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Medivir Capital/Financing Update 2021
3177_rns_2021-01-18_c47ccd21-ae4b-4aa9-b675-ecd11ebb9598.pdf
Capital/Financing Update
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THIS PRESS RELEASE MAY NOT BE MADE PUBLIC, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, JAPAN, CANADA, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH SUCH ASCTIONS, WHOLLY OR IN PART, WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO BUY SECURITIES IN MEDIVIR AB (PUBL). SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW IN THIS DOCUMENT.
Medivir publishes prospectus relating to the rights issue – including new financial information
Medivir AB ("Medivir" or "the Company") announces that the prospectus relating to Medivir's rights issue (the "Rights Issue") has been approved and registered by the Swedish Financial Supervisory Authority and is available on the Company's website, www.medivir.com/investors/rights-issue-2021 and www.abgsc.com. The prospectus contains information regarding the Company's capitalization and net indebtedness as of 30 November 2020 which has not previously been published but which is included in the prospectus due to applicable prospectus rules.
The prospectus and all other information related to the Rights Issue will be available on the Company's website, www.medivir.com/investors/rights-issue-2021 and www.abgsc.com.
New financial information
The prospectus includes not previously published information about Medivir's capitalization and net indebtedness as of 30 November 2020. This new financial information is set forth in the tables below.
| MSEK | As of 30 November 2020 |
|---|---|
| Current liabilities | |
| Guaranteed | - |
| Secured | - |
| Not guaranteed/secured | 36.9 |
| Total current liabilities | 36.9 |
| Non-current liabilities | |
| Guaranteed | - |
| Secured | - |
| Not guaranteed/secured | 33.1 |
| Total non-current liabilities (excluding the current | 33.1 |
| portion of current liabilities) | |
| Shareholders' equity | |
| Share capital | 188.5 |
| Other contributions | 420.4 |
| Retained earnings including the profit/loss of the | -456.0 |
| period1) | |
| Total shareholder's equity2) | 153.0 |
1) As of 30 September 2020.
2) Based on retained earnings including the result of the period as of 30 September 2020.
Net indebtedness
The Company's net debt as of 30 November 2020 is set forth in the table below. The table only includes interest-bearing debt. As of 30 November 2020, the Company has commitments and contingent liabilities attributable to research and development commitments connected to milestones of in total approximately MSEK 1,967. However, as of the date of the prospectus, this figure instead amounts to approximately MSEK 851, in consequence of the renegotiation of the agreement with TetraLogic, as announced through press release on 11 December 2020.
| MSEK | As of 30 November 2020 |
|---|---|
| (A) Cash | - |
| (B) Cash equivalents1) | 14.9 |
| (C) Readily realizable securities | 60.9 |
| (D) Total liquidity (A)+(B)+(C) | 75.8 |
| (E) Current financial receivables | 11.7 |
| (F) Current bank loans | - |
| (G) Current portion of non-current liabilities | 5.3 |
| (H) Other current liabilities | 31.6 |
| (I) Total current financial liabilities (F)+(G)+(H) | 36.9 |
| (J) Net current financial indebtedness (I)-(E)-(D) | -50.6 |
| (K) Non-current bank loans | - |
| (L) Bonds issued | - |
| (M) Other non-current loans | 33.1 |
| (N) Non-current financial indebtedness | 33.1 |
| (K)+(L)+(M) (O) Net financial indebtedness (J)+(N) |
-17.5 |
1) Refers to the balance of the Company's bank accounts.
Advisors
ABG Sundal Collier is the Sole Global Coordinator and Bookrunner and Vinge is the legal advisor in connection with the transaction.
For additional information, please contact:
Yilmaz Mahshid, CEO Telephone: +46 8 5468 3100 E-mail: [email protected]
Magnus Christensen, CFO Telephone: +46 8 5468 3100 E-mail: [email protected]
The information was submitted for publication, through the agency of the contact persons set out above, at 9.40 CET on 18 January 2021.
About Medivir
Medivir develops innovative drugs with a focus on cancer where the unmet medical needs are high. The drug candidates are directed toward indication areas where available therapies are limited or missing and there are great opportunities to offer significant improvements to patients. Medivir is developing MIV-818, a prodrug designed to selectively treat liver cancer cells and to minimize side effects. It has the potential to become the first liver-targeted, orally administered drug for patients with HCC.
Collaborations and partnerships are important parts of Medivir's business model, and the drug development is conducted either by Medivir or in partnership. Medivir's share (ticker: MVIR) is listed on Nasdaq Stockholm's Small Cap list. www.medivir.com.
Important information
Publication, release, or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions where the press release has been made public or distributed should be informed of and follow such legal restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer or solicitation to buy or subscribe for any securities in Medivir in any jurisdiction, either from Medivir or from anyone else.
This press release is not a prospectus according to the definition in Regulation (EU) 2017/2019 ("the Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction. A prospectus has been prepared by the Company and approved by the Swedish Financial Supervisory Authority.
This press release does not constitute an offer or solicitation to buy or subscribe for securities in the United States. The securities mentioned herein may not be sold in the United States without registration, or without an exemption from registration, under the U.S. Securities Act from 1933 ("Securities Act"), and may not be offered or sold within the United States without being registered, covered by an exemption from, or part of a transaction that is not subject to the registration requirements according to the Securities Act. There is no intention to register any securities mentioned herein in the United States or to issue a public offering of such securities in the United States. The information in this press release may not be released, published, copied, reproduced or distributed, directly or indirectly, wholly or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Singapore, South Africa, the United States or any other jurisdiction where the release, publication or distribution of this information would violate current rules or where such an action is subject to legal restrictions or would require additional registration or other measures beyond those that follow from Swedish law. Actions in contravention of this instruction may constitute a violation of applicable securities legislation.