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15/02/2017

Initiator Pharma A/S: The rights offering prior to the listing on AktieTorget has been oversubscribed

The subscription period of Initiator Pharma A/S’ (“Initiator Pharma”) rights offering in the maximum amount of SEK 20.5 million concluded on February 9, 2017. The rights offering was subscribed to approximately SEK 44.1 million, corresponding to a subscription rate of approximately 215 percent. Via the rights offering, Initiator Pharma will receive approximately SEK 20.5 million (before issuance costs of approx. SEK 1.4 million). The contract notes are expected to be sent out today, February 15, 2017. The first day for trading on AktieTorget is expected to occur March 16, 2017.

Initiator Pharma’s CEO Claus Elsborg Olesen comments

“I want to express a big thank you to both new and existing shareholders who have chosen to subscribe for shares in Initiator Pharma’s preferential rights issue. It is gratifying to see the great interest in our company and with the proceeds which this rights issue will provide the company, we can now more fully focus on our development work and our upcoming studies of IPED2015. This is a significantly important effort which we hope will lead to a better life for millions of men and their partners.”

Subscriptions and allotment

Subscriptions for the rights offering were received in the amount of approximately SEK 44,1 million including subscription commitments, which means that 3,721,689 new shares will be issued. Initiator Pharma thus will receive approximately SEK 20.5 million (before issuance costs, which are estimated at about SEK 1.4 million). 3,073,563 shares (corresponding to approx. 82,6 percent) will be allocated to subscribers with preferential rights. Allotments were made in accordance with the allocation principles set forth in the Company’s Swedish Memorandum and Danish Prospectus. The subscribers without preferential rights to whom the shares are allotted will receive contract notes, which are being sent out today, February 15, 2017. Those who have submitted a subscription for shares but who were not allocated shares will not receive contract notes.

Number of shares and amount of share capital

Once Initiator Pharma’s rights issue has been registered with the Erhvervsstyrelsen/Danish Business Authority, the total number of shares outstanding will amount to 8,683,943 and the share capital to DKK 911,814.015.

Listing on AktieTorget

Initiator Pharma A/S has been approved for listing on AktieTorget. March 16, 2017 is the projected date for the first day of trading.

Financial Advisor

Sedermera Fondkommission is the financial advisor to Initiator Pharma in connection with the rights offering and the listing on AktieTorget.

 

For more information about the rights offering and the listing on AktieTorget, please contact:

Sedermera Fondkommission

Telephone: +46 (0)40-615 14 10

E-mail: info@sedermera.se

 

For additional information about Initiator Pharma, please contact:

Claus Elsborg Olesen, CEO
Telephone: +45 6126 0035
E-mail: ceo@initiatorpharma.com

This information is information that Initiator Pharma A/ is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above on February 15th 2017.

 

A few words about Initiator Pharma

Initiator Pharma is a pharmaceutical company based in Aarhus, Denmark, spun off from Saniona AB (listed on Nasdaq Stockholm First North Premier). The Company’s main focus is the pharmaceutical candidate IPED2015, which constitutes a new treatment for the indication of erectile dysfunction (ED) - the inability of a man to achieve and maintain an erection and thus be able to complete sexual intercourse. Initiator Pharma’s new treatment method with IPED2015 is intended to treat the large group of patients suffering from of erectile dysfunction who are resistant to current treatment methods.

(see more)

 

27-12-2016

 

Notice of and invitation to attend: Extraordinary General Meeting of Initiator Pharma A/S

To the shareholders of INITIATOR PHARMA A/S

In accordance with § 7 of the Company’s Articles of Association, you are hereby invited to attend the Extraordinary General Meeting of INITIATOR PHARMA A/S to be held January 20, 2017 at 2 p.m. at the Company’s offices, Lyngsiesvej 18, DK-8230 Åbyhøj, Denmark.

  1. Agenda

After the election of a chairman of the Shareholders Meeting, the following will be the agenda for the general meeting of shareholders:

  1. Election of a new member to the Board of Directors.

In accordance with § 7 of the Articles of Association, you are hereby informed that the total number of votes/voting rights on the date of this notice is 4,962,254.

Item 1

It is proposed that Claus Olesen, who presently is the CEO of Initiator Pharma A/S, also be elected as a member of the Board of Directors of the Company.

                                                           ---oOo---

The registration date is January 13, 2017. Only those individuals who are shareholders on that date are entitled to attend and vote at the Shareholders Meeting.

In order to obtain physical access to the Shareholders Meeting and thus be able to participate in and vote at the Shareholders Meeting, a shareholder must have ordered an admission card no later than 3 days before the Meeting, (see § 10 of the Articles of Association). The request for this should be addressed to Claus Olesen, ceo@initiatorpharma.com. A shareholder also has the option to apply for an admission card for a proxy holder, who will be physically present in the place of the shareholder. The request is to be made in accordance the following guidelines. In such case, the shareholder must fill in and sign the proxy and voting forms, which are available on the Company’s website www.initiatorpharma.com/news/. The proxy holder must bring along the admission card and the form in original to the Shareholders Meeting.

The proxy/postal voting forms that can be used if a shareholder would like to vote in writing by proxy are also available on the Company’s website www.initiatorpharma.com/news/. Practical information concerning the use and the submission of the proxy form is available on the form.

Shareholders have the right to ask questions about the agenda and the matters that will be addressed at the Shareholders Meeting. The questions can be submitted in writing prior to the Shareholders Meeting or alternatively at the Shareholders Meeting itself. The answers will if possible – subject to the restrictions and limitations imposed by relevant legislation – be provided at the Shareholders Meeting or alternatively be made available to shareholders no later than two weeks after the Shareholders Meeting.

All materials mentioned in this notice may be obtained from Claus Olesen, ceo@initiatorpharma.com . The material is sent only via e-mail. Therefore, an e-mail address must be specified.

Appendix 1: Proxy and postal voting forms.

INITIATOR PHARMA A/S

On behalf of the Board of Directors

Magnus Persson, Chairman/CEO

 

For further information about Initiator Pharma, please contact:

Claus Elsborg Olesen, CEO
Telephone: +45 6126 0035
E-mail: ceo@initiatorpharma.com

 

About Initiator Pharma

Initiator Pharma is a pharmaceutical company based in Aarhus, Denmark, spun off from Saniona AB (listed on Nasdaq Stockholm First North Premier). The company’s primary focus is the drug candidate IPED2015 which constitutes a new treatment method for the indication of erectile dysfunction (ED), that is, the inability of a man to achieve and maintain an erection and thus be able to complete sexual intercourse. Initiator Pharma’s new method of treatment with IPED2015 intends to address the large group of patients suffering from erectile dysfunction and who are resistant to current therapies.

 

Bilag (Appendix 1)

Ekstraordinær generalforsamling (LINK)

Kallelse till extra bolagstämma i Initiator Pharma A/S (LINK)

Extraordinary General Meeting of Initiator Pharma A/S (LINK)

Fuldmagt (fremmøde) (LINK)

Fuldmagt (skriftlig) (LINK)

Proxy (LINK)

Proxy (LINK)

Vedtægter for Selskabet (Articles of Association) (LINK)

 

 

 

2016-10-21

Announcement from the Extraordinary General Meeting of Shareholders of Initiator Pharma A/S

Today, November 21, 2016, an Extraordinary General Meeting of Shareholders of Initiator Pharma A/S (“Initiator Pharma”) was held. The following is a summary of the decisions that were made. The resolutions were adopted with the requisite majority.

Decision concerning a reverse stock split

So as to have a more efficient number of shares, plus in view of the planned imminent listing on AktieTorget, the shareholders meeting decided on a reverse split of the shares in the ratio of 1:7, i.e. that seven (7) shares would be consolidated into one (1) share. It was decided that the Board of Directors receives the authority to decide on the date for the reverse stock split and to take other measures necessary for the share consolidation to be able to be implemented, including the necessary amendments to the bylaws. It was decided that this authorization applies until the fifth day before the next Annual General Meeting. The decision means that the company’s share capital DKK 521,036.67 is distributed between 4,962,254 shares with a nominal value of DKK 0.105 each.

It was further decided that as a precondition for the reverse stock split, Claus Olesen, Dan Peters, Ulf Simonsen and Mikael Thomsen (collectively the “Guarantor”) would arrange for (without compensation and via Euroclear Sweden AB) ensuring that shareholdings of those shareholders whose number of shares are not divisible by 7 will be divisible by seven (7). This is to be arranged by the Guarantor without compensation to them. It is noted that the Guarantor have acquired approx. 30,000 shares in total and made them available to Euroclear Sweden AB for this purpose. Thus, the decision concerning the share consolidation is dependent upon – provided that the Guarantor obtain the additional shares necessary – that the required allocation can be done with the number of shares the Guarantor have available to them.

It was further decided that the Board of Directors, or the party the Board of Directors appoints, would be authorized to implement the adjustments and amendments to the shareholder meeting’s decision that are appropriate and necessary in connection with the implementation and registration of the decision.

Decision to authorize the Board of Directors to increase the share capital

In view of the planned imminent listing on AktieTorget, the shareholders meeting decided that the current authorization in §4a of the bylaws of the company would be amended to read:

“The Board of Directors is authorized to increase the company’s capital via a contribution of cash, via a contribution of items of value other than cash, and/or via the issuance of options to subscribe for shares (warrants) or convertible debentures.

The following applies for the authorization:

that the Board of Directors may increase the nominal share capital by a maximum amount of DKK 477,272.67,;

that the subscription of the shares shall be made at market price (albeit with issuance discounts at market on terms at each individual occasion);

that this authorization is given from September 19, 2016 until the next Annual General Meeting, which is expected to be held in May 2017;

that this authorization otherwise to be maintained via that each year a renewed authorization will be provided at the Annual General Meeting for 1 year at a time;

that the Board of Directors is authorized to eventually allow the existing shareholders to renounce their subscription rights in connection with capital increases that the Board of Directors determines;

that no shareholders are obligated to allow their shares to be redeemed in whole or in part by the Company or by others;

that the shares are freely tradable;

that the equity shall be negotiable instruments;

that the shares shall be registered in the name of each shareholder (in Danish: “kapitalandelene skal lyde på navn”); and

that the Board of Directors, or the third party the Board of Directors appoints, shall be entitled to make the changes and corrections required by the Danish Business Authority, VP Securities, or Euroclear Sweden AB, as part of the utilization of the authorization.”

Decision concerning the amendment of the bylaws of the company relating to method to provide the notice of invitation to attend shareholder meetings

The shareholders meeting decided that the bylaws of the company would be amended to provide that the notice of invitation to attend to shareholder meetings should always be made via publishing the notice in the Swedish Post och Inrikes Tidningar and on the company’s website. The notice of invitation to attend is to be published in the Swedish newspaper Svenska Dagbladet. If the Swedish newspaper Svenska Dagbladet ceases publication, the publication of the announcement should instead take place via Dagens Industri.

It was decided at the same time that the bylaws of the company would be amended so that the notice of invitation to attend and the transmission of materials via e-mail to the individual shareholders would no longer be required.

For additional information about Initiator Pharma, please contact:

Claus Elsborg Olesen, CEO
Telephone: +45 6126 0035
E-mail: ceo@initiatorpharma.com

 

A few words about Initiator Pharma

Initiator Pharma is a pharmaceutical company based in Aarhus, Denmark, spun off from Saniona AB (listed on Nasdaq Stockholm First North Premier). The Company’s main focus is the pharmaceutical candidate IPED2015 which constitutes a new treatment for the indication of erectile dysfunction (ED), that is, the inability of a man to achieve and maintain an erection and thus be able to complete sexual intercourse. Initiator Pharma’s new treatment method with IPED2015 is intended to treat the large group of patients suffering from of erectile dysfunction who are resistant to current treatment methods

 

2016-10-30     Ekstraordinær generalforsamling

 

 

 

 

 

 

 

2016-10-04 Investorarbrevet link

2016-09-26 BIO stock link

2016-05-10 Euroinvestor link

2016-05-10 BIO stock link