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NeuroVive publishes prospectus and new financial information included in the prospectus in connection with forthcoming rights issue

NeuroVive Pharmaceutical AB (Nasdaq Stockholm: NVP) (”NeuroVive” or the ”Company”) has in connection with the forthcoming issue of shares with preferential rights for existing shareholders, announced on February 19, 2020 (the ”Rights Issue”), and the admission to trading of the shares in the Company on Nasdaq Stockholm, prepared a prospectus (the ”Prospectus”) that today, on April 3, 2020, has been approved and registered by the Swedish Financial Supervisory Authority (”SFSA”).

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE.

Publishing of Prospectus
The Prospectus has been prepared in connection with the forthcoming Rights Issue and has today, on April 3, 2020, been approved and registered by the SFSA. The Prospectus, containting full terms and conditions, and application forms are available on the Company’s website (www.neurovive.com, www.neurovive.com/rightsissue2020ld/) and on Erik Penser Bank’s website (www.penser.se). The Prospectus will also be available on the SFSA’s website (www.fi.se). In connection with the start of the subscription period, a summarizing folder will be sent out by mail to NeuroVive’s directly and nominee registered shareholders.

New financial information contained in the Prospectus
Stated in the Prospectus is NeuroVive’s capital structure and net debt as of January 31, 2020. This is in the light of regulatory requirements which implies that financial information regarding the capital structure must not be older than 90 days when the Prospectus is published. This information has not previously been published and the tables below provide the information. Note that only interest-bearing liabilities are reported in the tables. The information has not been reviewed by the Company's auditor.

Capital structure

KSEK 2020-01-31
Short-term interest-bearing liabilities
Guaranteed
Secured(1) 332
Unsecured debt
Total short-term interest-bearing liabilities 332
Long-term interest-bearing liabilities
Guaranteed
Secured(1) 346
Unsecured debt
Total long-term interest-bearing liabilities 346
Equity(2)
Share capital 9,298
Other capital contribution 592,980
Reserves 610
Retained earnings -475,107
Minority interests 5
Total equity 127,795
Total equity and interest-bearing liabilities 128,473

(1) Refers to lease debt right of use.
(2) Figures as of December 31, 2019.

Net debt

KSEK 2020-01-31
A. Cash and cash equivalents
B. Liquid funds(1) 41,740
C. Liquid securities
D. Total liquidity (A+B+C) 41,740
E. Short-term interest-bearing receivables 1,883
F. Current liabilities to credit institutions
G. Short-term portion of long-term liabilities 332
H. Other current interest-bearing liabilites
I. Short-term interest-bearing debt (F+G+H) 332
J. Net short-term interest-bearing debt (I-E-D) -43,291
K. Long-term liabilities to credit institutions
L. Issued bonds
M. Other long-term interest-bearing liabilities 346
N. Long-term interest-bearing debt (K+L+M) 346
O. Net debt (J+N) -42,945

(1) Consists of available liquid funds in bank account.

The Rights Issue in short

  • For each exisiting share held in the Company on the record date on April 1, 2020, one (1) subscription right was obtained. Two (2) subscription rights entitle to subscription of one (1) new share.
  • The subscription price amounts to SEK 0.80 per share.
  • Upon full subscription the Company will raise approximately SEK 74m before issue costs.
  • Subscription of shares with or without the use of subscription rights takes place during the period April 6 – 24, 2020.
  • Trading in subscription right takes place on Nasdaq Stockholm during the period April 6 – 22, 2020.
  • The Rights issue is covered by subscription and guarantee commitments totaling approximately SEK 67m, corresponding to approximately 90 percent of the Rights Issue.

Advisors
Erik Penser Bank AB acts as financial advisor to NeuroVive in connection with the Rights issue and Cirio Advokatbyrå AB acts as legal advisor.


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