Fra Zealand:
Zealand Pharma A/S
Inside information
Zealand Pharma announces private placement and directed issue of new shares with expected gross proceeds of DKK 137,236,000
Company announcement – No. 09 / 2020
Zealand Pharma announces private placement and directed issue of new shares with expected gross proceeds of DKK 137,236,000
- A total of 741,816 new shares (the “New Ordinary Shares”) have been subscribed for with expected gross proceeds of approx. DKK 137,236,000.
- The private placement and directed share issue to a U.S. based investor follows recent positive developments in Zealand Pharma’s product pipeline.
- The additional funding will be used to continue supporting Zealand Pharma’s peptide platform, accelerate ongoing development of late stage assets, and prepare for the launch of the company’s first fully-owned asset.
Copenhagen, March 26, 2020 – Zealand Pharma A/S (“Zealand”) (NASDAQ: ZEAL) (CVR-no. 20 04 50 78), a Copenhagen-based biotechnology company focused on the discovery and development of innovative peptide-based medicines, announces a private placement and directed share issue to a US based investor of 741,816 New Ordinary Shares, each of a nominal value of DKK 1, at a subscription price of DKK 185 per New Ordinary Share (the “Placement”). Zealand expects to receive gross proceeds from the Placement of approximately DKK 137,236,000.
The board of directors of Zealand has on 26 March 2020 in accordance with article 7.1 of Zealand’s articles of association, exercised an authorization granted by Zealand’s general meeting to increase Zealand’s share capital and issue the New Ordinary Shares.
The New Ordinary Shares will be issued without pre-emption rights for Zealand’s current shareholders and the New Ordinary Shares will upon issuance rank pari passu with Zealand’s existing shares and carry the same dividend and other rights. Each New Ordinary Share carries one vote at Zealand’s general meetings. Zealand only has one class of shares.
Payment of the subscription price is expected to take place no later than 31 March 2020 after which the capital increase will be registered with the Danish Business Authority.
Zealand intends to use the gross proceeds from the subscription together with its existing cash resources for the following purposes:
- Contribute to supporting discovery, research and development of the company’s peptide platform,
- Support ongoing development of late stage assets, and
- Prepare for the launch of the company’s first fully-owned asset.
The New Ordinary Shares will be issued and registered with VP Securities and admitted to trading on Nasdaq Copenhagen under the ISIN code of Zealand’s existing shares (ISIN code DK0060257814) once the subscription price has been paid and the New Ordinary Shares have been registered with the Danish Business Authority. Admission to trading of the New Ordinary Shares is expected to take place on 1 April 2020.
Before the Placement, Zealand’s share capital amounted to DKK 36,146,136. After completion of the Placement and issue of the New Ordinary Shares, Zealand’s share capital will amount to nominally DKK 36,887,952, corresponding to 36,887,952 shares of DKK 1, nominal value, each.
Expected timetable for the capital increase:
| 31 March 2020 | Registration of the New Ordinary Shares with the Danish Business Authority as well as issue and registration of the new shares with VP Securities. |
| 1 April 2020 | Admittance to trading on Nasdaq Copenhagen of the New Ordinary Shares. |
