STOCKHOLM, Nov. 1, 2023 /PRNewswire/ -- The Board of Directors of Swedish Orphan Biovitrum AB (publ) (Sobi®) (STO: SOBI) ("Sobi") has, as previously communicated, on 31 October 2023 resolved to issue redeemable and convertible series C shares and to, conditional upon subscription and payment from Svenska Handelsbanken AB, repurchase all issued series C shares, to secure Sobi's obligations under the outstanding incentive programmes. Svenska Handelsbanken AB has today subscribed for all 602,482 issued series C shares, and the new share issue is completed.
The Extraordinary General Meeting of Sobi on 15 August 2023 resolved to authorise the Board of Directors to resolve on a directed issue of series C shares, with the aim of ensuring that Sobi can fulfil its obligations under the outstanding long-term incentive programmes (after the recalculation of the number of common shares that may be delivered under each programme as a result of the completed rights issue). Furthermore, the Extraordinary General Meeting also resolved to authorise the Board of Directors to resolve on the repurchase of all issued series C shares through an acquisition offer directed to all owners of series C shares in Sobi.
On 31 October 2023, the Board of Directors of Sobi resolved to issue 602,482 series C shares and to, conditional upon subscription and payment from Svenska Handelsbanken AB, repurchase all issued series C shares. Svenska Handelsbanken has today subscribed for 602,482 issued series C shares, and the new share issue is completed. The total issue proceeds amount to SEK 330,585.17 and have been paid on this day.
Upon repurchase of all 602,482 series C shares, the intention is to convert the repurchased series C shares into common shares pursuant to the conversion provision in Sobi's articles of association to secure future delivery of common shares to the participants in the outstanding incentive programmes. The intent is to repurchase and convert the shares as soon as possible after the share issue.
Sobi currently holds 14,294,637 own common shares and no own series C shares. Following the repurchase and conversion of the series C shares to common shares, Sobi will hold 14,897,119 own common shares.
Sobi® is a specialised international biopharmaceutical company transforming the lives of people with rare and debilitating diseases. Providing reliable access to innovative medicines in the areas of haematology, immunology and specialty care, Sobi has approximately 1,800 employees across Europe, North America, the Middle East, Asia and Australia. In 2022, revenue amounted to SEK 18.8 billion. Sobi's share (STO:SOBI) is listed on Nasdaq Stockholm. More about Sobi at sobi.com, LinkedIn and YouTube.
The following files are available for download:
https://mb.cision.com/Main/14266/3867247/2400697.pdf Sobi has completed the issuances of series C shares