October 15, 2019 / 12:25 PM / 2 months ago

BRIEF-Eurocine Vaccines Decides On Directed Issue And Bridge Loan

Oct 15 (Reuters) - Eurocine Vaccines AB:

* SAID ON MONDAY DECIDED TO ISSUE SHARES OF ABOUT SEK 2.4 MLN TO TWO INVESTORS

* DECIDED TO TAKE BRIDGE LOAN OF ABOUT SEK 2.0 MLN

* IN TOTAL DIRECTED ISSUE AND BRIDGE LOAN CORRESPOND TO CAPITAL INJECTION OF SEK 4.4 MLN BEFORE ISSUE COSTS

* PURPOSE OF THIS CAPITALIZATION, AND REASON FOR DEVIATION FROM SHAREHOLDERS’ PREFERENTIAL RIGHTS, IS TO PROVIDE CO WITH WORKING CAPITAL IN COST-OPTIMAL AND FLEXIBLE MANNER

* IN CONNECTION WITH CAPITALIZATION, CO’S BOD AND MAJORITY SHAREHOLDER VISMEDERI SRL ENTER INTO LOCK-UP AGREEMENT REGARDING 100% OF THEIR RESPECTIVE HOLDINGS

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Further company coverage: (Gdansk Newsroom)

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