Immunicum's rights issue oversubscribed

Gothenburg, Sweden, 2014-06-03 08:45 CEST (GLOBE NEWSWIRE) — Not for distribution, directly or indirectly, in or into the United States, Australia, Canada, Singapore, Switzerland, South Africa, Japan, Hong Kong or New Zealand or in any jurisdiction in which the distribution or release of this press release would be unlawful.

Immunicum AB (publ) (“Immunicum”) has completed the rights issue resolved by the board of directors on 2 April 2014 pursuant to an authorization from the general meeting held on 3 December 2013. The subscription period ended on 28 May 2014 and the subscription price was SEK 16 per new share. The rights issue was fully subscribed, raising the company approximately SEK 44 million before transaction costs.

51 percent (1,401,116 shares) of the rights issue was subscribed for by virtue of subscription rights and the remainder, 49 percent (1,353,884 shares), was allotted to subscribers without subscription rights. In total, applications to subscribe for 1,437,596 shares without subscription rights were received, which means that the rights issue was subscribed for to a total of 103 percent. All shareholders who have applied for subscription by virtue of subsidiary preferential right have received full allotment. Thus, the underwriting guarantees do not need to be utilized. Existing shareholders whose subscription rights represented approximately 42 percent of the rights issue had undertaken not to use or sell the subscription rights they were allotted in the rights issue.

Through the rights issue, Immunicum’s share capital will increase by SEK 137,750 to SEK 1,001,500. The number of shares will increase by 2,755,000 shares to 20,030,000 shares.

Those who have subscribed for shares without subscription rights have been allotted shares according to the principles outlined in the prospectus which was published on 12 May 2014. Notices to those who have subscribed for shares without subscription rights are expected to be distributed on or about 3 June 2014.

Trading in paid subscribed shares (BTA) on NASDAQ OMX First North is proceeding until the Swedish Companies Registration Office has registered the share capital increase. New shares are expected to start trading on NASDAQ OMX First North on or about 18 June 2014, when the shares are expected to be registered on the subscribers’ securities accounts.

Pareto Securities AB is financial adviser to Immunicum.


For further information please contact:

Jamal El-Mosleh, CEO of Immunicum, +46 31 41 50 53,


About Immunicum AB (publ):

Immunicum AB (publ) develops cancer immunotherapies. Its two main groups of therapeutic cancer vaccines, SUBCUVAX® and INTUVAX®, and the method of expansion of tumor-specific T-cells (CD70) is based on the Nobel prize awarded discovery of the dendritic cell and its central role in the activation of the specific immune response. Since the raw material consists of allogeneic dendritic cells, Immunicum’s products can be produced in large scale. The vaccines are now undergoing clinical trials in renal cell carcinoma and hepatocellular carcinoma.

Redeye AB is chosen as Immunicum’s Certified Adviser.

Tel: 08-545 013 31.


Important notice

The information in this press release is not for release, publication or distribution, directly or indirectly, in or into the United States, Australia, New Zeeland, Hong Kong, Japan, Canada, Singapore, Switzerland or South Africa. The distribution of this press release in certain other jurisdictions may be restricted. The information in this press release shall not constitute an offer to sell or the solicitation of an offer to purchase any securities in Immunicum in any jurisdiction. This press release does not constitute, or form part of, an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended. Immunicum does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this announcement are not being distributed or sent and may not be distributed or sent to the United States, Australia, New Zeeland, Hong Kong, Japan, Canada, Singapore, Switzerland or South Africa.

This document has not been approved by any regulatory authority. This document is a press release and not a prospectus and investors should not subscribe for, or purchase any securities referred to in this document, except on the basis of information in the prospectus (including supplements thereto) which has been published by Immunicum and is available, inter alia, on its web site.

European Economic Area

Immunicum has not resolved to offer to the public shares or rights in any Member State of the European Economic Area other than Sweden and any other jurisdiction into which the offering of shares or rights may be passported. Within such Member States of the European Economic Area other than Sweden (and any other jurisdiction into which the offering of shares or rights may be passported) and which has implemented the Prospectus Directive (each, a “Relevant Member State”), no action has been undertaken as of this date to make an offer to the public of shares or rights requiring a publication of a prospectus in any Relevant Member State. As a result hereof, the shares or rights may only be offered in Relevant Member States: (a) to a qualified investor (as defined in the Prospectus Directive or under applicable law); or (b) in any other respect that does not require that Immunicum publishes a prospectus in accordance with Article 3(2) of the Prospectus Directive.

For the purposes hereof, the expression an “offer to the public of shares or rights” in any Relevant Member State means the communication, in any form, of sufficient information on the terms of the offer and the shares or rights to be offered so as to enable an investor to decide to purchase any securities, as the same may be varied in a Relevant Member State due to the implementation of the Prospectus Directive in that Member State and the expression “Prospectus Directive” means Directive 2003/71/EC including any relevant implementing measure in each Relevant Member State.

Pareto Securities AB is acting for Immunicum and no one else in connection with the Rights Issue and will not be responsible to anyone other than Immunicum for providing the protections afforded to its clients or for providing advice in relation to the Rights Issue and/or any other matter referred to in this announcement.

Pareto Securities AB accepts no responsibility whatsoever and makes no representation or warranty, express or implied, for the contents of this announcement, including its accuracy, completeness or verification or for any other statement made or purported to be made by Pareto Securities AB, or on its behalf, in connection with Immunicum and the new shares, the Rights Issue, and nothing in this announcement is, or shall be relied upon as, a promise or representation in this respect, whether as to the past or future. Pareto Securities AB accordingly disclaims to the fullest extent permitted by law all responsibility and liability whether relating to damages, contract or otherwise which it might otherwise have in respect of this announcement or any such statement.

Forward-looking statements

This press release contains forward-looking statements that reflect the company’s current views with respect to future events and potential financial performance. Although Immunicum believes that the expectations reflected in such statements are reasonable, no assurance can be given that such expectations will prove to have been correct. Accordingly, results can differ materially from those set out in the forward-looking statements as a result of various factors. You are advised to read this announcement, and the prospectus (and supplements thereto) and the information incorporated by reference therein, in their entirety for a further discussion of the factors that could affect the Immunicum’s future performance and the industries in which Immunicum operates. In light of these risks, uncertainties and assumptions, it is possible that the events described in the forward-looking statements in this announcement may not occur.

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