OSLO, Norway--(BUSINESS WIRE)--The Board of Nordic Nanovector AS (“Nordic Nanovector” or the “Company”) has resolved to initiate a private placement of up to NOK 150 million and has retained ABG Sundal Collier and DNB Markets (the “Managers”) to advise on and effect the transaction. The Board has further resolved that the indicative price range for the private placement shall be between NOK 22.5 to NOK 25 per share, implying a market capitalization of Nordic Nanovector prior to the private placement of between NOK 326 million and NOK 362 million. Completion of the private placement will inter alia be subject to resolution of an extraordinary general meeting.
The final price is to be determined by a book building process that will begin at June 6 and end on June 17 2014. The Company and the Managers may, however, at any time resolve to close or extend the book building period at their sole discretion. The minimum order has been set to the number of shares that equals an aggregate purchase price of the NOK equivalent of EUR 100,000.
The Company’s largest shareholder, HealthCap VI L.P. will participate in the private placement and subscribe for up to its pro-rata share.
The net proceeds from the private placement will be used to finance the further development of Betalutin™ for treatment of non-Hodgkin Lymphoma.
About Nordic Nanovector
AS Nordic Nanovector AS is a privately held company established in 2009. The company is based in Norway and has offices and laboratories in Oslo. The company is developing novel innovative anticancer radioimmunotherapeutics to treat non-Hodgkin Lymphoma (NHL) and other hematological malignancies.
Betalutin™, is a pharmaceutical product candidate consisting of a radionuclide conjugated to a tumor seeking carrier/antibody, which can be used for irradiation of malignant metastasized tumors with minimal damage to nearby healthy normal tissue. This technology aims to prolong and improve the quality of life of people who suffer from non-Hodgkin Lymphoma (NHL).
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