Generics' rights offering was oversubscribed
December 18, 2009
Generic Sweden AB (publ.) recently completed a rights offering, through which the company raised 10.1 million kronor before offering expenses. The offering was oversubscribed by 48.6 percent, meaning that the underwriting commitment entered into will not need to be exercised.
A total of 5,442,607 shares were subscribed for with preferential rights, corresponding to 99.6 percent of the number of shares in the offering, and 20,513 shares were subscribed for without preferential rights, corresponding to 0.4 percent of the number of shares in the offering. Notification of the allocation of shares to subscribers who subscribed for shares without subscription rights will be issued on December 18, 2009. No notification will be sent to those who were not allocated shares.
The rights offering will increase the number of shares by 5,463,120. Following the rights offering, the share capital will amount to 9,833,616 Swedish kronor, divided among 12,292,020 shares. As soon as the increase in share capital has been registered by the Swedish Companies Registration Office, paid subscribed shares (BTA) in the rights offering will be converted into new shares. Trading in the new shares is expected to commence on NASDAQ OMX First North on January 15, 2010.
Remium AB has served as financial advisor to Generic in connection with the rights offering.