NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG OR JAPAN, OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. THIS ANNOUNCEMENT DOES NOT CONSTITUTE AN OFFER OF ANY OF THE SECURITIES DESCRIBED HEREIN.
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Reference is made to the stock exchange announcement published by Oncoinvent ASA (“Oncoinvent” or the “Company”) on 11 December 2024 regarding the registration of the share capital increase pertaining to a private placement of in total 65 million new shares (the “Offer Shares”), each with a nominal value of 0.10, at a subscription price of NOK 2 per Offer Share, resulting in gross proceeds to the Company of 130 million (the “Private Placement”). All Offer Shares have now been issued in the Norwegian Central Securities Depository. Delivery of Offer Shares to investors in the Private Placement will take place on a delivery versus payment basis on or about 13 December 2024.
The first day of trading of the Company’s shares on Euronext Growth Oslo is today, 13 December 2024, under the ticker “ONCIN”. The Company has prepared an information document solely for the purpose of the admission to trading, which is attached to this announcement and can also be found on the Company’s website: https://www.oncoinvent.com/.
“Oncoinvent is thrilled to join Euronext Growth, a milestone that underscores our commitment to advancing innovative cancer therapies. This listing will enhance our visibility, attract new investors, and provide the financial flexibility and stability needed to accelerate our clinical development program to data in 2025 and 2026. We look forward to leveraging this platform to drive growth, not only of Oncoinvent but eventually also of the Oslo radiopharmaceutical ecosystem” says Øystein Soug, CEO.
Advisors:
Carnegie AS and DNB Markets, a part of DNB Bank ASA acted as joint bookrunners and managers in connection with the Private Placement, and as listing advisors to the Company in connection with its admission to trading on Euronext Growth Oslo (the “Managers”).
Advokatfirmaet Thommessen AS is acting as legal advisor to the Company. Advokatfirmaet Wiersholm AS is acting as legal advisor to the Managers.
About Oncoinvent
Oncoinvent ASA is a clinical stage, radiopharmaceutical company developing innovative treatments for solid cancers. The technology platform is focused on the use of alpha-emitting radionuclides to deliver powerful radiation directly to cancer cells. The Company’s lead product candidate, Radspherin®, is being advanced through clinical development by a team with experience from all stages of radiopharmaceutical development. Internal manufacturing and supply chain capabilities have been established, which now have the capacity to supply Radspherin® for multi-center phase 2 clinical studies.
For further information, please contact:
Oystein Soug, Chief Executive Officer
Email: soug@oncoinvent.com
Tore Kvam, Chief Financial Officer
Email: kvam@oncoinvent.com
Important information
The release is not for publication or distribution, in whole or in part directly or indirectly, in or into Australia, Canada, Japan or the United States (including its territories and possessions, any state of the United States and the District of Columbia). This release is an announcement issued pursuant to legal information obligations. It is issued for information purposes only, and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “US Securities Act”). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the US Securities Act.
The Company 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 made and may not be distributed or sent into Australia, Canada, Japan or the United States.
This announcement is an advertisement and is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (as amended) as implemented in any Member State.
The issue, subscription or purchase of shares in the Company is subject to specific legal or regulatory restrictions in certain jurisdictions. Neither the Company nor the Managers assume any responsibility in the event there is a violation by any person of such restrictions. The distribution of this release may in certain jurisdictions be restricted by law. Persons into whose possession this release comes should inform themselves about and observe any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction. The Managers are acting for the Company and no one else in connection with the Private Placement and will not be responsible to anyone other than the Company providing the protections afforded to their respective clients or for providing advice in relation to the Private Placement and/or any other matter referred to in this release.
Forward-looking statements: This release and any materials distributed in connection with this release may contain certain forward-looking statements. By their nature, forward-looking statements involve risk and uncertainty because they reflect the Company’s current expectations and assumptions as to future events and circumstances that may not prove accurate. A number of material factors could cause actual results and developments to differ materially from those expressed or implied by these forward-looking statements.
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