Liestal, Switzerland, February 27, 2014 - Santhera Pharmaceuticals (SIX: SANN) announced today that it raised CHF 1 million in a private placement with IGLU Group AG, Zug, Switzerland. Santhera sold 288,317 registered company shares at a price of CHF 3.47 per share, representing a 8% discount to the lowest volume-weighted average share price of the last five trading days. The newly issued shares have a lock-up period of 100 days. The transaction further strengthens Santhera`s financial flexibility.
The private placement agreement was signed on February 26, 2014 after the close of trading on the SIX Swiss Exchange. The new shares with a par value of CHF 1.00 each will be issued from the Company`s authorized share capital and will represent 6.3% of the outstanding share capital of CHF 4,578,521 after the transaction. The subscription rights of existing shareholders have been excluded in accordance with Santhera`s articles of incorporation. The new shares will be listed on the SIX Swiss Exchange on February 28, 2014. IGLU Group has agreed to a lock-up with regard to the new shares for a period of 100 days following the share issuance.
"We are delighted to welcome IGLU Group as a major new shareholder of Santhera", said Thomas Meier, Chief Executive Officer of Santhera. "The additional capital provided by IGLU Group further supports Santhera`s cash position and allows us to execute our strategy to preserve the Company`s assets. We currently focus on the Application for Marketing Authorization with the European Medicines Agency for Raxone® as first treatment of Leber`s Hereditary Optic Neuropathy."
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Santhera Pharmaceuticals (SIX: SANN) is a Swiss specialty pharmaceutical company focused on the development and commercialization of innovative pharmaceutical products for the treatment of orphan mitochondrial and neuromuscular diseases, such as Leber`s Hereditary Optic Neuropathy, Duchenne Muscular Dystrophy and primary progressive Multiple Sclerosis, all of them areas of high unmet medical need with no current therapies. For further information, please visit www.santhera.com.
Raxone® is a trademark of Santhera Pharmaceuticals.
For further information, contact
Thomas Meier, Chief Executive Officer
Phone: +41 61 906 89 64
Disclaimer / Forward-looking statements
This communication does not constitute an offer or invitation to subscribe for or purchase any securities of Santhera Pharmaceuticals Holding AG. This publication may contain certain forward-looking statements concerning the Company and its business. Such statements involve certain risks, uncertainties and other factors which could cause the actual results, financial condition, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Readers should therefore not place undue reliance on these statements, particularly not in connection with any contract or investment decision. The Company disclaims any obligation to update these forward-looking statements.
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Source: Santhera Pharmaceuticals Holding AG via GlobeNewswire
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