Alzinova broadens its shareholder base with a new institutional investor, while its principal shareholder subscribes for its full pro rata share in the ongoing rights issue
Alzinova AB (“Alzinova” or the “Company”) today announces that the Company’s principal shareholder, Maida Vale Capital AB (“MVC”), has sold Alzinova shares with an aggregate value of approximately SEK 6.5 million. The shares were acquired at the market price by a new institutional investor. In parallel, MVC will subscribe for shares corresponding to its full pro rata share in Alzinova’s ongoing rights issue, for an equivalent amount.
Through MVC’s subscription, Alzinova receives capital in the rights issue, while its shareholder base is broadened through the addition of the new institutional investor. For MVC, the transaction represents an adjustment of its holding ahead of the forthcoming subscription periods for the Company’s warrants, while MVC remains a significant long-term shareholder in Alzinova.
Following the transactions, MVC remains a significant shareholder in Alzinova and will hold approximately 9 percent of the outstanding shares following completion of the rights issue, as well as 13.1 percent of the outstanding warrants of series TO5 and TO6.
““Alzinova is at a very exciting stage. The results from the blood study, the ongoing Phase II study and the active partnering discussions reinforce our conviction in the Company’s long-term potential. At the same time, Alzinova has developed into a company with two potential future revenue streams, which further strengthens the commercial case. We are therefore participating in the rights issue in full and look forward to continuing to support Alzinova as a significant long-term shareholder,” states Maida Vale Capital AB..
For further information, please contact:
Tord Labuda, CEO
E-mail: info@alzinova.com
About Alzinova AB
Alzinova AB is a Swedish biopharmaceutical company in clinical development specializing in the treatment of Alzheimer's disease, where the starting point is to attack toxic amyloid-beta oligomers. The lead candidate ALZ-101 is a therapeutic vaccine against Alzheimer's disease. Alzinova's patented AβCC peptide technology makes it possible to develop disease-modifying treatments that target the toxic amyloid-beta oligomers that are central to the onset and development of the disease with great accuracy. From a global perspective, Alzheimer's disease is one of the most common and devastating neurological diseases, with around 40 million affected today. Based on the same technology, the company is also developing the antibody ALZ-201, which is currently in preclinical development, and the goal is to further expand the pipeline. The company's Certified Adviser on Nasdaq First North Growth Market is Mangold Fondkommission AB. For more information about Alzinova, please visit: www.alzinova.com