#Sweden #Gothenburg #Rights Issue #Oblique Therapeutics #SEK 14.1 Million

Oblique Therapeutics Announces Successful Rights Issue

Oblique Therapeutics AB has announced the successful outcome of its recent rights issue, which closed on June 30. The company was able to secure approximately SEK 14.1 million before transaction costs, a notable achievement that reflects strong investor confidence. The rights issue saw a complete subscription, adding 7,025,060 shares to the company’s existing pool, increasing the total from 56,297,259 to 63,322,319 shares.

This increase in share capital is significant as it indicates an approximate 11% dilution for existing shareholders who chose not to participate. However, the company emphasizes the successful completion of the rights issue without applying any guarantee commitments, which is noteworthy in the current challenging financing environment for biotechnology firms. The positive response from investors underscores their confidence in Oblique's strategy and future outlook.

Financial Implications of the Capital Raise

The funds generated from this rights issue are anticipated to sustain Oblique's operations well into 2027. According to the company’s leadership, the capital will be instrumental in continuing to develop its core business and pursuing planned activities in alignment with its overall strategy. This financial injection appears to position Oblique Therapeutics favorably, allowing it to explore new collaborations and further develop its unique project portfolio.

CEO Christer Nordstedt stated, "We are very pleased with the strong support shown by both existing and new shareholders through their participation in the rights issue. In a continued challenging financing environment for the biotechnology sector, we view this strong interest as a clear expression of confidence in Oblique Therapeutics, our strategy, and our future prospects."

The rights issue subscription was priced at SEK 2.00 per share, a notable increase from the last year's price of SEK 1.50. This upward trend in share price during the rights issue may reflect increased investor optimism about the company’s future. Nordstedt thanked shareholders for their trust and support, highlighting that the raise enables the continuation of priority activities that are crucial for the company's growth.

Chairman's Perspective

Additionally, Hans Peter Ostler, the Chairman of the Board, highlighted that this capital injection equips Oblique with a robust platform to advance its external collaborations and enhance its drug development capabilities. Ostler noted that the funds would also play a vital role in validating the proprietary AbiProt technology platform, which is focused on generating antibodies aimed at challenging drug targets.

As a result, this funding will ultimately contribute to the long-term vision and viability of Oblique Therapeutics, enhancing its foundational support as they work towards their corporate goals.

Next Steps and Future Announcements

The registration of the increased share capital with the Swedish Companies Registration Office (Bolagsverket) is pending. Once completed, the interim shares issued during the rights issue will convert into ordinary shares. Further information regarding the allocation and registration process will be communicated according to the previously announced timetable.

With the successful execution of this rights issue, Oblique Therapeutics AB is poised for continued growth and innovation in the biotechnology sector, reinforcing its commitment to transformative healthcare solutions for various challenges in drug development.