Cirio advises Karolinska Development with its directed share issue to the company’s convertible holders

Cirio advises Karolinska Development AB (publ), listed on Nasdaq Stockholm, in connection with its directed share issue to the company’s convertible holders, offering the convertible holders to set-off their convertibles as payment for new shares of series B. The directed issue to the company’s convertible holders is carried out to achieving the required restructuring of the company’s capital structure. The Company’s debt, including interest, related to the convertible holders will be lowered with an amount approximated to SEK 466 million if the offer is fully subscribed. A prospectus in respect of the directed share issue was made public on 5 July 2019.

Karolinska Development is an investment company which offers an opportunity to share in the growth in value of a number of Nordic life sciences companies with substantial commercial opportunities.

Cirio advises Karolinska Development through a team lead by Annika Andersson (Capital Markets and Public M&A), together with Tim Johansson, Oscar Lunde, Mimi Hörnmo and Jesper M Johansson (Capital Markets and Public M&A), Erik Sundgren, Jessika Lagebro and Nina Lannsjö (M&A), Lars-Henrik Andersson and Axel Thörn (Banking & Finance), and David Leffler (Intellectual Property).

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