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Lund, Sweden, 13th of November 2017 - Xintela AB (publ) announces a directed share issue of approximately 10 million SEK and borrowing of 7 million SEK to strengthen its working capital for investment in Xintela’s development programs.
The Board of Xintela, under the authorization adopted at the AGM on 18 May 2017, today decided to issue a total of 3,205,129 new shares, corresponding to approximately SEK 10 million SEK before issue costs, in a directed issue subscribed by a small number of institutional and private investors. The subscription price amounts to SEK 3.12 per share, equivalent to a discount of approximately 10 percent to the volume-weighted average trading price during the ten trading days between 27 October and 9 November 2017. The issue proceeds will be available to Xintela on November 17, 2017. Xintela has also signed agreements with a small number of institutional and private investors to borrow 7 MSEK at 2 % interest monthly, from 1 December 2017 to 31 December 2018, with early repayment possible from 31 March 2018.
CEO Evy Lundgren-Åkerlund comments:
We continue to focus on moving our projects in regenerative medicine and cancer towards clinical studies and on establishing collaborations. With a stronger team than ever and a number of ongoing collaboration discussions, the future of Xintela looks very promising. By strengthening our financial position by 17 MSEK in a quick and efficient way, we can focus even more on taking Xintela's business towards achieving our milestones and creating value for Xintela's shareholders.
Purpose of the share issue and loans
The purpose of the loans and the directed share issue and the reason for deviating from shareholders' pre-emption rights is to promptly ensure the capital needs of the Company in order to continue to develop the business, broaden the ownership base, and enable Xintela to achieve significant advances. The loans also avoid dilution for existing shareholders which would have occurred in a larger directed share issue at this time.
Shares and share capital
The directed issue represents a dilution of approximately 10.6 percent in relation to the total number of shares after the issue. The new issue will increase the number of shares in Xintela from 26,991,275 shares to a total of 30,196,404 shares, and the share capital will increase by 96,153.87 SEK, from 809,738.25 SEK to a total of 905,892.12 SEK.
Corpura Fondkommission AB has acted as financial adviser. Legal adviser to the company is Fredersen Advokatbyrå AB.
Xintela AB (publ)
Evy Lundgren-Åkerlund, CEO
Tel: 070-329 18 71
223 81 Lund
For investor relations and media questions, please contact:
Mårten Svanberg, Laika Consulting
Tel: 070-362 70 05
Xintela develops medical products for regenerative medicine and cancer based on its proprietary marker technology, XINMARK®. Xintela uses the technology to select and assure the quality of mesenchymal stem cells for the treatment of cartilage damage and osteoarthritis. In a study on horses, the company has shown that stem cells are safe to use and that they have a positive effect on the articular cartilage and the underlying bone after an injury. XINMARK® is also used for the development of an antibody-based treatment (Antibody Drug Conjugate, ADC) against glioblastoma, the most common and aggressive form of brain tumors in adults. Positive preclinical results from cell studies and animal model have shown that the antibody has a killing effect on glioblastoma cells and thus has confirmed the concept. Xintela is listed on Nasdaq First North Stockholm since 22 March 2016. Xintela's Certified Adviser at Nasdaq First North is Erik Penser Bank AB, +46 8-463 80 00.
This information is such information that Xintela AB (publ) is obligated to publish in compliance with the EU market abuse regulation. The information was provided, through the above contact, for publication on the 13th of November 2017, at 08.30 CET.
Below you will find the collected information on Xintela’s press releases, newsletters, diary events, films, media coverage and analyses.
Dr. Marcus Keep comments on Xintelas glioblastoma project.
Xintelas Chairman of the board and strategic advisor Greg Batcheller, tells us more about Xintelas potential and prospects.
Dr. Lisa Fortier at Cornell University, New York is interviewed by BioStock about Xintelas positive results in horse study.
In the following video interview, Karin explains her role at Xintela and what she considers to be Xintela’s primary strengths.
See the interview with Claes Post, member of the board in Xintela. The interview is in swedish with english subtitles.
See the interview with Sven Kili, member of the board in Xintela. The interview is in English (introduction is in Swedish).
See an interview with Xintela's CEO Evy Lundgren-Åkerlund, after the listing ceremony at Nasdaq First North.
Investor presentation from Lund - Jan 27
Interview with Xintelas CEO