ABG Sundal Collier acted as Joint Global Coordinator and Joint Bookrunner in the SEK 80m directed share issue in SynAct Pharma

On Monday 12 December 2022, SynAct Pharma announced the successful completion of a directed share issue of 1,277,954 shares at a price of SEK 62.60 per share to companies controlled by Thomas von Koch and Christian Kinch, raising proceeds of SEK 80m. The price was determined by the board of directors after negotiations with the investors and corresponds to the volume-weighted average price of SynAct Pharma’s share on Nasdaq Stockholm during the last 30 trading days preceding the board of directors’ resolution on the directed share issue.
Thomas von Koch (via a company) invests SEK 70m and a company jointly controlled by Thomas von Koch and Christian Kinch invests SEK 10m. SynAct Pharma intends to use the proceeds to finance (i) the development of assets acquired from TXP, (ii) further strengthening the development activities related to AP1189, and (iii) general corporate purposes, extending the runway through to mid-2024.
The transaction builds on a long-term ABGSC relationship with SynAct Pharma, making the transaction the third successful placing in SynAct Pharma since 2021.