Pharma Equity Group: Directed issue with premium to closing price.
The stock rose by nearly 9% on Friday as several updates were released from the company. The company is issuing new shares in a directed issue to new and existing shareholders at 20% above the closing price on October 3, 2024. This issuance represents approximately 20% of the existing capital, thereby strengthening the company’s capital resources with gross proceeds of DKK 51 million. PEG is reducing its convertible debt by DKK 12.6 million, significantly improving its capital structure. At the same time, the company can now fully focus on developing its broad portfolio of drug candidates while leveraging a stronger balance sheet to seek potential partners. read full announcement here: Pharma Equity Group new shares
Following the reduction in share capital, which was approved at the extraordinary general meeting on June 3, 2024, the process can now be completed and is registered with the Danish Business Authority. This means that the nominal value is reduced from DKK 1 to DKK 0.1 according to regulations."
Disclaimer: HC Andersen Capital receives payment from Pharma Equity Group for a Digital IR/Corporate Visibility subscription agreement. /Claus Thestrup 08:15 AM 07-10-2024
Pharma Equity Group
Pharma Equity Group develops new medicines for the local treatment of serious and life-threatening inflammatory diseases for which there is currently no adequate treatment. The company uses repositioning of existing drugs and brings drug candidates to a clinical phase III stage, after which it is handed over to a strategic partner who will complete the development of the products and bring them to market, either independently or in collaboration with the company.
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