The share issue has been triggered by the reaching of a planned milestone in the PMDD study, and it represents 1.5% of the current share capital in Asarina Pharma AB.
Ergomed is responsible for the operational management of Asarina’s phase IIb study. As described in Asarina’s listing prospectus, dated 27 August 2018, Asarina and Ergomed entered into a collaboration agreement on 28 October 2016, by which Ergomed has undertaken to invest EUR 2 million in the collaboration.
Asarina is compensating Ergomed at pre-defined clinical milestones partly by cash, partly by new shares. The current payment to Ergomed amounts to SEK 6,776,934 and the number of shares has been determined at the market price on the invoice date 30 April 2019 (SEK 27.50). The new shares will be transferred to Ergomed during June when they have been registered at Bolagsverket, the Swedish Companies Registration Office.
After the issue, Ergomed will hold 638,332 shares in Asarina Pharma.
The company's total number of outstanding shares increases from 16,037,218 shares to 16,283,652 shares.