case / 06 Oct 2020
Setterwalls has advised Guard Therapeutics in connection with rights issue and over-allotment
Setterwalls has advised Guard Therapeutics International AB (publ) in connection with a rights issue that was subscribed to approximately 214 per cent, and subsequent over allotment-issue to accommodate over-subscription in the rights issue.
Guard Therapeutics International AB (publ) is a drug development company focused at the development of drugs to prevent oxidative stress and acute kidney damage. In several preclinical studies, the company’s main drug candidate ROSgard has been documented to protect against cell and organ damage, including acute kidney damage, by preventing oxidative stress and supporting regenerative processes.
The rights issue was subscribed to approximately 214 per cent. In order to accommodate the over-subscription in the rights issue, the board of directors of the company resolved on a subsequent over-allotment issue to those who did not receive full allotment in the rights issue. Through the rights issue and the over-allotment issue, the company receives issue proceeds of approximately SEK 76.5 million before issue costs.