case / 07 Jul 2022
Setterwalls has advised Respiratorius and Arcede Pharma in connection with a rights issue and Lex Asea distribution of shares
Setterwalls has advised Respiratorius AB (publ) (“Respiratorius”) in connection with a rights issue of shares and the distribution of all shares in the wholly-owned subsidiary Arcede Pharma AB (“Arcede Pharma”) to the shareholders of Respiratorius, and the subsequent admission to trading of the shares in Arcede Pharma on Spotlight Stock Market.
Respiratorius’ and Arcede Pharma’s top projects are drug candidates in two very different treatment areas and in two completely different development stages, which is not deemed to create any synergies other than general knowledge of drug development. In order to create transparency for the shareholders and investors, as well as to clarify the values of the individual projects in a better way, the board of directors of the parent company Respiratorius resolved to distribute all of the shares in Arcede Pharma to the shareholders of the parent company, in accordance with the so-called Lex Asea-rules. The distribution of shares in Arcede Pharma was preceded by a rights issue in Respiratorius of approximately MSEK 45.
Setterwalls has advised Respiratorius and Arcede Pharma in connection with the rights issue in Respiratorius and the distribution of all shares in Arcede Pharma, as well as the subsequent admission to trading of the distributed shares on Spotlight Stock Market. The trading in Arcede Pharma’s shares commenced on 29 June 2022.