Immunicum AB
Immunicum has completed a private placement and resolved on a fully underwritten rights issue

Immunicum AB 

02.04.2014 08:50

Dissemination of a Adhoc News, transmitted by DGAP - a company of EQS Group
AG.
The issuer is solely responsible for the content of this announcement.

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Göteborg, Sweden, 2014-04-02 08:50 CEST (GLOBE NEWSWIRE) -- Not for distribution, directly or indirectly, in or
into the United States, Australia, Canada, Singapore, Switzerland, South
Africa, Japan, Hong Kong or New Zealand or in any jurisdiction in which the
distribution or release of this press release would be unlawful. 

Immunicum AB (publ) ('Immunicum' or the 'Company') has successfully completed a
private placement of 3,500,000 shares at a price of SEK 16.00, raising a total
of SEK 56 million before issue costs. The board of directors of Immunicum has
also resolved on a rights issue of new shares, raising a maximum of SEK
44,080,000, on the following terms: 

·       The Company's current shareholders have preferential right to subscribe
for the new shares 

·       Up to 2,755,000 new shares will be issued in the rights issue.

·       Record date is set to 11 April 2014

·       Five (5) existing shares entitle the holder to subscribe for one (1)
new share 

·       Subscription price is set to SEK 16.00, which corresponds to the price
in the private placement 

·       Subscription period runs 14-28 May 2014

·       The rights issue is fully underwritten

The share issues will together bring Immunicum gross proceeds of approximately
SEK 100 million. 

The proceeds from the share issues are mainly intended to be used to finance
the company through its planned kidney cancer (RCC) clinical phase II study
until expected termination of the study in 2017, in addition to completing the
ongoing clinical phase I/II study in liver cancer (HCC). 

After the private placement and assuming a fully subscribed rights issue, the
total number of shares will amount to 20,030,000, of which the new shares
represent approximately 31 percent. The Company's share capital will increase
by up to SEK 312,750, from SEK 688,750 to up to SEK 1,001,500. 



Private placement

The board of directors of Immunicum has, pursuant to an authorization from the
general meeting held on 3 December 2013, resolved to issue 3,500,000 new shares
through a private placement directed to a group of qualified  Swedish and
international investors (the 'Private Placement'). 

The price of the new shares was set to SEK 16.00 per new share through a book
building procedure. Through the Private Placement the Company has raised SEK 56
million before issue costs. 

The newly issued shares carry the right to dividend on the first record date
for dividend following the registration of the shares with Euroclear Sweden AB. 

The reason for deviating from the shareholders' preferential rights by
conducting a directed new share issue is to secure capital and strengthen the
shareholder base, and thereby promoting Immunicum' s ability to create further
value for all shareholders. 

Investors who subscribed for shares in the Private Placement will not be
eligible for subscription rights on the basis of their new shares. 



Rights issue

The board of directors of Immunicum has, pursuant to an authorization from the
general meeting held on 3 December 2013, resolved to issue up to 2,755,000 new
shares, where the current shareholders has preferential right to subscribe for
new shares (the 'Rights Issue'). The Company's shareholders will have
preferential right to subscribe for new shares in relation to the number of
shares owned on the record date. If the Rights Issue is fully subscribed, the
gross proceeds will amount to SEK 44,080,000 and the share capital will be
increased by up to SEK 137,750. 

Existing shareholders whose ownership corresponds to approximately 42 percent
of the share capital have undertaken not to use or sell the subscription rights
they are assigned in connection with the Rights Issue. This is to give the
opportunity to the Company's existing shareholders to subscribe for shares in
excess of their preferential rights in order to principally maintain their
share of votes and equity in Immunicum upon completion of both share issues. 

Shares not subscribed for by way of subscription rights can be subscribed for
by shareholders and other external investors without subscription rights,
thereafter allotment will be made in accordance with the board of directors'
principles. 

The Rights Issue is fully underwritten by a guarantee consortium put together
by Pareto Securities AB. 

Those who on the record date, 11 April 2014, own shares in the Company will be
granted subscription rights. For each (1) existing share, one (1) subscription
right is received. Five (5) subscription rights entitles the holder to
subscribe for one (1) new share at a subscription price of SEK 16.00 per share. 

The subscription price represents a discount to TERP (theoretical ex-rights
price) of 35 percent after both share issues based on yesterday's closing price
of SEK 28.60 per share. 

Through the Rights Issue, the Company's share capital increases by a maximum of
SEK 137,750 and the number of shares increase by a maximum of 2,755,000. 

The subscription period runs from 14 May to 28 May 2014. The board of directors
may extend the subscription period and the payment period. Trading in
subscription rights will take place on NASDAQ OMX First North from 14 May to 23
May 2014. Subscription rights not exercised for subscription on 28 May 2014 or
sold by 23 May 2014 will be void and without value. 



Preliminary timeplan:

8 April 2014
                               Last day of trading in the Company's shares with
the right to receive subscription rights 



11 April 2014                              Record
date for the Rights Issue 



14 May 2014 - 23 May 2014      Trading in
subscription rights 



14 May 2014 - 28 May 2014      Subscription
period 



Around 3 June 2014                  Announcement
of result of the Rights Issue 





The resolutions to issue new shares are available on the Company's website. In
addition, detailed terms for the Rights Issue will be described in the
prospectus expected to be published on or about 12 May 2014 which will be
available on the Company website, www.immunicum.com. 

Pareto Securities AB is acting as financial adviser and sole bookrunner in the
Private Placement and the Rights Issue. 



For further information please contact:

Jamal El-Mosleh, CEO of Immunicum, +46 31 41 50 53,

jamal.el-mosleh@immunicum.com



About Immunicum AB (publ):

Immunicum AB (publ) develops cancer immunotherapies. Its two main groups of
therapeutic cancer vaccines, SUBCUVAX(R) and INTUVAX(R), and the method of
expansion of tumor-specific T-cells (CD70) is based on the Nobel prize awarded
discovery of the dendritic cell and its central role in the activation of the
specific immune response. Since the raw material consists of allogeneic
dendritic cells, Immunicum's products can be produced in large scale. The
vaccines are now undergoing clinical trials in renal cell carcinoma and
hepatocellular carcinoma. 

www.immunicum.com

Redeye AB is chosen as the Company's Certified Adviser.

Tel: 08-545 013 31. www.redeye.se



Important notice

The information in this press release is not for
release, publication or distribution, directly or indirectly, in or into the
United States, Australia, New Zeeland, Hong Kong, Japan, Canada, Singapore,
Switzerland or South Africa. The distribution of this press release in certain
other jurisdictions may be restricted. The information in this press release
shall not constitute an offer to sell or the solicitation of an offer to
purchase any securities in Immunicum in any jurisdiction. This press release
does not constitute, or form part of, an offer or solicitation to purchase or
subscribe for securities in the United States. The securities referred to
herein may not be offered or sold in the United States absent registration or
an exemption from registration as provided in the U.S. Securities Act of 1933,
as amended. Immunicum does not intend to register any portion of the offering
of the securities in the United States or to conduct a public offering of the
securities in the United States. Copies of this announcement are not being
distributed or sent and may not be distributed or sent to the United States,
Australia, New Zeeland, Hong Kong, Japan, Canada, Singapore, Switzerland or
South Africa. 

This document has not been approved by any
regulatory authority. This document is a press release and not a prospectus and
investors should not subscribe for, or purchase any securities referred to in
this document, except on the basis of information that will be provided in the
prospectus to be published by Immunicum on its web site in due course. 

European Economic Area

Immunicum has not resolved to offer to the public
shares or rights in any Member State of the European Economic Area other than
Sweden and any other jurisdiction into which the offering of shares or rights
may be passported. Within such Member States of the European Economic Area
other than Sweden (and any other jurisdiction into which the offering of shares
or rights may be passported) and which has implemented the Prospectus Directive
(each, a 'Relevant Member State'), no action has been undertaken as of this
date to make an offer to the public of shares or rights requiring a publication
of a prospectus in any Relevant Member State. As a result hereof, the shares or
rights may only be offered in Relevant Member States: (a) to a qualified
investor (as defined in the Prospectus Directive or under applicable law); or
(b) in any other respect that does not require that Immunicum publishes a
prospectus in accordance with Article 3(2) of the Prospectus Directive. 

For the purposes hereof, the expression an 'offer
to the public of shares or rights' in any Relevant Member State means the
communication, in any form, of sufficient information on the terms of the offer
and the shares or rights to be offered so as to enable an investor to decide to
purchase any securities, as the same may be varied in a Relevant Member State
due to the implementation of the Prospectus Directive in that Member State and
the expression 'Prospectus Directive' means Directive 2003/71/EC including any
relevant implementing measure in each Relevant Member State. 

Pareto Securities AB is acting for Immunicum and
no one else in connection with the Rights Issue and the Private Placement and
will not be responsible to anyone other than Immunicum for providing the
protections afforded to its clients or for providing advice in relation to the
Rights Issue, the Private Placement and/or any other matter referred to in this
announcement. 

Pareto Securities AB accepts no responsibility
whatsoever and makes no representation or warranty, express or implied, for the
contents of this announcement, including its accuracy, completeness or
verification or for any other statement made or purported to be made by Pareto
Securities AB, or on its behalf, in connection with Immunicum and the new
shares, the Rights Issue or the Private Placement, and nothing in this
announcement is, or shall be relied upon as, a promise or representation in
this respect, whether as to the past or future. Pareto Securities AB
accordingly disclaims to the fullest extent permitted by law all responsibility
and liability whether relating to damages, contract or otherwise which it might
otherwise have in respect of this announcement or any such statement. 

Forward-looking statements

This press release contains forward-looking
statements that reflect management's current views with respect to future
events and potential financial performance. Although Immunicum believes that
the expectations reflected in such statements are reasonable, no assurance can
be given that such expectations will prove to have been correct. Accordingly,
results can differ materially from those set out in the forward-looking
statements as a result of various factors. You are advised to read this
announcement, and the prospectus and the information incorporated by reference
therein once available, in their entirety for a further discussion of the
factors that could affect the Immunicum's future performance and the industries
in which Immunicum operates. In light of these risks, uncertainties and
assumptions, it is possible that the events described in the forward-looking
statements in this announcement may not occur.
News Source: NASDAQ OMX



02.04.2014 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      Immunicum AB
              
               
              Sweden
Phone:        
Fax:          
E-mail:       
Internet:     
ISIN:         SE0005003654
WKN:          
 
End of Announcement                             DGAP News-Service
 
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