Reference is made to the stock exchange announcement published by Targovax ASA (the “Company”) earlier today, on 4 November 2021, regarding the resolution by the Company’s board of directors to propose that the Company carries out a share capital increase, by way of a fully underwritten rights issue, to raise gross proceeds of NOK 175 million (the “Rights Issue”).
Date on which the terms and conditions of the preferential rights issue were announced: 4 November 2021
Last day including right: 25 November 2021
Ex-date: 26 November 2021
Record Date: 29 November 2021
Date of approval: 25 November 2021
Maximum number of new shares: 350,000,000
Subscription price: Minimum NOK 0.50 and maximum NOK 10.00
Ratio preferential rights: To be announced when final number of new shares is determined
Subscription ratio: To be announced when final number of new shares is determined
Managers: Carnegie AS and DNB Markets, a part of DNB Bank ASA
Will the rights be listed: The Company will apply for listing of the preferential rights on the Oslo Stock Exchange
ISIN for the preferential rights: To be announced when clarified
Other information: The subscription price for the new shares to be issued in the Rights Issue, and thus the final number of new shares and the exact amount of the share capital increase will be proposed by the board of directors, based on a recommendation from the Managers, the day prior to the extraordinary general meeting to be held on 25 November 2021 (the “EGM”). See the stock exchange announcement containing the notice to the EGM published earlier today, on 4 November 2021, for further information regarding the Rights Issue. The rights issue is subject to approval by the EGM.
This information is published in accordance with the requirements of the Continuing Obligations.
For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Renate Birkeli, Investor Relations
Phone: +47 922 61 624
Andreas Tinglum – Corporate Communications (Norway)
Phone: +47 9300 1773
Activating the patient's immune system to fight cancer
Targovax (OSE:TRVX) is a clinical stage immuno-oncology company developing immune activators to target hard-to-treat solid tumors. Targovax aims to unlock greater clinical benefits in cancer patients by deploying its multifunctional platforms to target key immune regulators and oncogenic drivers. Targovax’s focus is to “activate the patient’s immune system to fight cancer”, thus extending and transforming the lives of cancer patients. Targovax’s pipeline aims at different cancer indications, including melanoma, mesothelioma and colorectal cancer. The company’s product candidates are designed to harness the patient’s own immune system to fight the cancer, whilst also delivering a favorable safety and tolerability profile.
Targovax’s lead clinical candidate, ONCOS-102, is a genetically modified oncolytic adenovirus, which has been engineered to selectively infect cancer cells and activate the immune system to fight the cancer. On the back of very encouraging clinical data in several indications, both in monotherapy and in multiple combinations, the next development steps for ONCOS-102 will be to further improve responses in melanoma patients resistant to or poorly responsive to current standard of care.