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DANMARKS STØRSTE INVESTORSITE MED DEBAT, CHAT OG NYHEDER

Zealand - announces directed issue and private placemenent


111758 ProInvestorNEWS 30/3 2023 17:10
Oversigt

Company announcement - No. 10 / 2023

Zealand Pharma announces directed issue and private placement of approximately 6.5 million new shares

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN OR SOUTH AFRICA, EXCEPT AS PERMITTED BY APPLICABLE LAW.

THIS ANNOUNCEMENT IS NOT AN OFFER OF SECURITIES FOR SALE IN THE UNITED STATES AND THE SECURITIES REFERRED TO HEREIN MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION EXCEPT PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE U.S. SECURITIES ACT; ANY PUBLIC OFFERING OF SUCH SECURITIES TO BE MADE IN THE UNITED STATES WILL BE MADE BY MEANS OF A PROSPECTUS THAT MAY BE OBTAINED FROM THE ISSUER, WHICH WOULD CONTAIN DETAILED INFORMATION ABOUT THE COMPANY AND MANAGEMENT, AS WELL AS FINANCIAL STATEMENTS.

A directed share offering to certain institutional and professional investors through an accelerated bookbuilding process will begin immediately.
The net proceeds from the issue are expected to be used to fund continued development of Zealand's proprietary pipeline of investigational peptide-based therapeutics, support pre-commercial activities, and general corporate purposes.

Copenhagen, Denmark, 30 March 2023 - Zealand Pharma A/S ("Zealand") (Nasdaq: ZEAL), (CVR-no. 20 04 50 78), a biotechnology company focused on the discovery and development of innovative peptide-based medicines, announces the launch of an offering of new shares at market price (the "Offering"). The Offering will be completed through an accelerated bookbuilding process and will consist of approx. 6.5 million new shares (the "New Shares") in a private placement directed at institutional and professional investors in Denmark and certain other jurisdictions.

Background for the Offering

The net proceeds from the Offering are (in the following prioritized order) intended to:

Support the remaining late stage rare disease assets, and pursue a strong strategic partner for future commercialization
Advance the clinical-stage candidates, including the obesity/metabolic disease portfolio that includes the clinical-stage GLP-1/GLP-2 dual agonist (dapiglutide) and amylin analog (ZP8396); and non-clinical stage GIP analog (ZP6590)
Progress additional peptide candidates from non-clinical development into early clinical development
Continue its early discovery and research to develop additional peptide candidates
Strengthen the Company's capital base and cash preparedness (general corporate purposes)

Zealand expects the new funds to provide cash runway to mid-2026 and expects to advance the clinical pipeline and as such reach several potential key milestones within this time frame. The Company is prioritizing resources on R&D and expects to engage in strategic partnerships for commercialization and co-development.

Terms of the Offering

The Offering has not been registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), and will be made pursuant to applicable exemptions from the obligation to publish a Danish prospectus in Denmark as well as exemptions from the U.S. Securities Act and the securities laws of other applicable jurisdictions. The Offering will be made at market price and without pre-emption rights for Zealand's existing shareholders. The Offering is not underwritten.

A prospectus will be published by Zealand, expectedly on 3 April 2023, for the admission to trading and official listing on Nasdaq Copenhagen A/S of the New Shares, but said prospectus was not and will not be used for the Offering.

The subscription price and the final number of New Shares in the Offering will be determined through an accelerated bookbuilding process (the "Bookbuilding") as part of the Offering. The Bookbuilding for the Offering will open with immediate effect and can close at any time. The offer price and allocation will be determined after the close of the Bookbuilding process at Zealand's discretion. The result of the Offering, the offer price and the total number of New Shares are expected to be announced as soon as practicable thereafter in a company announcement. If the Offering is oversubscribed, an individual allocation of the New Shares will be made.

The New Shares will, if issued, be issued in the systems of VP Securities A/S ("Euronext Securities") and delivered to the investors in the temporary ISIN code DK0062271045. No application for admission to trading and official listing has been, or will be, filed for the New Shares issued under the temporary ISIN code, and the temporary ISIN code will only be registered with Euronext Securities for subscription for the New Shares. The temporary ISIN code in Euronext Securities will be merged with the permanent ISIN code for the existing shares, DK0060257814, as soon as possible following registration of the share capital increase with the Danish Business Authority. New Shares are, if issued, expected to be admitted to trading and official listing on Nasdaq Copenhagen A/S, in the ISIN code for the existing shares, DK0060257814, following issuance, expectedly on 5 April 2023.

In connection with the Offering, Zealand has agreed to undertake a lock-up commitment for 180 calendar days following the date hereof, subject to certain customary exceptions and exemption in relation to issue of warrants to financing providers. In addition, the members of Zealand's executive management and board of directors have agreed to undertake a lock-up commitment for 90 calendar days following the date hereof, subject to certain customary exemptions and a carveout for the sale of a limited number of shares to cover the subscription price for shares acquired by way of exercise of warrants in March 2023 and tax related thereto.

Danske Bank A/S, Goldman Sachs International, Jefferies GmbH and Nordea Danmark, Filial af Nordea Bank Abp, Finland are acting as joint global coordinators and joint bookrunners in the Offering, and Van Lanschot Kempen N.V is acting as lead manager in the Offering (the joint global coordinators and the lead manager are jointly referred to as the "Managers").

Plesner and Cooley LLP are acting as Danish and U.S. legal advisors respectively to Zealand for the Offering. Kromann Reumert is acting as legal advisor to the Managers.

Share capital increase

The board of directors of Zealand is, if the Offering is completed, expected to exercise its authorization in article 7.1 of Zealand's articles of association granted by Zealand's general meeting at the annual general meeting 29 March 2023, to issue the New Shares and increase Zealand's share capital accordingly.

Expected timetable for the Offering

Bookbuilding will commence immediately and can close at any time.

Completion of the Offering, including the admission to trading and official listing of the New Shares, is subject to the Offering not being withdrawn prior to the settlement hereof and Zealand making an announcement to that effect.
Expected 30 March 2023 Pricing and allocation - announcement of subscription price
Expected 3 April 2023 Publication of prospectus for admission to trading and official listing on Nasdaq Copenhagen A/S of the New Shares
Expected 4 April 2023 Registration of the New Shares with the Danish Business Authority
Expected 4 April 2023 Settlement and payment against delivery of the New Shares. The New Shares will be delivered in the temporary ISIN code
Expected 5 April 2023 Admittance to trading and official listing of the New Shares, in the ISIN code for the existing shares, DK0060257814, on Nasdaq Copenhagen A/S
Expected 11 April 2023 Merger of the temporary ISIN code with the permanent ISIN code


Certain information in the prospectus

The prospectus to be published by Zealand, expectedly on 3 April 2023, for the admission to trading and official listing on Nasdaq Copenhagen A/S of the New Shares, will contain the following information on Zealand's consolidated capitalization and indebtedness as of 31 January 2023 (unaudited):
Capitalization (DKK'000)
Total current debt.................................................................................

41,600
Guaranteed.............................................................................................. 0
Secured(1),................................................................................................ 41,600
Unsecured/unguaranteed(2)........................................................................ 0

Total non-current debt.......................................................................... 396,409
Guaranteed.............................................................................................. 0
Secured(3),................................................................................................ 396,409
Unsecured/unguaranteed(4)........................................................................ 0

Shareholder equity 815,911
Share capital............................................................................................ 51,702
Legal reserves.......................................................................................... 0
Other reserves......................................................................................... 764,209

Total...................................................................................................... 1,253,920


(1) Secured by 200,000 treasury shares.
(2) Excludes DKK 14.7 million in current lease liabilities.
(3) Debt secured by floating charge collateral covering with all assets in Zealand which can be collateralized, including shares in certain subsidiaries.
(4) Excludes DKK 105.5 million in non-current lease liabilities.


Net indebtedness (DKK'000)
(A) Cash.................................................................................................. 621,726
(B) Cash subject to certain conditions(1)................................................. 343,340
(C) Other current financial assets(2)........................................................ 140,410
(D) Liquidity (A)+(B)+(C).................................................................... 1,105,476
(E) Current financial debt (including debt instruments, but excluding current portion of non-current financial debt)..

41,600
(F) Current portion of non-current financial debt(3).................................. 14,654
(G) Current financial indebtedness (E)+(F) ......................................... 56,254
(H) Net current financial indebtedness (G)-(D) ................................... -1,049,222
(I) Non-current debt, financial debt (excluding current portion and debt instruments)(4)...

421,613
(J) Debt instruments................................................................................ 80,291
(K) Non-current trade and other payables............................................... 19,058
(L) Non-current financial indebtedness (I)+(J)+(K) ........................... 520,962
(M) Total financial indebtedness (H)+(L)] .......................................... -528,260


(1) USD 50.0 million must be held in a designated deposit account. The funds can be released in increments of USD 10 million for purposes of operating Zealand's business in the ordinary course upon prior notice to Oberland Capital.
(2) Includes marketable securities and excludes accounts receivables and contract assets
(3) Includes DKK 14.7 million in current lease liabilities.
(4) Includes DKK 105.5 million in non-current lease liabilities.



Contacts:

Anna Krassowska, Vice President, Investor Relations & Corporate Communications
AKrassowska@zealandpharma.com

Henriette Wennicke, Executive Vice President and Chief Financial Officer
HWennicke@zealandpharma.com

Adam Steensberg, President and Chief Executive Officer
ASteensberg@zealandpharma.com

About Zealand Pharma A/S




30/3 2023 18:01 Helge Larsen/PI-redaktør 4111765



Zealand Pharma laver rettet emission på 6,5 mio. nye aktier

30/3 17:35

Zealand Pharma har annonceret, at selskabet går i gang med en rettet emission af cirka 6,5 mio. nye aktier gennem en accelereret bookbuilding.

Det fremgår af en fondsbørsmeddelelse torsdag eftermiddag.

Emissionen vil blive rettet mod visse institutionelle og professionelle investorer, og vil gå i gang med det samme, oplyser selskabet.

Sælges de udbudte aktier til torsdagens lukkekurs på 240,60 kr., vil det give et bruttoprovenu på knap 1,6 mia. kr.

Nettoprovenuet vil blive brugt på fortsat udvikling af Zealand Pharmas egen pipeline samt af styrke selskabets kapitalgrundlag.

Med emissionen venter Zealand Pharma at have tilstrækkelig kapital indtil midten af 2026.

Zealand Pharma oplyser, at emissionen vil gå i gang med det samme og kan være afsluttet når som helst.

Det endelige prospekt ventes offentliggjort 3. april.

.\˙ MarketWire



30/3 2023 18:45 exitnu 4111767



"Expected 30 March 2023 Pricing and allocation - announcement of subscription price"



30/3 2023 22:52 exitnu 5111770



Kurs DKK 228

Zealand Pharma announces completion of a directed issue and private placement of 6,578,948 million new ordinary shares raising gross proceeds of DKK 1.5 billion

https://www.globenewswire.com/news-release/2023/03/30/2638243/0/en/Zealand-Pharma-announces-completion-of-a-directed-issue-and-private-placement-of-6-578-948-million-new-ordinary-shares-raising-gross-proceeds-of-DKK-1-5-billion.html

- 6,578,948 New Shares were subscribed for in the Offering;

- the subscription price for the New Shares is DKK 228 per New Share;

- total gross proceeds from the Offering will amount to DKK 1.5 billion;



31/3 2023 06:57 ProInvestorNEWS 3111772



Zealand Pharma gennemfører aktieemission og henter 1,5 mia. kr.

31/3 06:35

Zealand Pharma har gennemført en rettet emission af cirka 6,6 mio. nye aktier gennem en accelereret bookbuilding. Der giver selskabet et bruttoprovenu på 1,5 mia. kr.

Det fremgår af en fondsbørsmeddelelse torsdag aften, efter at selskabet torsdag eftermiddag meddelte, at processen nu var i gang.

Emissionen var rettet mod institutionelle og professionelle investorer.

De i alt 6.578.948 nye aktier vil blive udstedt til 228 kr. stykket. Til sammenligning lukkede Zealand Pharma-aktien torsdag i 240,60 kr.

Nettoprovenuet vil blive brugt på fortsat udvikling af Zealand Pharmas egen pipeline samt af styrke selskabets kapitalgrundlag.

Med emissionen venter Zealand Pharma at have tilstrækkelig kapital indtil midten af 2026.

.\˙ MarketWire



1/4 2023 16:25 mccarthy 2111808



Kan se at mit nyligt skrevne indlæg ikke er her.
Måske det bedste. Jeg er skuffet så det svier, over at Alan S. trækker sig, og at endnu en kapitalinsprøjtning finder sted. Jeg havde regnet med en SBS wonderstory, aber nicht.
Griner lidt af udtrykket ZPs Pipeline, som er SBS som aldrig virkelidhedgøres; resten er da nada.
Skuffet, JA.
Håber det bedste for jer aktionære og pas på derude.



1/4 2023 17:49 W435wr!Sp 2111813



31/3 Zeal faldt -10,7%, er kursfesten forbi eller er det et godt tilbud ??



2/4 2023 08:48 Helge Larsen/PI-redaktør 2111820



Hej W435wr!Sp , Læs eventuelt med i Zealand Pharma Chatten.



2/4 2023 08:47 Helge Larsen/PI-redaktør 2111819



Hej mccarthy, Hvad mener du med med at "dit nyligt skrevne indlæg ikke er her"? Du har ikke postet et sådant kan vi se i vores log. (Vi har selvfølgelig heller ikke slettet indlægget, hvis du rent faktisk havde postet det).

Hvad mener du med, at "Alan S" trækker sig. Er det Adam Steensberg du mener?



2/4 2023 09:26 mccarthy 2111821



Jeg skrev et indlæg som forsvandt. Om jeg har fumlet med tasterne eller? Og selfølgelig er det Adam S, beklager - det må være varmen hernede der driller. Og hvor er jeg ærgerlig over ZPs udmelding. Endelig troede jeg, endelig er vi næsten i mål. Nu føler jeg mig som ludobrikken der er slået hjem.
Ha' en god søndag.



2/4 2023 09:37 Helge Larsen/PI-redaktør 2111822



Hej mccarthy, den slags sker af og til også for mig. Især hvis det er mobilen, jeg fumler med.

Umiddelbart ser jeg ingen ændring i casen udover, at selskabet har fået bedre økonomisk polstring til de kommende år. Det betragter jeg som rettidig omhu.

Hvad mener du, at Adam Steensberg har trukket sig?

Også god søndag til dig. :−)



4/4 2023 08:43 ProInvestorNEWS 0111852



Zealand has today completed and registered a capital increase of 6,578,948 new shares

Copenhagen, Denmark, 4 April 2023 - Further to the company announcements no. 10 and 11 / 2023, Zealand Pharma A/S ("Zealand") (Nasdaq: ZEAL), (CVR-no. 20 04 50 78), a biotechnology company focused on the discovery and development of innovative peptide-based medicines, announces that it has today, as part of completion of a directed issue and private placement (the "Offering"), registered with the Danish Business Authority, the capital increase of approx. DKK 1.5 billion, divided into 6,578,948 ordinary shares (the "New Shares").

Following the registration of the New Shares with the Danish Business Authority, Zealand's share capital amounts to DKK 58,582,005 divided into 58,582,005 shares with a nominal value of DKK 1 each.

The New Shares rank pari passu with Zealand's existing shares and carry the same dividend and other rights. Each New Share carries one vote at Zealand's general meetings. Zealand only has one class of shares.

The New Shares have been issued under a temporary ISIN code and are expected to be admitted to trading on Nasdaq Copenhagen on 5 April 2023 in Zealand's permanent ISIN code DK0060257814. The temporary ISIN code is expected to be merged with the permanent ISIN code on 11 April 2023.

The amendments to Zealand's articles of association required by the capital increase have been registered today with the Danish Business Authority.

Managers and legal counsels:

Danske Bank A/S, Goldman Sachs International, Jefferies GmbH and Nordea Danmark, Filial af Nordea Bank Abp, Finland are acting as joint global coordinators and joint bookrunners in the Offering, and Van Lanschot Kempen N.V. is acting as lead manager in the Offering (the joint global coordinators and the lead manager are jointly referred to as the "Managers").

Plesner and Cooley LLP are acting as Danish and U.S. legal advisors respectively to Zealand. Kromann Reumert is acting as legal advisor to the Managers.

Contacts:

Zealand Pharma

Anna Krassowska, Vice President, Investor Relations & Corporate Communications
AKrassowska@zealandpharma.com

Henriette Wennicke, Executive Vice President and Chief Financial Officer
HWennicke@zealandpharma.com

Adam Steensberg, President and Chief Executive Officer
ASteensberg@zealandpharma.com

About Zealand Pharma A/S



TRÅDOVERSIGT