ObsEva to Increase Issued Share Capital by Creating Additional Treasury Shares

Rhea-AI Summary

ObsEva SA (NASDAQ: OBSV) has approved an increase in its share capital from 60,202,619 to 66,222,867 by issuing 6,020,248 new shares at a price of 1/13 Swiss Franc each. The new shares will be fully subscribed by ObsEva USA Inc., a wholly owned subsidiary, and listed on the SIX Swiss Exchange around February 2, 2021. This move aims to provide treasury shares for future fundraising and equity plans. ObsEva develops therapeutics for women's reproductive health, focusing on endometriosis and related conditions.

Positive

• Increase of share capital from 60,202,619 to 66,222,867 shares.
• Issuance of 6,020,248 new shares to strengthen financial position.

Negative

• Issuing new shares may dilute existing shareholder value.

 

Geneva, Switzerland and Boston, MA – Thursday 28 January, 2021 – ObsEva SA (NASDAQ: OBSV / SIX: OBSN), a Swiss clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for serious conditions that compromise a woman’s reproductive health and pregnancy, announced today that its board of directors approved on January 27, 2021 an increase of its share capital from 60,202,619 to 66,222,867 through the issuance of 6,020,248 new registered shares at an issue price of 1/13 of a Swiss Franc each. The 6,020,248 new shares, to be issued out of the company’s authorized capital, will be fully subscribed for by ObsEva USA Inc., its 100% wholly owned subsidiary, and listed on the SIX Swiss Exchange on or around February 2, 2021. The transaction has been decided to provide the group with additional treasury shares that can be used in the future to raise funds in an efficient manner, as well as for the equity plans of the company and its subsidiaries.

 

About ObsEva

ObsEva is a biopharmaceutical company developing and commercializing novel therapies to improve women’s reproductive health and pregnancy. Through strategic in-licensing and disciplined drug development, ObsEva has established a late-stage clinical pipeline with development programs focused on treating endometriosis, uterine fibroids, preterm labor, and improving ET outcomes following IVF. ObsEva is listed on the Nasdaq Global Select Market and is trading under the ticker symbol "OBSV" and on the SIX Swiss Exchange where it is trading under the ticker symbol “OBSN”. For more information, please visit www.ObsEva.com.

 

For further information, please contact:

CEO Office contact / Investor contact
Shauna Dillon
Shauna.dillon@obseva.ch
+41 22 552 1550

 

Attachment

• Press Release in Pdf

FAQ

What is ObsEva's recent share capital increase announcement dated January 28, 2021?

ObsEva announced an increase in share capital from 60,202,619 to 66,222,867 by issuing 6,020,248 new shares.

How many new shares did ObsEva issue and at what price?

ObsEva issued 6,020,248 new registered shares at an issue price of 1/13 Swiss Franc each.

When will the new shares be listed on the SIX Swiss Exchange?

The new shares are expected to be listed on the SIX Swiss Exchange on or around February 2, 2021.

Who will subscribe to the new shares issued by ObsEva?

The new shares will be fully subscribed by ObsEva USA Inc., a 100% wholly owned subsidiary.

What is the purpose of the new share issuance by ObsEva?

The issuance aims to provide additional treasury shares for future fundraising and equity plans.