ObsEva to Increase Issued Share Capital by Creating Additional Treasury Shares

Rhea-AI Summary

ObsEva SA (NASDAQ: OBSV / SIX: OBSN) announced a board decision on February 10, 2021, to increase its share capital from 69,629,347 to 81,220,471 shares. This includes the issuance of 11,591,124 new shares priced at 1/13 of a Swiss Franc, with 3,406,480 shares registered from conditional capital. The new shares will be fully subscribed by ObsEva USA Inc. and listed on the SIX Swiss Exchange around February 18, 2021. This move is aimed at providing additional treasury shares for future fundraising and equity plans.

Positive

• Increase in share capital from 69.6 million to 81.2 million shares.
• Issuance of 11.6 million shares to enhance treasury for future fundraising.

Negative

• Dilution of existing shareholders due to new share issuance.

 

Geneva, Switzerland and Boston, MA – Thursday 11 February, 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 February 10, 2021 an increase of its share capital from 69,629,347 to 81,220,471 through the issue of 11,591,124 new registered shares at an issue price of 1/13 of a Swiss Franc each, after registration of 3,406,480 new shares issued out of the company’s conditional share capital. The 11,591,124 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 18, 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 clinical-stage biopharmaceutical company focused on the clinical development and commercialization of novel therapeutics for serious conditions that compromise a woman’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 IVF outcomes. 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:
Shauna Dillon
Shauna.dillon@obseva.ch
+41 22 552 1550

Investor Contact
Joyce Allaire
jallaire@lifesciadvisors.com
+1 (617)-435-6602

 

Attachment

• Press Release in Pdf

FAQ

What is the recent share capital increase by ObsEva?

ObsEva increased its share capital from 69,629,347 to 81,220,471 shares as of February 10, 2021.

How many new shares did ObsEva issue?

ObsEva issued 11,591,124 new shares at a price of 1/13 Swiss Franc each.

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

The new shares are expected to be listed on the SIX Swiss Exchange on or around February 18, 2021.

Who will subscribe to the new shares issued by ObsEva?

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

What is the purpose of the share capital increase for ObsEva?

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