Lytix Biopharma has closed the pre-IPO financing round, and is now finalizing the repair share issue.
- We were able to reach the target of raising 60 MNOK, and the repair share issue was fully subscribed and brought in 20,8 MNOK more.The proceeds for these share issues will fund the rest of the Phase I study and one or two new trials that we are planning, says Torbjørn Furuseth, CFO in Lytix.
The plan is that Lytix Biopharma will go public at the end of this year and be listed at the Nasdaq Stockholm exchange. In order to prepare for the IPO the pre-IPO was directed towards the largest Norwegian shareholders (>1%) as well as Swedish life science investors. The pre-IPO was successful and we reached the target of 60 MNOK. At the moment, we are finalizing the repair issue directed towards those not invited in the pre-IPO. The repair issue was fully subscribed and will bring in the maximum – 20,8 MNOK.