September 20, 2019 / 12:35 PM / a month ago

BRIEF-Karo Pharma Intends To Increase Planned Rights Issue

Sept 20 (Reuters) - Karo Pharma:

* SAID ON THURSDAY INTENDS TO INCREASE THE PLANNED RIGHTS ISSUE IN EXCESS OF WHAT IS REQUIRED TO REPAY THE BRIDGE LOAN FACILITY, AND RAISE TOTAL PROCEEDS OF APPROXIMATELY MSEK 2,000

* INITIALLY KARO PHARMA INTENDED TO USE ISSUE PROCEEDS ONLY TO REPAY BRIDGE LOAN FACILITY OF MSEK 1,500 RELATED TO ACQUISITION OF TRIMB HOLDING AB

* SAYS LARGER RIGHTS ISSUE ALLOWS MORE ROOM FOR MANOEUVRE TO CAPTURE MARKET OPPORTUNITIES AND CONTINUE THE EFFORTS RELATED TO INTERNALISATION OF THE SALES ORGANISATION

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Further company coverage: (Gdynia Newsroom)

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