May 19, 2017 / 9:09 AM / 7 months ago

BRIEF-Redwood Pharma carries out rights issue of units

May 19 (Reuters) - REDWOOD PHARMA AB:

* SAYS BOARD DECIDED TO CARRY OUT A RIGHTS ISSUE OF UNITS

* ISSUE IS EXPECTED TO RAISE PROCEEDS OF UP TO SEK 24.2 MILLION BEFORE ISSUE COSTS

* PURPOSE OF ISSUE IS TO PREPARE AND IMPLEMENT PLANNED CLINICAL PHASE II STUDY OF COMPANY‘S PRODUCT CANDIDATE RP101

* EACH UNIT CONSISTS OF 1 NEWLY ISSUED SHARE AND 1 NEWLY ISSUED WARRANT

* 5 UNIT RIGHTS ENTITLE TO SUBSCRIBE FOR 4 NEW UNITS

* SUBSCRIPTION PRICE IS SET AT SEK 3.30/UNIT

* SUBSCRIPTION TAKES PLACE FROM JUNE 1 TO JUNE 20

Source text: bit.ly/2rkV6U4

Further company coverage: (Gdynia Newsroom)

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