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Xbrane Biopharma

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XBRANE UPDATES ON AMORTIZATION ON CONVERTIBLE BOND

Xbrane Biopharma AB (publ) (“Xbrane” or the “Company”) announces that the amortization in December 2023 of the convertible bond issued in May 2023 to CVI Investments, Inc. was made in cash.

In May 2023 Xbrane issued a convertible bond with nominal value of SEK 250 million to CVI Investments. The bond is amortized bi-monthly during 4 years at equal installments, and the Company can elect to amortize in shares or cash. Xbrane has historically amortized one time in cash and one time in shares. The amortization which was due beginning of December 2023 has been done in cash and the current outstanding value of the bond is SEK 218 million. The bond runs with an interest rate of six percent until FDA approval of Ximluci® and thereafter the interest rate will be set to zero percent. The conversion price is set at 93 SEK per share.

Contacts

Martin Åmark, CEO
M: +46 76 309 37 77
E: martin.amark@xbrane.com

Anette Lindqvist, CFO/IR
M: +46 76 325 60 90
E: anette.lindqvist@xbrane.com

About Us

Xbrane Biopharma AB develops biological drugs based on a patented platform technology that provides significantly lower production costs compared to competing systems. Xbrane has a portfolio of biosimilar candidates targeting EUR 27 billion in estimated annual peak sales of the respective reference product. The lead candidate Ximluci® is granted market authorization approval in Europe and was launched during the first quarter 2023. Xbrane’s head office is in Solna, just outside Stockholm. Xbrane is listed on Nasdaq Stockholm under the ticker XBRANE. For more information, visit www.xbrane.com  

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XBRANE UPDATES ON AMORTIZATION ON CONVERTIBLE BOND

Datum 2023-12-07, kl 09:45
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