ODI Pharma AB (“ODI Pharma” or “the Company”), a medical cannabis finished product producer, today announces that the Company has been approved for listing on Spotlight Stock Market (“Spotlight”). The listing is approved provided that the lowest limit in the upcoming new share issue is reached and the marketplace’s dilution requirements are met. ODI Pharma also announces that the subscription period in the Company’s new share issue commences today, the 16th of December 2019. The subscription period ends on the 30th of December 2019. At a fully subscribed new share issue the Company will receive approx. MSEK 25 before issue costs. The Company has, prior to the new share issue, signed pre-subscription agreements of approx. 70% of the total issue volume. Information about the Company and the offer is presented in the memorandum and the teaser which, together with the subscription form, are available on the Company’s (www.odipharma.com), Sedermera Fondkommission’s (www.sedermera.se) and Spotlight’s (www.spotlightstockmarket.com) respective web pages. There is also a possibility to subscribe via BankID on Sedermera Fondkommission’s website.
About ODI Pharma
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer of finished pharmaceutical cannabis products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. The founders and board members of the Company have an extensive background in the trading industry, and the medical cannabis industry as well. The Company is a medical cannabis finished product producer and therefore has no cultivation operations. The main focus of ODI Pharma is on the medical cannabis products that are sold to clients and patients through ODI Pharma’s relationships with pharmacies via wholesale distributors. The Company has secured a relationship with one of the leading pharmaceutical wholesalers in Poland, NEUCA. Also, the Company has secured a valuable supply contract through its relationship with one of the largest cannabis producers in Canada, Aphria Inc. The Company intends to provide a range of medical cannabis products which, due to the regulation in Poland, will initially be dried flowers.
ODI Pharma intends to formulate its first order of raw cannabis material from Aphria in early 2020, meaning that the Company intends to start operations on the Polish strategy, starting with educational programs, in early 2020. ODI Pharma intends to initiate educational programs for medical practitioners in Poland, which is part of a branding strategy since companies are not allowed to market pharmaceutical cannabis directly to patients in Poland – instead, education must be provided to the medical practitioners.
CEO of ODI Pharma, Derek Simmross, comments
“It is our great pleasure to invite you to join as a shareholder in ODI Pharma. We are proud to have teamed up with one of the most sophisticated cultivators of medical cannabis, Aphria Inc., and NEUCA, a well-known pharmaceutical distributor in Poland, to be able to provide the Polish market with medical cannabis in 2020. ODI will provide a competitive, high quality product to support our patients in treating their illnesses.”
Approved for listing
ODI Pharma has been approved for listing on Spotlight provided that the lowest limit of the new share issue is reached and that the marketplace’s ownership dilution demands are met. First day of trading on Spotlight Stock Market is planned to take place on the 23rd of January 2020.
Summary of the IPO
Subscription period
16th of December – 30th of December 2019.
Subscription price
SEK 9.20 per share.
Subscription post
The minimum subscription is 600 shares, corresponding to SEK 5,520.
Issue volume and minimum limit for implementation
The offer comprises no more than 2,720,000 shares, equivalent to SEK 25,024,000 before issue costs (amounting to approx. MSEK 2.45). The minimum limit for the new share issue’s implementation is SEK 15,014,400, which represents 60% of the total issue volume.
Number of shares before new share issue
12,500,000 shares.
Valuation (pre-money)
MSEK 115.
Subscription commitments
The Company has received subscription commitments of approx. MSEK 17.5, which corresponds to approx. 70% of the total issue volume.
First day of trading
First day of trading on Spotlight Stock Market is planned to take place on January 23rd, 2020.
Investment memorandum, teaser and subscription form
More information about the Company and the offer is available in the investment memorandum and the teaser which, together with the subscription form, are available on the Company’s (www.odipharma.com), Sedermera Fondkommission’s (www.sedermera.se) and Spotlight Stock Market’s (www.spotlightstockmarket.com) websites. There is also a possibility to subscribe for shares in the new share issue via BankID through Sedermera Fondkommission’s website.
Investor meetings
In relation to the new share issue, ODI Pharma will present at investor meetings in order to describe the business and the future plans. The investor meetings are free of charge to attend, and the registration to attend is done via www.sedermera.se. See below for more information.
• The 18th of December 2019, 11:30-13:00, investor lunch, Börshuset, Skeppsbron 2, Malmö.
• The 19th of December 2019, 11:30-13:00, investor lunch, Scandic Klara Hotel, Slöjdgatan 7, Stockholm.
Financial and legal advisor
Sedermera Fondkommission is the financial advisor and Markets & Corporate Law Nordic AB is the legal advisor in relation to the new share issue and the subsequent planned listing on Spotlight Stock Market.
For more information on ODI Pharma, please contact:
Derek Simmross, CEO, ODI Pharma AB
E-mail: info@odipharma.com
For more information regarding the new share issue and planned listing, please contact:
Sedermera Fondkommission
Phone: +46 40 615 14 10
E-mail: info@sedermera.se
ODI Pharma AB
ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer of finished pharmaceutical cannabis products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.
