Nordic Nanovector

Nordic Nanovector ASA, and all shareholders of APIM Therapeutics, a privately held, clinical-stage cancer-focused biotechnology company, have on 9 November 2022 announced that they have entered into a definitive merger agreement to combine the companies in an all-stock transaction (the “Agreement”). The Agreement follows the strategic review initiated by Nordic Nanovector in conjunction with Carnegie in August 2022.
 
The transaction is structured as an acquisition of shares in APIM by Nordic Nanovector, with an equity valuation of APIM at NOK 439 million plus any net cash raised prior to completion of the transaction. Through the exercise of existing warrants held by current APIM shareholders, a minimum of NOK 55 million is contemplated to be raised prior to completion of the transaction. Assuming Nordic Nanovector acquires 100% of the shares in APIM and NOK 55 million of warrants are exercised a total of 372,126,641 new shares in Nordic Nanovector will be issued to APIM shareholders corresponding to a price per Nordic Nanovector share of NOK 1.32769 and a market cap of NOK 154 million (based on a 10-days VWAP of the traded share price in the period prior to and including 28 October 2022).
 
Carnegie Investment Bank congratulates all parties involved with a successful transaction and is proud to act as Financial Advisor to Nordic Nanovector in the merger.