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ARTICLE | Financial News

Orexo raising private placement

August 29, 2014 1:18 AM UTC

Orexo AB (SSE:ORX; OTCQX:ORXOY) is raising an undisclosed amount in a private placement with Swedish and international institutional and strategic investors. Danske Bank is the sole lead manager and bookrunner.

Orexo said the placement will include 1.1 million treasury shares, which alone would raise about SEK160.6 million ($23.4 million) based on the company's Thursday close of SEK143.25, before the offering was announced. The pricing and number of shares to be issued are expected to be determined before trading on Friday. Orexo's Zubsolv buprenorphine/naloxone, a sublingual tablet formulation of buprenorphine and naloxone, is marketed in the U.S. to treat opioid dependence. ...