Active Biotech completes sale of property

Active Biotech AB (publ) has today completed the sale of the Company’s property Forskaren 1 in Lund.

As previously announced Active Biotech entered into an agreement on March 13, 2019 regarding sale of the Company’s property Forskaren 1 in Lund, Sweden, with a newly formed investor collective led by the real estate company Estea AB.

Active Biotech’s largest shareholder, MGA Holding AB, had, on the request of Estea, declared its willingness to participate with up to 40 percent of Estea’s equity financing. Hence, the sale was conditional on approval by the shareholders of Active Biotech. Such approval was given at the extraordinary general meeting held on April 4, 2019, where after the sale was completed today, April 5, 2019.

The purchase price amounts to SEK 275 million, which corresponds to the property’s book value. Together with the rights issue of approximately SEK 47 million that was completed in 2018, the proceeds from the sale of the property are expected to finance the Company’s operations under the current business plan. The property sale entails a capital injection of approximately SEK 70 million.

Read the press release here.