Calliditas Therapeutics (“Calliditas”) has concluded an initial public offering on The Nasdaq Global Select Market in the United States. The IPO involves a capital increase of 9,230,770 new common shares, consisting of a public offering of 8,306,770 common shares in the form of American Depositary Shares (“ADSs”), with each ADS representing two common shares (the “U.S. Offering”), and a concurrent private placement of 924,000 common shares to certain qualified investors in Europe and certain other jurisdictions outside of the United States (the “Private Placement”, and, together with the U.S. Offering, the “Global Offering”). The aggregate gross proceeds amount to USD 90 million, equivalent to approximately SEK 828.0 million, before deduction of underwriting commissions and estimated expenses payable by Calliditas. The Global Offering was upsized from USD 75 million which had previously been indicated by Calliditas. Trading of the ADSs on The Nasdaq Global Select Market commenced on June 5, 2020. 

Following the completion of the U.S. IPO of Calliditas, the company is together with Ericsson the second Swedish company listed on The Nasdaq Global Select Market in the United States. 

Calliditas is a specialty pharmaceutical company based in Stockholm, Sweden. It is focused on developing high quality pharmaceutical products for patients with a significant unmet medical need in niche indications, in which Calliditas can partially or completely participate in the commercialization efforts. Calliditas is focused on the development and commercialization of the product candidate Nefecon, a unique two step formulation optimized to combine a time lag effect with a concentrated release of the active substance budesonide, within a designated target area. Calliditas is listed on Nasdaq Stockholm and The Nasdaq Global Select Market in the United States.

Calliditas intends to use the net proceeds from the Global Offering, together with its existing cash resources, for the purposes of funding of its ongoing Phase 3 clinical trial and related trials of Nefecon, pre-commercialization and, if approved, commercialization activities for Nefecon and development of additional product candidates.

Citigroup Global Markets Inc., Jefferies LLC and Stifel, Nicolaus & Company, Incorporated are acting as the global coordinators and joint book-running managers of the Global Offering. Carnegie Investment Bank AB is acting as co-manager of the Global Offering. Citigroup Global Markets Inc. and Jefferies LLC are acting as representatives of the underwriters in the U.S. Offering. Citigroup Global Markets Limited and Jefferies International Limited are acting as representatives of the underwriters in the Private Placement. Baker McKenzie is acting as legal advisor to the underwriters with a team primarily consisting of Joakim Falkner, Henric Roth and Ian Gulam in Stockholm, and the Firm's regulatory specialists within life science / healthcare Els Janssens in Brussels and Veleka Peeples-Dyer in Washington. 
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