Santhera Pharmaceuticals Holding AG: Santhera Announces Corporate Update and Proposal to Strengthen Capital Structure
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Pivotal 6-month data readout for vamorolone in Duchenne muscular dystrophy (DMD) expected in the second quarter of 2021
Organization streamlined with a focus on cost savings and progressing vamorolone
Preliminary unaudited result for 2020: net sales CHF 15.0 million; net loss CHF 71.2 million; cash on hand as of December 31, 2020, CHF 12.4 million
Upsized financing from fund managed by Highbridge Capital Management, LLC (an existing investor in the Company), to satisfy liquidity needs through the next value-inflection point
Reverse Solicitation in Switzerland
Reverse solicitation designates the circumstances in which a
financial intermediary provides certain services to a client upon
the latter s request, without prior solicitation by the
financial intermediary. Where the financial intermediary can rely
on reverse solicitation, it generally avoids licensing requirements
and regulatory duties.
The concept is not specific to Swiss law. For instance, EU law
defines reverse solicitation in article 42 of MiFID II (EU
Directive3 2014/65 of 15 May 2014) as a situation where a client initiates at its own exclusive initiative the provision
of an investment service or activity by a financial intermediary.
According to the European Securities and Markets Authority (ESMA),
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On January 1 2020, the new Swiss Financial Services Act (FinSA)
and Financial Services Ordinance (FinSO) on November 6 2019,
implementing the provisions of the FinSA, have entered into force.
These laws are part of an entirely new regulatory framework
governing the Swiss financial markets.
While the majority of the rules entered into force immediately,
certain obligations were or still are subject to transition
periods. In particular, until December 1 2020, prospectuses could
still be established in accordance with the previous, arcane rules
of the Swiss Code of Obligations and, as far as SIX Swiss
WISeKey International Holding Ltd: WISeKey s Identity Technology and Semiconductors Provides Remote Identification (Remote ID) for New Drones Digital License Plates
Provides Remote Identification (Remote ID) for New Drones Digital License Plates
ZUG, Geneva, Switzerland - February 10, 2021 - WISeKey International Holding ( WISeKey , SIX: WIHN, NASDAQ: WKEY), a leading cybersecurity IoT, AI company, today announced that its advanced digital security solutions provide drones with remote IDs to comply with the new tracking and safety regulations put in place by the Federal Aviation Administration (FAA) in the U.S.
The FAA has finalized a new rule that requires remote identification (remote ID) for drones also known as digital license plates. This rule becomes effective on March 16, 2021 and applies to all drones weighing more than 0.55 pounds, so it includes recreational
Proposed fundraise of approximately US$60 million to fully-fund the construction of Stage 1 of the Sonora Lithium Project in Mexico Bacanora Lithium plc (AIM:BCN), a lithium development company, is pleased to announce a proposed issuance of new ordinary shares in the Company ( New Ordinary Shares ) at a price of 45p per New Ordinary Share (the Placing Price ) to raise gross proceeds of approximately US$60 million, comprising (i) a placing (the Placing ) of New Ordinary Shares to eligible institutional and professional investors (the Placing Shares ), (ii) concurrent private placements of New Ordinary Shares in certain other jurisdictions and (iii) the Retail Offer (as defined below) (together the Fundraising ).