Prenumeration
Beskrivning
Land | Sverige |
---|---|
Lista | First North Stockholm |
Sektor | Hälsovård |
Industri | Bioteknik |
THIS PRESS RELEASE MAY NOT BE PUBLISHED, RELEASED, OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN OR TO AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SOUTH AFRICA, SWITZERLAND, SINGAPORE, UNITED KINGDOM, THE UNITED STATES, OR ANY OTHER JURISDICTION WHERE SUCH ACTION IS SUBJECT TO LEGAL RESTRICTIONS. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER TO ACQUIRE SECURITIES IN MODUS THERAPEUTICS HOLDING AB. SEE ALSO THE SECTION "IMPORTANT INFORMATION" BELOW.
Modus Therapeutics Holding AB (publ) (“Modus” or the “Company”) has concluded its new share issue with pre-emptive rights for the Company’s shareholders that was announced on November 8, 2023 (the “Rights Issue”). The Rights Issue was covered by subscription commitments of approximately 43.8 percent. In total, 9,682,280 shares were subscribed for, corresponding to approximately 48.1 percent of the Rights Issue, of which approximately 47.8 percent of the shares were subscribed for with the support of subscription rights, and approximately 0.3 percent without the support of subscription rights. Those who have been allocated shares without the support of subscription rights will soon be notified through a settlement note or via their custodian.
The subscription price in the Rights Issue was SEK 2.00 per share. Modus will thus receive approximately MSEK 19.4 before issue costs through the Rights Issue, primarily financing general working capital, a clinical phase IIa study in anemia of chronic kidney disease, preparation for other clinical activities, as well as the storage of sevuparin and its distribution to the malaria study.
"We are very happy about the outcome, which reinforces the already great commitment and trust that our long-term investor Karolinska Development shows, both with the new investment of SEK 15 million, and through the conversion of another approximately SEK 20 million corresponding to our previous bridging loans. In addition, we are very grateful to the additional investors who chose to join this issue, which overall enables us to move forward debt-free with an adapted clinical development plan in anemia and chronic kidney disease, our latest addition to the pipeline.”, comments John Öhd, CEO.
Shares and Share Capital
Through the Rights Issue, Modus’ share capital will increase by SEK 580,936.80, through the issue of 9,682,280 shares, amounting thereafter to SEK 2,156,333.94 distributed over 35,938,899 shares.
Trading with Paid Subscribed Shares
Paid subscribed shares (BTA) are traded on the Nasdaq First North Growth Market under the ticker name MODTX BTA until the Rights Issue has been registered with the Swedish Companies Registration Office, which is expected to occur in week 50, 2023.
Allocation
Notifications of allocation of shares subscribed for without the support of subscription rights will shortly be sent to those who have been allocated shares via a settlement note. Nominee registered shareholders will receive notification of allocation in accordance with their respective nominee's routines. The allocation of shares subscribed for without the support of subscription rights was conducted according to the principles outlined in the prospectus published on November 14, 2023.
Advisors
Penser By Carnegie, Carnegie Investment Bank AB (publ) is the financial advisor to Modus in connection with the Rights Issue, and Advokatfirman Vinge KB is the legal advisor.