Bifogade filer
Prenumeration
Beskrivning
Land | Sverige |
---|---|
Lista | First North Stockholm |
Sektor | Hälsovård |
Industri | Bioteknik |
Modus Therapeutics Holding AB (“Modus” or the “Company”) announces the outcome of the Company’s rights issue of units that was announced on 26 June 2025 (the “Rights Issue”). In the Rights Issue, 8,814,693 units, corresponding to approximately 98.1 percent of the Rights Issue, were subscribed for with the support of unit rights. In addition, 8,165,328 units, corresponding to approximately 90.9 percent of the Rights Issue, were subscribed for without the support of unit rights. In total, the subscription rate amounts to 189 percent and, consequently, no guarantee commitments will be utilized. The Company is thus provided with approximately SEK 28.3 million.
The net proceeds of approximately SEK 24.4 million, of which approximately SEK 5 million refers to set-off against outstanding loans from Modus’ largest shareholder Karolinska Development, and after transaction costs of approximately SEK 3.9 million, will primarily be used to finance clinical activities, including the ongoing phase II study. The issue proceeds, including any proceeds from the exercise of warrants of series TO 2026, are expected to finance the business until the end of 2026.
Subscription and allotment
In the Rights Issue, 8,814,693 units, corresponding to approximately 98.1 percent of the Rights Issue, were subscribed for with the support of unit rights. In addition, 8,165,328 units, corresponding to approximately 90.9 percent of the Rights Issue, were subscribed for without the support of unit rights. In total, 16,980,021 units were subscribed for, corresponding to approximately SEK 53.5 million or 189 percent of the Rights Issue. Consequently, no guarantee commitments will be utilized. The Rights Issue will provide the Company with approximately SEK 28.3 million, of which approximately SEK 5 million refers to set-off against outstanding loans from Karolinska Development, before deduction of transaction costs of approximately SEK 3.9 million.
Allotment of units has been made in accordance with the principles set out in the prospectus published by the Company on 11 August 2025. Contract notes are expected to be sent out tomorrow, 27 August 2025, to those who have been allotted units without the support of unit rights. Allotted units subscribed for without the support of unit rights must be paid for in accordance with the instructions on the contract note.
Warrants
In the Rights Issue, a total of 8,984,724 units were offered, each consisting of nine (9) shares, three (3) warrants of series TO 2026, and four (4) warrants of series TO 2030. The warrants are issued free of charge and are intended to be admitted to trading on Nasdaq First North Growth Market.
Upon full exercise of the warrants of series TO 2026, the Company will be provided with proceeds of approximately SEK 9.4 million, and upon full exercise of the warrants of series TO 2030, the Company will be provided with additional proceeds of approximately SEK 14.4 million.
Shares and dilution
Through the Rights Issue, the share capital increases by SEK 4,851,750.96, from SEK 2,156,333.94 to SEK 7,008,084.90, and the number of shares increases by 80,862,516 shares, from 35,938,899 shares to 116,801,415 shares. For existing shareholders who did not participate in the Rights Issue, this corresponds to a dilution of approximately 69.2 percent.
Upon full exercise of the warrants of series TO 2026, the share capital will increase by an additional SEK 1,617,250.32 and the number of shares will increase by up to 26,954,172 shares, corresponding to a dilution of 18.7 percent.
Upon full exercise of the warrants of series TO 2030, the share capital will increase by an additional SEK 2,156,333.76 and the number of shares will increase by up to 35,938,896 shares, corresponding to a dilution of 20.0 percent.
Trading in BTU
Trading in paid subscribed units (BTU) will continue on Nasdaq First North Growth Market until the Rights Issue has been registered with the Swedish Companies Registration Office (Sv. Bolagsverket), which is expected to take place at the beginning of September 2025.
Advisors
Bergs Securities is acting as sole manager and bookrunner and Advokatfirman Vinge is legal advisor to Modus in connection with the Rights Issue.