Söndag 20 April | 20:13:35 Europe / Stockholm

Prenumeration

Kalender

Est. tid*
2026-02-12 16:30 Bokslutskommuniké 2025
2025-07-23 16:30 Kvartalsrapport 2025-Q2
2025-05-23 N/A X-dag ordinarie utdelning PROGEN 0.00 SEK
2025-05-22 N/A Årsstämma
2025-02-13 - Bokslutskommuniké 2024
2024-10-31 - Split PROGEN 1000:1
2024-10-22 - Extra Bolagsstämma 2024
2024-08-22 - Kvartalsrapport 2024-Q2
2024-05-24 - X-dag ordinarie utdelning PROGEN 0.00 SEK
2024-05-23 - Årsstämma
2024-02-15 - Bokslutskommuniké 2023
2023-12-07 - Extra Bolagsstämma 2023
2023-08-17 - Kvartalsrapport 2023-Q2
2023-06-02 - X-dag ordinarie utdelning PROGEN 0.00 SEK
2023-06-01 - Årsstämma
2023-04-21 - Extra Bolagsstämma 2022
2023-02-16 - Bokslutskommuniké 2022
2022-11-10 - 15-10 2022-Q3
2022-08-18 - Kvartalsrapport 2022-Q2
2022-06-03 - X-dag ordinarie utdelning PROGEN 0.00 SEK
2022-06-02 - Årsstämma
2022-05-12 - Kvartalsrapport 2022-Q1
2022-02-24 - Bokslutskommuniké 2021
2021-11-18 - Kvartalsrapport 2021-Q3
2021-08-18 - Kvartalsrapport 2021-Q2
2021-06-17 - X-dag ordinarie utdelning PROGEN 0.00 SEK
2021-06-16 - Årsstämma
2021-05-27 - Kvartalsrapport 2021-Q1
2021-02-19 - Bokslutskommuniké 2020

Beskrivning

LandSverige
ListaFirst North Stockholm
SektorHälsovård
IndustriMedicinteknik
Prostatype Genomics är verksamt inom medicinteknik. Bolaget är specialiserat inom utveckling av medicintekniska gentester som används för identifiering, analys och vidare uppföljning av prostatacancer. Utöver huvudverksamheten erbjuds även service och tillhörande kringtjänster. Verksamheten drivs globalt med störst närvaro inom den nordiska marknaden.
2025-04-15 08:00:00

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, JAPAN, CANADA, NEW ZEALAND, SOUTH AFRICA, HONG KONG, SWITZERLAND, SINGAPORE, SOUTH KOREA, RUSSIA, BELARUS OR IN ANY OTHER JURISDICTION WHERE THE RELEASE, DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR REQUIRE ADDITIONAL REGISTRATION OR OTHER MEASURES BEYOND THOSE REQUIRED BY SWEDISH LAW. PLEASE SEE "IMPORTANT INFORMATION" AT THE END OF THIS PRESS RELEASE.

The Board of Directors of Prostatype Genomics AB ("Prostatype Genomics" or the "Company") has today, subject to approval by the annual general meeting to be held on 15 May 2025, resolved on a rights issue of units with preferential rights for the Company’s existing shareholders of initially approximately SEK 27.3 million (the "Rights Issue"). The purpose of the Rights Issue is to fund completion of the US validation study and Medicare approval process as well as to fund ongoing commercialization activities in the US and Europe. The Rights Issue is secured in writing to approximately 70 percent through pre-subscription and underwriting commitments. To secure the Company’s financing need until the completion of the Rights Issue, the Company has secured a bridge loan amounting to SEK 5 million.

Summary

  • The Board of Directors of Prostatype Genomics has today, subject to approval from the annual general meeting to be held on 15 May 2025, resolved on the Rights Issue. Notice to the annual general meeting will be published via a separate press release.
  • The Rights Issue comprises a maximum of 6,835,213 units, corresponding to 27,340,852 shares and 20,505,639 warrants of series TO5 (“TO5 Warrants”). Prostatype Genomics’ existing shareholders have preferential right to subscribe for units in proportion to their existing shareholdings.
  • If the Right Issue is fully subscribed, the Company may initially receive approximately SEK 27.3 million (before deduction of issue related costs). Through the TO5 Warrants, the Company may receive an additional amount of maximum approximately SEK 30.8 million (before deduction of issue related costs). The capitalization in full is intended to fund the Company's operations until at least Q3 2026.
  • In order to meet the interest for participating in the Rights Issue and thereby further strengthening the Company’s financial position, the Board of Directors intends to propose that the annual general meeting authorizes the Board to issue additional units through so-called over-allotment in the event of oversubscription of the Rights Issue.
  • The Rights Issue is dependent on the annual general meeting resolving to increase the limits for share capital and shares in the Company’s articles of associations.
  • The Rights Issue is secured in writing to approximately 70 percent through pre-subscription and underwriting commitments, as set out below:
    • Members of the Board, as well as other existing shareholders, have provided pre-subscription commitments of a total amount of approximately SEK 3.4 million, corresponding to approximately 12.6 percent of the Rights Issue.
    • A large shareholder has, in addition to a pro-rata pre-subscription commitment, provided a compensation-free top-down underwriting commitment (from 100 percent down) of approximately SEK 4 million, corresponding to approximately 14.5 percent of the Rights Issue.
    • Exelity AB, Buntel AB and Oliver Molse have provided bottom underwriting commitments totalling approximately SEK 11.7 million, corresponding to approximately 42.9 percent of the Rights Issue and stemming from the pre-subscribed level of 12.6 percent, up to approximately 55.5 percent of the Rights Issue.
  • One (1) existing share in the Company on the record date 19 May 2025 entitles to one (1) unit right. One (1) unit right entitles the holder to subscribe for one (1) unit. One (1) unit consists of four (4) shares and three (3) TO5 Warrants.
  • Last day of trading in Prostatype Genomics’ shares, including the right to receive unit rights is the 15 May 2025.
  • The subscription price in the Rights Issue is set to SEK 4.00 per unit, corresponding to SEK 1.00 per share. The TO5 Warrants are issued free of charge.
  • The subscription period in the Rights Issue takes place from and including 21 May 2025 until and including 4 June 2025.
  • To secure the Company’s financing needs until the completion of the Rights Issue, the Company has secured a bridge loan from Exelity AB, Buntel AB and Oliver Molse amounting to SEK 5 million.
  • A prospectus containing complete terms and conditions for the Rights Issue will be made available no later than the day before the start of the subscription period.

Motive and use of proceeds
In order to more vigorously commercialize and market Prostatype Genomics' Prostatype® gene test in the US, the Company is awaiting Medicare approval. Since the Company's application was submitted in September 2024, the Company has submitted supplementary answers within the framework of the application process. The timing of the approval is difficult for the Company to estimate given the relation to processes with regulatory authorities in the US. The Company is working with Swedish and American lawyers in the matter and considers it reasonable to assume that approval should be obtained during 2025. With Medicare approval in hand, the Board's assessment is that Prostatype Genomics will be well positioned to commercialize its prognostic genomic test kit in the US.

The Board has concluded that the Company’s existing working capital is not sufficient for the Company's needs for 12 months forward. In order to finance the aforementioned corporate development, Prostatype Genomics is carrying out the Rights Issue. With the funds from the Rights Issue, the Company intends to finance the activities listed below:

  • Completion of US validation study and Medicare approval process
  • Ongoing commercialization activities in the US and Europe, as well as strengthening of working capital and ongoing operational activities
  • Repayment of bridge loan and interest

Terms for the Rights Issue
The Board has today, subject to approval by the annual general meeting, resolved on the Rights Issue, which comprises a maximum of 6,835,213 units, corresponding to 27,340,852 new shares and 20,505,639 TO5 Warrants. Prostatype Genomics’ existing shareholders have preferential right to subscribe for units in proportion to their existing shareholdings. The general public also has the right to subscribe for units in the Rights Issue.

One (1) existing share in the Company on the record date 19 May 2025 entitles to one (1) unit right. One (1) unit right entitles the holder to subscribe for one (1) unit. One (1) unit consists of four (4) shares and three (3) TO5 Warrants. The subscription price in the Rights Issue has been set to SEK 4.00 per unit, which corresponds to SEK 1.00 per new share. The TO5 Warrants are issued free of charge.

Subscription of units must take place during the subscription period that runs from and including 21 May 2025 until and including 4 June 2025. Unit rights that are not exercised during the subscription period become invalid. Trading in unit rights is expected to take place on First North Growth Market from and including 21 May 2025, until and including 30 May 2025. Trading in BTU (Paid Subscribed Unit) is expected to take place during the period from and including 21 May 2025 until after the Rights Issue is registered with the Swedish Companies Registration Office (expected mid-June 2025).

The Rights Issue will, if fully subscribed, initially increase the share capital by SEK 2,734,085.20, from SEK 683,521.30 to SEK 3,417,606.50 and the total number of shares will increase by 27,340,852 shares, from 6,835,213 shares to 34,176,065 shares. Existing shareholders who do not participate in the Rights Issue will be affected by a dilution effect of approximately 80 percent of the votes and capital, calculated on the number of shares in the Company after the Rights Issue. Shareholders who do not participate in the Rights Issue can partially compensate themselves for the financial dilution effect by selling their unit rights no later than 30 May 2025.

If all TO5 Warrants are issued and exercised, the share capital will increase by another SEK 2,050,563.90, to a total of SEK 5,468,170.40, and the number of shares will increase by another 20,505,639 to a total of 54,681,704 shares. This corresponds to a dilution effect from TO5 Warrants of approximately 38 percent.

Over-allotment
In order to meet the interest for participating in the Rights Issue and thereby further strengthening the Company’s financial position, the Board of Directors intends to propose that the annual general meeting authorizes the Board to issue additional units through so-called over-allotment in the event of oversubscription of the Rights Issue. The intention is to limit such an authorization to approximately 15 percent of the total amount of units in the Rights Issue and that an issue in accordance with the authorization shall be made on corresponding terms as the Rights Issue.

Pre-subscription and underwriting commitments
The Rights Issue has been secured in writing to approximately 70 percent by members of the Board, other existing shareholders as well as by external underwriters through pre-subscription and underwriting commitments. The pre-subscription commitments amounts to approximately SEK 3.4 million, which corresponds to approximately 12.6 percent of the Rights Issue. The underwriting commitments are divided into a top-down underwriting (from 100 percent down) from a large shareholder, amounting to approximately SEK 4 million, corresponding to approximately 14.5 percent of the Rights Issue, and a bottom underwriting tranche from Exelity AB, Buntel AB and Oliver Molse totalling approximately SEK 11.7 million, corresponding to approximately 42.9 percent of the Rights Issue and stemming from the pre-subscribed level of 12.6 percent up to 55.5 percent.

For the bottom underwriting commitment, an underwriting fee of 16 percent in cash or 20 percent in the form of units, which are issued on the same terms as the Rights Issue, is paid. For the top-down underwriting commitment, no underwriting fee is paid. No compensation is paid for the pre-subscription commitments.

The pre-subscription and underwriting commitments are not secured by bank guarantee, blocking funds, pledging or similar arrangements.

Warrants of series TO5
One (1) unit in the Rights Issue consists of four (4) shares and three (3) TO5 Warrants. The TO5 Warrants are issued free of charge. One (1) TO5 Warrant entitles the holder to subscribe for one (1) new share. The exercise price for the TO5 Warrants will be set within an interval between SEK 0.10 and SEK 1.50 and will be set with a 30 percent discount of the 20-day volume weighted average price prior to the second day before the exercise period. TO5 Warrants can be exercised to subscribe for new shares in Prostatype Genomics during the period from and including 3 September 2025 until and including 17 September 2025. The TO5 Warrants are planned to be subject to trading on Nasdaq First North Growth Market. The last day of trading in the TO5 Warrants is planned to be 15 September 2025.

Full terms and conditions for the TO5 Warrants will be made available on the Company’s website.

Bridge loan
In order to secure the Company’s capital needs until the Rights Issue has been completed, the Company has secured a bridge loan of SEK 5 million from Exelity AB, Buntel AB and Oliver Molse. The loan carries a compounded interest of 1.5 percent per started 30-day period, in addition to a commitment fee of 5 percent of the nominal amount including the commitment fee.

Annual general meeting
The annual general meeting to approve the Board’s resolution on the Rights Issue is planned to be held on 15 May 2025. The Rights Issue’s completion is also dependent on the annual general meeting resolving to increase the limits for share capital and shares in the articles of associations. Notice for the annual general meeting will be published via a separate press release.

Indicative timeline for the Rights Issue

  • Annual general meeting to approve the Rights Issue: 15 May 2025.
  • Approval of prospectus: 15 May 2025.
  • Last day of trading in Prostatype Genomics’ shares, including the right to receive unit rights: 15 May 2025.
  • First day of trading in Prostatype Genomics’ shares, excluding the right to receive unit rights: 16 May 2025.
  • Record date for participation in the Rights Issue: 19 May 2025.
  • Subscription period: 21 May-4 June 2025.
  • Trading in unit rights: 21-30 May 2025.
  • Trading in BTU: from 21 May 2025 until after the Rights Issue has been registered with the Swedish Companies Registration Office. The last day of trading in BTU will be announced through a separate press release after the Rights Issue has been completed.
  • Press release on the outcome of the Rights Issue: around 5 June 2025.
  • First day of trading in TO5 Warrants: around 30 June 2025.
  • Last day of trading in TO5 Warrants: 15 September 2025.
  • Exercise period for TO5 Warrants: 3-17 September 2025.

Prospectus
A prospectus containing full terms and conditions for the Rights Issue will be published via a separate press release no later than the day before the subscription period begins and will be available on the Company's website (www.prostatypegenomics.com).

Information to investors under the Screening of Foreign Direct Investment Act (2023:560)
As the Company conducts activities worthy of protection in accordance with the Screening of Foreign Direct Investment Act (2023:560), certain investments in the Rights Issue may require examination by the Inspectorate for Strategic Products. For more information, please visit the Swedish Inspectorate for Strategic Products' website, www.isp.se or contact the Company.

Advisors
Navia Corporate Finance AB and Gemstone Capital ApS are financial advisors and Bookrunners in connection with the Rights Issue. Advokatfirman Lindahl is the legal advisor. Nordic Issuing AB is the issuing agent.

For more information about the Rights Issue, please contact:
Navia Corporate Finance AB
E-mail: info@naviacf.se
Website: www.naviacorporatefinance.com

or

Gemstone Capital ApS
E-mail: info@gemstonecapital.com
Website: www.gemstonecapital.com

For more information about the Company, please contact:
Fredrik Rickman, CEO Prostatype Genomics AB
Telephone: +46 (0)73 049 77 01
E-mail: fredrik.rickman@prostatypegenomics.com

Certified Adviser
Carnegie Investment Bank AB (publ)
Telephone: +46 (0)73 856 42 65
E-mail: certifiedadviser@carnegie.se

About Prostatype Genomics
Prostatype® is a genomic test that is available to patients and treating urologists as a complementary decision basis for the question of treatment or no-treatment of prostate cancer. The test was developed by a leading research group at Karolinska Institute and is provided by Prostatype Genomics AB. The Company’s Certified Adviser is Carnegie Investment Bank AB.

Important information
The information in this press release neither contains nor constitutes an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Prostatype Genomics. No action has been taken, and no action will be taken to permit an offer to the public in any jurisdictions other than Sweden. The invitation to interested persons to subscribe for shares in Prostatype Genomics takes place solely through the prospectus that Prostatype Genomics intends to publish around 15 May 2025.

The information contained in this press release may not be disclosed, published or distributed, directly or indirectly, within or to the United States, Belarus, Russia, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or any other jurisdiction where such action would be illegal, subject to legal restrictions or require measures other than those that follow from Swedish law. Actions contrary to this instruction may constitute a violation of applicable securities legislation. No shares or other securities of Prostatype Genomics have been registered, and no shares or other securities will be registered, under the United States Securities Act of 1933 from time to time ("Securities Act") or the securities laws of any state or other jurisdiction of the United States and may not be offered, sold or otherwise transferred, directly or indirectly, in or to the United States, except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and pursuant to the securities laws of the relevant state or other jurisdiction in the United States. This communication is distributed to and directed solely to persons in the United Kingdom who are (i) professional investors falling within the scope of Article 19(5) of the U.K. from time to time in force; Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 ("the Order") or (ii) high net worth subjects and other persons to whom this notice may lawfully be addressed, who are subject to Article 49(2)(a)-(d) ) in the Order (all such persons are collectively referred to as "Relevant Persons"). Persons who are not Relevant Persons may not act on or rely on the information in this communication. An investment or investment measure referred to in this communication is only possible for Relevant Persons and will only be completed with Relevant Persons. Persons who disseminate this communication must themselves ensure that such dissemination is permitted.

Forward-looking Statements
This press release contains forward-looking statements that refer to the Company's intentions, assessments or expectations regarding the Company's future results, financial position, liquidity, development, prospects, expected growth, strategies and opportunities as well as the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and can be identified by the inclusion of expressions such as "believes", "expects", "anticipates", "intends", "estimates", "will", "may", "assumes", “should" "could" and, in each case, negations thereof, or similar expressions. The forward-looking statements in this press release are based on various assumptions, which in several cases are based on additional assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will occur or that they are accurate. As these
assumptions are based on assumptions or estimates and are subject to risks and uncertainties, the actual result or outcome may, for many different reasons, differ materially from what appears in the forward-looking statements.

Such risks, uncertainties, contingencies and other material factors may cause actual events to differ materially from the expectations expressed or implied in this press release through the forward-looking statements. The Company does not warrant that the assumptions underlying the forward-looking statements in this press release are correct and any reader of the press release should not place undue reliance on the forward-looking statements in this press release. The information, opinions and forward-looking statements expressed or implied herein are provided only as of the date of this press release and are subject to change. Neither the Company nor anyone else undertakes to revise, update, confirm or publicly announce any revision of any forward-looking statement to reflect events occurring or circumstances occurring with respect to the contents of this press release, except as required by law or Nasdaq First North Growth Markets' regulations for issuers.