Spago Nanomedical announces outcome of the exercise of warrants series TO12
Kurs & Likviditet
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
Spago Nanomedical AB (publ) (“Spago Nanomedical” or the “Company”) today announces the outcome of the exercise period for the warrants of series TO12 (the “Warrants”), issued in connection with a rights issue of units during the fourth quarter of 2023. The subscription rate was approximately 97.0 percent, resulting in the Company receiving approximately SEK 24.7 million before issuance costs. The proceeds from the exercise of Warrants are intended to be used to secure results from the phase I part of Tumorad-01, which may support decisions regarding the focus and commencement of the phase IIa part of the study, as well as to further strengthen the organization as the Company takes the next step in the development of the Tumorad program.
One (1) Warrant entitled the holder to subscribe for one (1) new share in the Company at a subscription price of SEK 0.20 per share. A total of 123,480,752 Warrants were exercised, corresponding to approximately 97.0 percent of all Warrants, for the subscription of a total of 123,480,752 shares. Through the Warrant exercise, the Company will receive approximately SEK 24.7 million before issuance costs.
"We are pleased with the confidence we have received from our shareholders. With the capital raised, we have the opportunity to accelerate the Tumorad program with the ongoing clinical phase I/II study Tumorad-01 in aggressive cancer. We now look forward to reporting initial data from the study after all three patients in the first group have completed their first treatment cycle and all available data have been evaluated by the study's Data Monitoring Committee", says CEO Mats Hansen.
Increase in number of shares and share capital
Through the Warrant exercise, the Company's share capital increases by SEK 12,348,075.20 through the issuance of 123,480,752 new shares, resulting in the total number of outstanding shares in the Company increasing from 224,715,454 to 348,196,206. For existing shareholders who did not exercise any Warrants, the dilution effect amounts to approximately 35.5 percent based on the number of shares in Spago Nanomedical after the exercise of the Warrants.
Delivery of subscribed shares
Subscribers of new shares through the exercise of Warrants will receive interim shares pending the registration of new shares with the Swedish Companies Registration Office. The conversion of interim shares to common shares is expected to occur around week 24, and the new common shares will thereafter be admitted to trading on Nasdaq First North Growth Market.