SynAct received a conversion notice from an entity managed by Heights Capital Management, Inc (HCM) based on the warrant terms and conditions from the agreement communicated 10 October 2023. HCM has now decided to execute 1,000,000 warrants generating proceeds of SEK 17.7 million to SynAct.

The total number of warrants part of the agreement in October 2023 was 3,375,000 with expiration date 13 October 2025. The conversion price initially was 17.75 and after recalculation, because of the preferential share issue earlier, the new conversion price is 17.6773. Each warrant entitles to subscription of 1,0041 share. The number of outstanding warrants after the previous conversion in July and this second conversion amounts to 1,375,000.

“These proceeds further strengthen our financial situation, extending runway and allow us to continue executing on the development opportunities we identify while also bolstering our position when talking to potential business and development partners,” said CEO Jeppe Øvlesen.

The number of shares in the Company after the conversion of warrants amounts to 53,330,245 and the share capital amounts to SEK 6,666,280.375.

For further information, please contact:
Jeppe Øvlesen
CEO, SynAct Pharma AB Phone: + 45 2844 7567
E-mail: investor.relations@synactpharma.com

About SynAct Pharma AB
SynAct Pharma AB (Nasdaq Stockholm: SYNACT) is a clinical stage biotechnology company focused on the resolution of inflammation through the selective activation of the melanocortin system. The company has a broad portfolio of oral and injectable selective melanocortin agonists aimed at inducing anti-inflammatory and inflammation resolution activity to help patients achieve immune balance and overcome their inflammation. For more information: https://synactpharma.com/.