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København, Denmark, November 24, 2022 - At a board meeting today the board of directors in Cessatech A/S ("Cessatech" or the "Company") resolved on the issue of additional units ("Compensation Units") to guarantee underwriters in the Company's recent rights issue. A total of 56,875 Compensation Units each consisting of 6 new shares and 3 warrants of series TO2 will be issued to certain investors in respect of their underwriting commitments. Cessatech's nominal share capital following the issue will increase to DKK 2,757,751 equal to 13,788,755 issued shares of DKK 0.2 each.
As described in Cessatech's offering memorandum published on October 20, 2022 in connection with the rights issue, the Company entered binding underwriting commitments with a number of investors totalling approx. DKK 13.4 million. As compensation each underwriter were offered a choice of 12% of the underwritten amount in cash or 15% in Compensation Units. The Compensation Units carry the same terms as the units in the rights issue. A number of underwriters decided to receive Compensation Units. Today the board of directors therefore resolved, based on the authorisation granted at the extraordinary general meeting held on November 4, 2022, to increase the Company's share capital with an additional 341,250 shares (corresponding to nominally DKK 68,250) and to issue 170,625 warrants of series TO2, in total corresponding to 56,875 Compensation Units consisting of 6 shares and 3 warrants of series TO2 each. Once the new issue has been registered with the Danish Business Authority (Dk: "Erhvervsstyrelsen") Cessatech's share capital will increase from nominally DKK 2,689,501 corresponding to 13,447,505 shares to nominally be DKK 2,757,751. corresponding to 13,788,755 shares.