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Beskrivning
| Land | Danmark |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
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INSIDE INFORMATION: Hørsholm, Denmark, 5 May 2022 - The Board of Directors of ExpreS2ion Biotech Holding AB (publ) ("ExpreS2ion" or the "Company") has completed the fully guaranteed new share issue of a maximum of 5,841,256 shares with preferential rights for the Company's existing shareholders (the "Rights Issue"). The subscription price in the Rights Issue was set at SEK 12.50. ExpreS2ion today announces the final outcome of the Rights Issue which shows that a total of 4,966,355 new shares have been subscribed for, corresponding to approximately 85 percent. The remaining 874,901 new shares, approximately 15.0 percent, have been subscribed for through guarantee undertakings. The Company will receive proceeds of approximately SEK 73 million before deduction of costs attributable to the Rights Issue.
The subscription period in the Rights Issue ran from 19 April to 3 May 2022. The final outcome of the Rights Issue shows that 2,730,549 shares were subscribed for by exercise of subscription rights, which corresponds to approximately 47 percent of the Rights Issue. In addition, the Company has received applications to subscribe for 2,235,806 shares without exercise of subscription rights, which corresponds to approximately 38 percent of the Rights Issue. Thus, a total of 4,966,355 shares have been subscribed for in the Rights Issue, which corresponds to approximately 85 percent. Additionally, 874,901 shares, corresponding to approximately 15 percent of the Rights Issue, have been subscribed for by guarantors.
Bent U. Frandsen, CEO in ExpreS[2]ion says:
"I am pleased that we can announce this outome of the rights issue, which means we have the planned proceeds for primarily progressing on our ES2B-C001 breast cancer vaccine candidate to complete the preclinical safety studies. With an approximately 85 percent subscription rate, we are very grateful towards our existing and new investors in this current market."
The Rights Issue was prior to commencing of the Rights Issue fully covered by subscription undertakings made by certain existing shareholders and guarantee commitments from existing shareholders and new investors. The Company will receive gross proceeds of approximately SEK 73 million from the Rights Issue. The expected net proceeds from the Rights Issue will be used as to advance the breast cancer vaccine candidate ES2B-C001 to completion of the preclinical safety studies, advance other pipeline development projects, including within Influenza and Malaria, and support the strategic CRO business and invest in core technologies and IP to strengthen competitive edge.
Notice of allotment
Those who have subscribed for shares without exercise of subscription rights will be allotted shares in accordance with the principles for allotment set out in the prospectus which has been prepared for purposes of the Rights Issue. Notice of potential allotment of shares subscribed for without exercise of subscription rights will be provided through the distribution of a settlement note. Payment shall be made no later than three (3) banking days following issuance of the settlement note. Those who have not been allotted shares will not receive any notification. If payment is not made at the right time, the shares may be transferred to another party. Those who subscribe for shares without preferential rights through its nominee will receive notice of allotment in accordance with the nominee's procedures.
Change of share capital and number of shares as well as dilution
Through the Rights Issue, the number of shares in ExpreS[2]ion will increase by a maximum of 5,841,256 shares, from 31,153,456 shares to 36,994,712 shares and the share capital will increase by a maximum of SEK 649,028, from SEK 3,461,495 to SEK 4,110,523. This means that existing shareholders who choose not to participate in the Rights Issue will, if fully subscribed, experience a dilution corresponding to approximately 15.8 percent of the total number of shares and votes in the Company following the Rights Issue.
Lock-up undertakings
In connection with the Rights Issue, all members of the Company's board of directors and senior management with shareholdings in ExpreS[2]ion have undertaken towards Vator Securities AB, subject to customary exceptions, not to sell or otherwise transfer their shares without first, in each separate case, ascertain a written approval from Vator Securities AB. The decision to leave such written approval is decided by Vator Securities AB and the decision is made in each separate case. Agreed approval can depend on both individual and business-related situations. The lock-up period lasts for a period of 90 days following this publication of the outcome of the Rights Issue.
Advisors
Vator Securities act as financial advisor and issuing agent to the Company in connection with the Rights Issue. Baker Mckenzie is the Company's legal advisor in connection with the Rights Issue.
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Telefon: +46 11 32 30 732
E-post: ca@skmg.se
This press release constitutes inside information that ExpreS2ion Biotech Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out above, at the time stated by the Company's news distributor, Cision, at the publication of this press release.