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Beskrivning
| Land | Danmark |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
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Hørsholm, Denmark, April 28, 2021 - ExpreS2ion Biotech Holding AB ("ExpreS2ion" or the "Company") today announces the outcome of the exercise of warrants of series TO4, which were issued in connection with the Company's rights issue of units in 2020. In total, 5,324,670 warrants of series TO4 were exercised, corresponding to approximately 97.6 percent of the total number of outstanding warrants of series TO4, for subscription of 1,774,890 shares at an exercise price of SEK 22.00 per share. ExpreS2ion will receive approximately SEK 39.0 million before issuing costs through the exercise of the warrants of TO4.
Background
ExpreS[2]ion completed a rights issue of units in 2020. Each unit consisted of two (2) new shares, one (1) warrant free of charge of series TO4 and one (1) warrant free of charge of series TO5. The exercise price per share for the warrants of series TO4 was set to SEK 22.00.
In total, 5,324,670 warrants of series TO4 were exercised for subscription of 1,774,890 shares, meaning that approximately 97.6 percent of all outstanding warrants of series TO4 were exercised for subscription of shares.
Exercised warrants have been replaced with interim shares (IA), pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted to shares within approximately 3 weeks.
Number of shares, share capital and dilution
Through the exercise of the warrants of series TO4, the number of shares in ExpreS[2]ion increases by 1,774,890 shares, from 27,608,301 shares to a total of 29,383,191 shares. The share capital will increase by SEK 197,210.00, from SEK 3,067,589.01 to SEK 3,264,799.01.
For existing shareholders who did not exercise any warrants of series TO4, the dilution amounts to approximately 6.0 percent based on the number of shares following exercise of the warrants of series TO4.
CEO Bent Frandsen's comments:
"I am extremely pleased by the outcome of the T04 warrant subscription process: a subscription level of 97.6%. It is an affirmation of our strategy and a testament to the investors' interest in continuing to be a part of the ExpreS[2]ion growth story, as well as the increase in our stock price. With the additional SEK 39.0 million before transaction costs, we will be able to make significant progress in our development pipeline as outlined in the prospectus for the rights issue transaction. I would like to thank our investors for their continued support and assure them that we will continue to work hard to become a leader in the immunotherapy and infectious disease field."
Advisors
Arctic Securities AS, filial Sverige is the financial advisor and issuing agent to the Company in connection with the warrants.
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 below, at the time stated by the Company's news distributor, Cision, at the publication of this press release.