Bifogade filer
Kurs & Likviditet
Beskrivning
Land | Danmark |
---|---|
Lista | First North Stockholm |
Sektor | Hälsovård |
Industri | Bioteknik |
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Hørsholm, Denmark, September 22, 2021 - ExpreS2ion Biotech Holding AB ("ExpreS2ion" or the "Company") today announces the outcome of the exercise of warrants of series TO5, which were issued in connection with the Company's rights issue of units in 2020. In total, 5,310,795 warrants of series TO5 were exercised, corresponding to approximately 97.4 percent of the total number of outstanding warrants of series TO5, for subscription of 1,770,265 shares at an exercise price of SEK 25.00 per share. ExpreS2ion will receive approximately SEK 44.3 million before issuing costs through the exercise of the warrants of TO5.
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 TO5 was set to SEK 25.00. In April 2021, the warrants of series TO4 were subscribed to 97.6% and ExpreS[2]ion received approximately SEK 39.0 million in gross proceeds.
Outcome
In total, 5,310,795 warrants of series TO5 were exercised for subscription of 1,770,265 shares, meaning that approximately 97.4 percent of all outstanding warrants of series TO5 were exercised for subscription of shares and ExpreS[2]ion receives approximately SEK 44.3 million in gross proceeds.
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 TO5, the number of shares in ExpreS[2]ion increases by 1,770,265 shares, from 29,383,191 shares to a total of 31,153,456 shares. The share capital will increase by SEK 196,696.12, from SEK 3,264,799.05922 to SEK 3,461,495.125922.
For existing shareholders who did not exercise any warrants of series TO5, the dilution amounts to approximately 5.7 percent based on the number of shares following exercise of the warrants of series TO5.
CEO Bent Frandsen's comments:
"I am extremely pleased by the outcome of the TO5 warrant subscription process: a subscription level of 97.4%. Like with the TO4 warrant subscription it is an affirmation of our strategy and a testament to the investors' interest in taking part in ExpreS[2]ion's future growth. With the additional SEK 44.3 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 leading player within infectious diseases and cancer."
Advisors
Arctic Securities AS, filial Sverige is the financial advisor and issuing agent to the Company regarding 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.