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NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE ACTION OTHER THAN THAT REQUIRED BY SWEDISH LAW.
The major shareholder Nolsterby Invest AB, that is controlled by the board members Erik Hedlund and Anders Hedlund exercises, warrants of series TO3 in Pharmacolog i Uppsala AB ("Pharmacolog" or the "Company"). The exercise period for the warrants of series TO3 began on February 9, 2024, and runs up to and including February 23, 2024.
The holders of warrants have the right for each owned warrant of series TO3 to subscribe to one (1) new series B share in Pharmacolog to a price of SEK 0.054 per share. Erik Hedlund, chairman of the board, and Anders Hedlund, board member, exercise 9,929,620 warrants of series TO3 through Nolsterby Invest AB, corresponding to 9,929,620 new series B shares to a value of approximately SEK 0.54 million. Additionally, Erik Hedlund and Anders Hedlund, through Nolsterby Invest AB, intend to exercise up to 9,000,000 warrants of series TO3, however, only to such extent that Nolsterby Invest AB's share ownership does not exceed 29.9 per cent of the shares in the Company, corresponding to a subscription of up to 9,000,000 series B shares to an additional value of approximately SEK 0.49 million.
Advisors
Mangold Fondkommission AB is the financial advisor to Pharmacolog in connection with the exercise of the warrants. Eversheds Sutherland Advokatbyrå AB is the legal advisor to the Company in connection with the exercise of the warrants.