Cereno Scientific requests first convertible loan from European High Growth Opportunities Securitization Fund (corrected version)

(In an earlier version of this press release, the number of warrants issued and exercise price were not included. The number of warrants issued is 193 298 and the exercise price is SEK 7.76 per share.)

The board of directors of Cereno Scientific AB (publ) (“Cereno”) has requested the issuance of the first tranche of convertible bonds with warrants attached, amounting to SEK 5,000,000, to European High Growth Opportunities Securitization Fund, in accordance with the financing solution announced by Cereno through a press release on 19 March 2018.

Convertible Instruments

The board has resolved, based on the general meeting’s authorization, to request the issuance of the first tranche of convertible loan amounting to SEK 5 million by issuing convertible instruments. The convertible instruments can be converted into class B shares of Cereno. European High Growth Opportunities Securitization Fund has the sole right to subscribe for the convertible instruments by cash payment. The convertible instruments are issued at a subscription price equal to one hundred percent of their aggregate nominal value.

The convertible bonds carry no interest and have a maturity of 12 months as from their registration with the Swedish Companies Registration Office, if not converted prior to that date. The conversion price per new share shall correspond to 93 per cent of the lowest daily VWAP according to AktieTorget’s market official price list, as applicable, for the class B shares in Cereno during the fifteen (15) trading days preceding the conversion date.

Warrants

The board has further resolved, based on the general meeting’s authorization and with deviation from the shareholders’ pre-emptive rights, to issue 193 298 warrants attached to the convertible instruments. Each warrant entitles European High Growth Opportunities Securitization Fund to subscribe for one new class B share in Cereno, during five years as from their date of registration with the Swedish Companies Registration Office, at an exercise price of SEK 7.76 per share. The warrants are issued free of charge. Upon full exercise of the warrants, Cereno will be provided with SEK 1.5 million, corresponding to 30 percent of the nominal amount of the convertible bond loan. The terms and conditions for the warrants include customary provisions on recalculation of the exercise price in connection with rights issues etc.

The board’s issue resolutions have been made based on the authorization from the annual shareholders’ meeting on 19 April 2018.

For more information, please contact:
Sten R. Sörensen – CEO
Tel: +46 73 374 03 74
E-mail sten.sorensen@cerenoscientific.com
www.cerenoscientific.com

About Cereno Scientific AB
Cereno Scientific is developing a novel preventive medicine to treat thrombosis-related disease, based on the body’s own intelligent clot-busting system. Cardiovascular disease is currently the leading cause of death worldwide. Current therapies are connected to an increased risk of bleeding and, as a result, low effectiveness due to lower dosing levels. In turn, this leads to a high risk of new blood clots. The benefit with Cereno Scientific’s drug candidate, CS1, is an improved balance between preventing thrombosis and treatment-related side effects – leading to more effective treatment. CS1 is a re-formulation of a known compound and, as such, is expected to have a relatively short development time. The Gothenburg-based company is located in AstraZeneca’s BioVentureHub and is supported by GU Ventures. Cereno Scientific’s B share has been listed on AktieTorget since June 2016 with the ticker CRNO B, ISIN SE0008241558.

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