Cereno Scientific announces block trade of warrants and receives subscription commitments
Cereno Scientific (XSAT: CRNO B) (“Cereno” or the “Company) today announced that it has been brought to the Company’s attention that a block trade has been executed, where GU Ventures as well as members of the Company’s Board of Directors and management have sold warrants of series TO2 to two unnamed buyers. In connection with the transaction subscription commitments for the exercise of warrants of series TO2 have been undertaken by the buyers. The sellers have also undertaken subscription commitments for warrants that they still own.
The transaction involves 999 996 warrants of series TO2 and has been executed outside of the marketplace. The purpose of the transaction has been to allow for investors to acquire shares in the Company and to achieve the best possible subscription rate during the subscription period for the warrants of series TO2.
Members of the Company’s Board of Directors and management have undertaken subscription commitments for 329 792 warrants of series TO2. The Company thus has received subscription commitments for a total of 1 329 788 warrants of series TO2.
The subscription commitments have been agreed in writing and no consideration is to be paid for the subscription commitments. The subscription commitments are not secured through bank guarantees, restricted funds, pledged assets or similar arrangements.
Further information about the warrants of series TO2 can be found on the Company’s website.
For further information, please contact:
Daniel Brodén, CFO
Phone: +46 768 66 77 87
Email: info@cerenoscientific.com
About Cereno Scientific AB
Cereno Scientific is a clinical stage biotech company within cardiovascular diseases. The lead drug candidate, CS1, is a Phase II candidate in development for the treatment of the rare disease pulmonary arterial hypertension (PAH). CS1 is an HDAC (histone deacetylase) inhibitor that acts as an epigenetic modulator with pressure-reducing, reverse-remodeling, anti-inflammatory, anti-fibrotic and anti-thrombotic properties, all relevant for PAH. A clinical Phase II study is ongoing to evaluate CS1’s safety, tolerability, and efficacy in patients with PAH. A collaboration agreement with global healthcare company Abbott allows Cereno to use their cutting-edge technology CardioMEMS HF System in the study. Cereno also has two promising preclinical drug candidates in development for cardiovascular disease through research collaborations with the University of Michigan. Drug candidate CS585 is a stable, selective, and potent prostacyclin receptor agonist. In preclinical studies CS585 has been documented to target the IP receptor for prevention of thrombosis without increased risk of bleeding. Drug candidate CS014 is a novel HDAC inhibitor with epigenetic effects. In preclinical studies CS014 has been documented to regulate platelet activity, fibrinolysis and clot stability for prevention of thrombosis without increased risk of bleeding. Cereno Scientific is headquartered in Gothenburg, Sweden, and has a US subsidiary Cereno Scientific Inc. based in Kendall Square in Boston, Massachusetts, US. Cereno is listed on the Swedish Spotlight Stock Market (CRNO B). More information on www.cerenoscientific.com.