Cereno Scientific repays the remaining convertible loan
European High Growth Opportunities Securitization Fund (“EHGOSF”) has by notice to the board of directors of Cereno Scientific AB (publ) (“Cereno”) called upon its right to conversion of convertible bonds previously issued in accordance with the financing solution announced by Cereno through a press release on 19 March 2018.
Cereno has received notification from European High Growth Opportunities Securitization Fund regarding conversion of convertible bonds, corresponding to SEK 2,600,000 of the convertible loan. Cereno has chosen to repay the loan in cash instead of issuing new shares. According to the agreement, the repayment amount is calculated based on the current share price and amount to SEK 5,435,560.
After the repayment, there are no longer any outstanding convertible loans left.
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. Cereno Scientific’s drug candidate, CS1, is expected to provide a possibility for an effective prevention of thrombosis and a lower risk for serious bleeding complications than with current blood thinning therapies. CS1 is an innovative controlled release 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 Spotlight Stock Market since June 2016 with the ticker CRNO B, ISIN SE0008241558.
This information is such that Cereno Scientific AB is required to make public in accordance with the EU’s market abuse regulation (MAR). The information was made available publically by the Company’s contact person on March 22th 2019.