Cereno Scientific to conduct warrants issue
The Board of Directors of Cereno Scientific AB (publ) (the “Company”) resolved today, 6 September 2019, on a warrants issue to members of the Company’s Scientific Advisory Board.
The Board of Directors resolved to issue at most 300,000 warrants (series 2019/2023 SAB01) with deviation from the shareholders’ preferential rights, whereby Dr Gunnar Olsson is entitled to subscribe for up to 100,000 warrants, Dr Bertram Pitt is entitled to subscribe for up to 100,000 warrants and Faiez Zannad is entitled to subscribe for up to 100,000 warrants.
The warrants will be issued for a consideration of SEK 0.396 per warrant, corresponding to the market value as assessed using the Black & Scholes pricing model. Each warrant provides entitlement to new subscription of one Class B share in the Company during the period 1 April 2023 and 31 October 2023. The subscription price per share amounts to SEK 15.26.
The Board of Directors’ decision to issue warrants is based on authorisation from the general meeting held on 19 June 2019.
About Cereno Scientific AB
Cereno Scientific is developing 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. In parallel with the development of CS1, Cereno Scientific develops CS014, a preclinical phase compound in cardiovascular diseases. The Gothenburg-based company is located in AstraZeneca’s BioVenture Hub 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.