The exercise period for warrants of series TO3 in Cereno Scientific begins today
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, AUSTRALIA, CANADA, NEW ZEALAND, HONG KONG, JAPAN, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, RUSSIA, BELARUS OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL OR WOULD REQUIRE REGISTRATION OR ANY OTHER MEASURES. PLEASE REFER TO IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
Today, on March 5, 2024, the exercise period begins for warrants of series TO3 in Cereno Scientific AB (publ) (“Cereno” or the “Company”). The exercise period runs until March 19, 2024. Each warrant of series TO3 entitles the holder to subscribe for one (1) new share of series B in the Company at a price of SEK 1.60 per share. If all warrants of series TO3 are exercised, the Company will receive approximately SEK 77 million before issue costs. In order for the warrants not to expire without value, it is required that the holder exercises the warrants for subscription of shares of series B no later than March 19, 2024, or alternatively sells the warrants no later than March 14, 2024.
Summarized terms for the warrants of series TO3:
Exercise period: March 5, 2024 – March 19, 2024.
Exercise price: SEK 1.60 per share of series B.
Issue size: 48,130,195 warrants of series TO3 entitling to subscription of 48,130,195 shares of series B. If all the warrants are exercised the Company will receive approximately SEK 77 million before issuing costs.
Last day for trading with warrants of series TO3: March 14, 2024.
Note that the warrants that are not exercised at latest on March 19, 2024, or sold at the latest on March 14, 2024, will expire without value. For the warrants not to lose their value, the holder must actively exercise the warrants for subscription of new shares of series B or sell the warrants. Please observe that certain nominees might close their application earlier than March 19, 2024.
Full terms and conditions for the warrants are available at the Company's website, www.cerenoscientific.com, and Mangold’s website, www.mangold.se.
Shares, share capital, and dilution
If all warrants of series TO3 are exercised the total number of shares in the Company will increase by 48,130,195, from 233,775,234 shares to 281,905,429 shares, and the share capital will increase with SEK 4,813,019.50, from SEK 23,377,523.40 to SEK 28,190,542.90. This corresponds to a maximum dilution of approximately 17.1 percent of the total number of shares and 16.7 percent of the total number of votes in the Company. The dilution effect has been calculated as the number of additional shares and votes, respectively, in relation to the number of existing and additional shares and votes, respectively.
How the warrants are exercised:
Nominee-registered warrants (custody):
Subscription and payment by exercise of the warrants shall be made in accordance with instructions from each nominee. Please contact your nominee for additional information.
Directly registered warrants (VP account):
No issue report or payment instruction will be sent out. Subscription must be made by simultaneous cash payment according to the instructions on the application form. The warrants are then replaced with interim shares (IA) pending registration at the Swedish Companies Registration Office.
The application form with instructions for payment will be available on the Company's website, www.cerenoscientific.com, and on the issue institute Mangold Fondkommission AB's website, www.mangold.se.
Advisers
Mangold Fondkommission AB is financial adviser and issuing agent and MAQS Advokatbyrå AB is legal advisor to Cereno in connection with the exercise of the warrants of series TO3.
For questions regarding the warrants, please contact:
Mangold Fondkommission AB
Tel: +46 8 5030 1595
E-mail: emissioner@mangold.se
For more information regarding Cereno, please contact:
Henrik Westdahl, Director IR & Communications
Tel: +46 70 817 59 96
E-mail: henrik.westdahl@cerenoscientific.com
Sten R. Sörensen, CEO
Phone: +46 73-374 03 74
Email: sten.sorensen@cerenoscientific.com
About Cereno Scientific
Cereno Scientific develops innovative treatments for common and rare cardiovascular disease. The lead drug candidate, CS1, is a HDAC (histone deacetylase) inhibitor that acts as an epigenetic modulator with pressure-reducing, reverse-remodeling, anti-inflammatory, anti-fibrotic and anti-thrombotic properties. A Phase II study is ongoing to evaluate CS1's safety, tolerability, and efficacy in patients with the rare disease pulmonary arterial hypertension (PAH). A collaboration agreement with global healthcare company Abbott allows Cereno to use their cutting-edge technology CardioMEMS HF System in the study. Two initiatives performed during the ongoing Phase II study have shown positive findings suggesting the potential clinical benefit of CS1 in PAH patients. These initial findings are, however, not a guarantee of the final study results that are expected in Q3 2024. Since January 2024, CS1 has been available under FDA's Expanded Access Program ("Compassionate Use") for continued CS1 treatment in patients who have completed the Phase II study. Cereno also has two promising preclinical drug candidates in development through research collaborations with the University of Michigan. Investigational drug CS014 is a HDAC inhibitor in development as a treatment for arterial and venous thrombosis prevention. The innovative drug candidate represents a groundbreaking approach to antithrombotic treatment potentially without the associated increased risk of bleeding in humans. CS014 is a new chemical entity with a multi-fold mechanism of action as an epigenetic modulator - regulating platelet activity, fibrinolysis, and clot stability for the prevention of thrombosis without increased risk of bleeding as documented in preclinical studies. Drug candidate CS585 is a prostacyclin receptor agonist that has been documented in several preclinical studies to target the IP receptor for prevention of thrombosis without increased risk of bleeding, which also has been recognized in the medical community. CS585 was in-licensed from the University of Michigan in 2023. The company 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 Nasdaq First North (CRNO B). More information on www.cerenoscientific.com.
Important information
The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Cereno in any jurisdiction, neither from Cereno nor anyone else.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, the United States, Russia, Belarus or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
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