Scandinavian ChemoTech AB’s Board of Directors and management team exercise warrants of series TO3
The Board of Directors and management team in Scandinavian ChemoTech AB (“Scandinavian ChemoTech” or the “Company”) exercise warrants of series TO3. The number of warrants of series TO3 exercised by the Board of Directors and management team amounts to 280,954 TO3, consisting of 200,000 warrants of series TO3A and 80,954 warrants of series TO3B. This corresponds to approximately 11.8 percent of the outstanding warrants of series TO3, equivalent to a subscription of 280,954 shares at a value of approximately 1.35 million SEK.
"Scandinavian ChemoTech has never been in a more interesting position. In light of the recent clinical successes, the potential I see for using TSE on both superficial and deep-seated tumors in humans, and the successful treatment results we have seen in animal care, it is my belief that the company is facing great commercial success in the near term. Therefore, my family and I choose to exercise all of our TO3A warrants," says Mohan Frick, CEO of Scandinavian ChemoTech AB.
Summarized terms for the warrants of series TO3A and TO3B:
Exercise period: April 11, 2023 – April 24, 2023.
Exercise price: SEK 4.79 per share.
Issue size: 2,384,449 warrants divided into 328,333 warrants of series TO3A and 2,056,116 warrants of series TO3B. At full utilization 328,333 shares of series A and 2,056,116 shares of series B is issued, which provides approximately SEK 11.4 million to the Company, before issue costs.
Last day for trading warrants of series TO3B: April 20, 2023.
Advisors
Mangold Fondkommission AB is the financial advisor and Moll Wendén Advokatbyrå is the legal advisor to the Company in connection with the exercise of warrants of series TO3A and TO3B.
For more information, please contact:
Mohan Frick, CEO
Tel: +46 (0)10-218 93 00
E-mail: ir@chemotech.se
Certified Adviser: Redeye AB, Tel: +46 (0)8 - 121 576 90
E-mail: certifiedadviser@redeye.se
Scandinavian ChemoTech AB
ChemoTech is a Swedish medical technology company based in Lund that has developed a patented technology platform to offer cancer patients access to a new treatment alternative, Tumour Specific Electroporation™ (TSE), available for treatment of both humans and animals. There are a large number of cancer patients whose tumours for various reasons cannot be treated by conventional methods but where TSE can be a solution. Therefore, the company continuously evaluates new opportunities and areas of application for the technology.
ChemoTech's shares (CMOTEC B) are listed on Nasdaq First North Growth Market in Stockholm and Redeye AB is the company's Certified Adviser. Read more at: www.chemotech.se.