Scandinavian ChemoTech announces 98 percent exercise of warrants
Scandinavian ChemoTech AB (publ) (“Scandinavian ChemoTech” or “the Company”) will receive approximately mSEK 13.6 before issue costs through the exercise of warrants of series TO1 (“TO1”) and TO2 (“TO2”).
In the spring of 2020, Scandinavian ChemoTech carried out a rights issue of units. Each (1) A-unit consisted of two (2) newly issued Series A shares and two (2) TO2s. Each (1) B-unit consisted of two (2) newly issued Series B shares and two (2) TO1s. One (1) TO1 entitles the holder to subscribe for one (1) new share of series B in the Company and one (1) warrant of series TO2 entitles the holder to subscribe for one (1) new share of series A in the Company.
On January 29, the exercise period for Scandinavian ChemoTech's warrants TO1 and TO2 (“Warrants”) ended. A total of 2,288,427 TO1 and 300,000 TO2, corresponding to a total degree of exercise of approximately 98 percent of all Warrants, were exercised for a subscription of 300,000 Series A shares and 2,288,427 Series B shares at a subscription price of SEK 5.25 per share. Through the Warrants, Scandinavian ChemoTech will thus receive approximately mSEK 13.6 before issue costs.
Number of shares and share capital
Through the exercise of the Warrants, the number of Series A and B shares in Scandinavian ChemoTech increases by 300,000 and 2,288,427 shares, respectively, from 750,000 and 5,250,000 to 1,050,000 and 7,583,427 Series A and B shares, respectively. The total number of shares in the Company thus increases to 8,633,427. The share capital increases by SEK 1,294,213.50 from SEK 3,022,500.00 to SEK 4,316,713.50.
For more information, please contact:
Mohan Frick, CEO
Phone: +46 (0)10-218 93 00
Certified Adviser: Erik Penser Bank, Tel: +46 8 463 80 00, E-mail: certifiedadviser@penser.se
Scandinavian ChemoTech AB (publ)
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 Erik Penser Bank is the company's Certified Adviser. Read more at: www.chemotech.se.