Scandinavian ChemoTech is carrying out a directed new share issue and will receive approximately MSEK 18
Scandinavian ChemoTech AB (publ) (“ChemoTech” or “the Company”) hereby announces that the Company has carried out a directed new share issue which will provide the Company with approximately MSEK 18 before transaction costs. The capital injection enables an upshift of the Company's long-term strategy.
The Board of ChemoTech has, with the support of authorisation from the Annual General Meeting on May 24, 2021, decided on a directed new issue of 874,211 Series B shares at a subscription price of SEK 20.59 per share. The subscription price corresponds to a discount of approximately 15 percent in relation to the average volume-weighted price (VWAP) for the share on the Nasdaq First North Growth Market over the past 3 trading days.
It is the Board's assessment that the subscription price is market-based and reflects prevailing market conditions and demand. The reason why the share issue has been carried out, and the reasons for the deviation from the shareholders' preferential rights is that it provides the company with working capital in a sufficiently time- and cost-effective manner and take advantage of future opportunities to bring in long-term stable owners and finance the Company’s growth strategy.
Investors in the directed new share issue consist of three investors are as follows:
| Investors | Amount shares | Amount in SEK |
| Kattson i Sverige AB | 24 284 | 500 007,56 |
| Nyenburgh Holding B.V | 728 509 | 15 000 000,31 |
| Mangold Fondkommisison AB | 121 418 | 2 499 996,62 |
The largest subscriber in this issue is the Dutch investment company Nyenburgh Holding B.V, with whom we have had an active dialogue since May. In ChemoTech's financial strategy, the Company has sought and now attracted new capital from both new and international players, who are long-term and share ChemoTech's commitment and vision. For more information, please visit Nyenburgh Holding B.V.'s website: https://www.nyenburgh.com
“After an intensive spring with, among other things, a successful CE marking, it has now been possible to complete a directed new share issue. This Share issue creates the conditions for an increased focus on commercialisation and clinical validation of both existing and new indications, such as pancreatic cancer.” - says Mohan Frick CEO
The Share issue issues a dilution of approximately 9.19 percent of the number of shares and votes in the Company calculated according to the Share issue. Following the registration of the Private Placement with the Swedish Companies Registration Office, the total number of outstanding shares will increase by 874,211, from 8,633,427 to 9,507,638. The share capital will increase by SEK 437,105.50, from approximately SEK 4,316,713.50 to approx. 4,753,819.00.
This disclosure contains information that ChemoTech is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 03-09-2021 08:50 CET.
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.