The exercise period for Cline Scientific’s subscription warrants begins today
Cline Scientific AB (publ) (“Cline” or “the Company”) carried out a rights issue of units during May 2020, including shares and warrants TO 1 A & B. On Tuesday, March 2, 2021, the exercise period for the warrants TO 1 A & B begins. The exercise period lasts until 12 March, 2021.
One (1) warrant entitles the holder to subscribe for one (1) new share. According to the terms, the exercise price has been determined to be SEK 3.38 per share, no commission is paid. Upon full exercise of the Warrants, approximately SEK 13.5 million will be provided to Cline. The issue costs are estimated at approximately SEK 100 thousand.
The number of registered warrants amounts to 159,333 Series A and 3,847,037 Series B. Only Series B warrants are traded on Spotlight Stock Market.
Holders of warrants who wish to redeem these as B shares must register it well in advance of Friday, March 12, 2021. The warrants then expire useless. Holders who do not wish to exercise their warrants are advised to sell them. Trading in the warrants is ongoing until Wednesday, March 10, 2021.
How the warrants are exercised:
Nominee-registered warrants (custody)
Subscription and payment of new shares through the exercise of warrants shall take place in accordance with instructions from the respective nominee. Please contact your trustee for further 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) until registration is completed with the Swedish Companies Registration Office, after which interim shares are automatically exchanged for ordinary shares in Cline Scientific.
Application form with instructions for payment will be available on the Company's website www.clinescientific.com and on Aktieinvest FK AB's website https://www.aktieinvest.se/.
Full terms for the warrants were included as part of the memorandum published in connection with the rights issue, which was published on May 8, 2020. The memorandum is available at www.clinescientific.com.
For more information, please contact:
Patrik Sundh, CEO
Phone: +46 703-585 088
About Cline Scientific
Cline Scientific develops advanced cancer diagnostics and regenerative medicine treatments. The company is working heavily with R&D through joint collaborations with pharmaceutical companies and academic researchers around the world. The focus is on projects in the cancer diagnostic and stem cell therapy fields since Clines nanotechnology here provides unmet solutions to critical challenges and functions. The unique patented surface nanotechnology is used in cell-based products and processes to drive projects within Life Science into and through the clinical phase