The exercise period for warrants of series TO 5 B begins today
Lund, Sweden – Today is the first day of the exercise period for Clinical Laserthermia Systems AB’s ("CLS" or the "Company") warrants of series TO 5 B, which were issued in connection with the Company's rights issue of units that was announced on 10 August 2022. Holders of warrants of series TO 5 B have, for each warrant, the right to subscribe for one (1) new B-share in CLS at a price of SEK 0.46 per share. The exercise period runs until and including 28 February 2023.
Information about warrants of series TO 5 B
In connection with the Company's rights issue of units that was announced on 10 August 2022, 27,722,620 warrants of series TO 5 B were issued. Each warrant of series TO 5 B entitles the holder to subscribe for one (1) new B-share in CLS at a price of SEK 0.46 per share during the exercise period that runs from 14 February 2023 until and including 28 February 2023.
At full utilization of warrants of series TO 5 B, the Company will be provided proceeds of approximately SEK 12.8 million before deduction of transaction related costs. Members of the Board of Directors and management of CLS have entered into declarations of intent to exercise all of their warrants of series TO 5 B to subscribe for new B-shares in the offer, corresponding a total of approximately SEK 200,000.
The issue proceeds are mainly intended to be used to continue to support the ongoing market establishment and commercial launch of the new generation of TRANBERG® products in the USA, Europe and the Asia-Pacific region, principally within the urology and neurosurgery market segments. The Company also intends to increase its investment in further clinical collaborations to effectively support its launch and commercialization work and to improve the Company’s financial flexibility and capital structure with reduced borrowing costs through the repayment of loans.
Upon full exercise of warrants of series TO 5 B, the number of shares in CLS will increase by 27,722,620 B-shares to a total of 162,844,439 shares (of which 162,244,439 B-shares) and the share capital will increase by approximately SEK 2,564,342.36 to SEK 15,063,110.69. The dilution at full utilization amounts to approximately 17 percent of the capital and 16.5 percent of the votes.
Information brochures containing summary information about the Company and the offer (in Swedish and English) are available on the websites of CLS (www.clinicallaser.se), Sedermera Corporate Finance AB (www.sedermera.se) and Nordic Issuing AB (www.nordic-issuing.se). Complete terms and conditions for warrants of series TO 5 B are available on the Company's website.
Here is how to exercise warrants of series TO 5 B
For warrants not to expire worthless, warrant holders must subscribe for new shares, with the support of warrants, at 17:00 CET on 28 February 2023, at the latest, alternatively sell warrants no later than on 24 February 2023.
Warrants can be registered in two ways:
1. In a securities custody account with a bank or other nominee (for example, Avanza or Nordnet), in an investment savings account (Sw. Investeringssparkonto) or endowment account (Sw. Kapitalförsäkring). The warrants are then nominee registered.
2. In a VP-account (a VP-account starts with three zeros). The warrants are then directly registered.
If warrants are nominee registered
Subscription and payment of new shares, with the support of warrants, shall be made to the account-holding bank/nominee with which the warrants are registered. The subscription and payment shall be made in accordance with the instructions from each such bank or nominee. Usually, the bank/nominee sends out a digital notice to the account holder, otherwise it is usually enough to log into the securities custody account from the first day in the exercise period in order to get instructions on how to exercise warrants for subscription of new shares. The warrant holder is advised to contact its bank or trustee in the event that these instructions are not found. Please note that banks and other nominees may set different time limits for subscription, hence the warrant holder is recommended to contact the account-holding bank/nominee early in the exercise period to obtain information about subscription and payment. An information brochure will be sent out to most nominee registered warrant holders. Subscribed and paid for shares may be registered as “interim shares” or “IA” into the securities custody account until registration of the issue is completed with the Swedish Companies Registration Office, whereby interim shares will automatically be converted to ordinary B-shares in CLS.
If warrants are directly registered
No VP-account statement will be sent out. Subscription of new shares, with the support of warrants, shall be made by sending a completed subscription form digitally to Nordic Issuing AB. In conjunction with sending the completed subscription form to Nordic Issuing AB, payment must be made in accordance with the payment details stated on the subscription form. Subscription form will be available on Nordic Issuing AB’s website (www.nordic-issuing.se).
Completed subscription form and payment must be registered with Nordic Issuing AB no later than 17:00 CET on 28 February 2023. Subscribed and paid for shares will be registered as “interim shares” or “IA” into the VP-account until registration of the issue is completed with the Swedish Companies Registration Office, whereby interim shares will automatically be converted to ordinary B-shares in CLS.
Investor meetings
During the exercise period, the Company will present more about the business, its strategic priorities and commercial roll-out at the following events:
- Strategy Update Event on 15 February 2023 at 13:00-15:00. More information here.
- Financial Stockholm’s investor meeting on 22 February 2023 at 17:25-20:30. More information here (in Swedish).
Advisors
In connection with the exercise of warrants of series TO 5 B, Sedermera Corporate Finance AB is acting as financial advisor, Markets & Corporate Law Nordic AB as legal advisor and Nordic Issuing AB as issuing agent. Shark Communication AB is assisting the Company with advise regarding communication.
For more information about the warrants of series TO 5 B, please contact:
Sedermera Corporate Finance AB
Phone: +46 40 615 14 10
E-mail: cf@sedermera.se
www.sedermera.se
For more information about CLS, please contact:
Dan J. Mogren, CEO Clinical Laserthermia Systems AB (publ)
Phone: +46 (0) 70-590 11 40
E-mail: dan.mogren@clinicallaser.com
www.clinicallaser.se
This press release has been translated from Swedish. The Swedish text shall govern for all purposes and prevail in case of any discrepancy with the English version.
About CLS
Clinical Laserthermia Systems AB (publ) develops and sells the TRANBERG®|Thermal Therapy Systems, including Thermoguide Workstation and sterile disposables, for minimally invasive treatment of cancer tumors and drug-resistant epilepsy, according to regulatory approvals in the EU and the US. The products are marketed for image-guided laser ablation and used in studies for treatmentwith imILT®, the Company's interstitial laser thermotherapy for immunostimulant ablation with potential abscopal effects. CLS is headquartered in Lund and has subsidiaries in Germany, the US and Singapore. CLS is listed on the Nasdaq First North Growth Market under the symbol CLS B. The Certified Advisor (CA) is FNCA Sweden AB, Tel: +46 8 528 00 399. E-mail: info@fnca.se.
For more information about CLS, please visit the Company's website: www.clinicallaser.se