CS MEDICA A/S issue of units prior to listing was oversubscribed
On August 31st, 2021, the subscription period in CS MEDICA A/S’s (”CS MEDICA” or the ”Company”) IPO of units (shares and consideration free warrants) prior to the planned listing on Spotlight Stock Market ended. The initial part of the IPO of units was subscribed to a total of approximately DKK 35.2 million, corresponding to a subscription ratio of approximately 158 percent. The Company will thus receive approximately DKK 22.3 million of which approximately DKK 3.9 million pertains to bridge loan, and approximately DKK 0.8 million is attributable to compensation (in the form of units) to bridge financiers. Furthermore, a previously obtained bridge loan (with no interest) of approximately DKK 2.8 million is to be redeemed against units in the offer. Through the issue, the Company will receive approximately 580 new shareholders. The first day of trading is expected to commence on September 14th, 2021.
Lone Henriksen comments
“I am proud to announce that the issue of units prior to our listing was oversubscribed. The strong interest in our business strengthens us as we proceed with our work. I want to welcome the new shareholders on board as we move towards the listing on Spotlight Stock Market and onwards, continuously scaling the business while entering new markets and growing our product portfolio.”
Subscription and allocation
Prior to the subscription period was initiated approximately DKK 13.4 million was secured via subscription commitments, corresponding to approximately 60 percent of the issue. In total the issue was subscribed for a total of approximately DKK 35.2 million, corresponding to a subscription ratio of approximately 158 percent. In connection with the issue, 2,902,000 shares and 1,160,800 warrants of series TO 1 will be issued. The Company will receive approximately DKK 22.3 million of which approximately DKK 3.9 million pertains to bridge loan financing. Approximately DKK 0.8 million is attributable to compensation (in the form of units) to bridge financiers and will thus not be provided to the Company. Furthermore, a previously obtained bridge loan (with no interest) of approximately DKK 2.8 million is to be redeemed against units in this offer. The cost of the issue amounts to approximately DKK 1.8 million. Through the issue, CS MEDICA will add approximately 580 new shareholders. The Board of Directors has decided on the allocation of units in accordance with the principles stated in the prospectus, and settlement notes are expected to be sent out today, September 3rd, 2021. Subscribers who have not been allocated units will not receive a settlement note.
Warrants of series TO 1
The exercise period for the warrants of series TO 1 issued in connection with the issue of units have an exercise period which takes place from August 2022. For each warrant, the warrant holder has the right to subscribe for one new share at a price of DKK 9.30 per new share. If all warrants of series TO 1 are exercised, the Company will be provided an additional approx. DKK 10.8 million before issue costs.
Number of shares and share capital
When CS MEDICA’s issue has been registered, the total number of shares will amount to 10,902,000, and the share capital will amount to DKK 708,630. The total number of warrants of series TO 1 will amount to 1,160,800.
Listing at Spotlight Stock Market
CS MEDICA’s shares and warrants are planned to be listed on Spotlight Stock Market. The first day of trading in the shares and warrants is projected to be on September 14th, 2021. The share will be traded under the ticker name ” CSMED”, with ISIN code DK0061668225 and the warrants will be traded under the ticker name ” CSMED TO 1”, with ISIN code DK0061668308.
Advisors, selling agent, and issuing agency
Sedermera Fondkommission is the financial advisor and Markets & Corporate Law Nordic is the legal advisor to CS MEDICA in connection with the capitalization and listing. Nordic Issuing acts as issuing agency and Nordnet Bank AB is the selling agent.
For more information about the offer, please contact:
Sedermera Fondkommission
Phone: +46 (0) 40 615 14 10
Email: info@sedermera.se
Website: www.sedermera.se
For more information about CS MEDICA, please contact:
Lone Henriksen, CEO
Phone: + (45) 71 20 30 47
Email: lh@galaxapharma.com
Website: https://www.cs-medica.com/
CS MEDICA A/S is a Danish medico cannabis company founded in 2011. CS MEDICA is committed to developing, manufacturing, and commercializing over-the-counter (OTC) medical device products containing cannabinoids. The Company runs its business through the two fully-owned subsidiaries, Galaxa Pharma A/S (distributor and representative of foreign manufacturers in the Nordic, registered medical device product distributor) and CanNordic A/S (Medical device developer and seller (BtB), registered medical device product manufacturer). CS MEDICA distributes products across the European borders and is headquartered in Copenhagen, Denmark.
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