Dicot enters commitment agreement regarding the company´s warrants of series TO4 and thereby secures additional SEK 13.4 million
Press Release: Uppsala, Sweden, June 5, 2023. Dicot AB (publ) has today received guarantee commitments of approximately SEK 13.4 million regarding warrants of series TO4 ("TO4"), in addition to already communicated subscription obligations of approximately SEK 3.9 million. All in all, Dicot has thus agreed on subscription obligations and guarantee commitments corresponding to SEK 17.3 million or 70 percent of the issue volume in TO4.
The number of TO4 amounts to 225,229,530, whereby each one TO4 entitles the holder to subscribe for one new share in Dicot at a subscription price of SEK 0.11 during the period 1 – 15 June 2023. If all warrants of series TO4 are used for the subscription of shares, Dicot will receive approximately SEK 24.8 million before issue costs.
In order to ensure the utilization of TO4, Dicot has obtained guarantee commitments from a number of private investors corresponding to a total of approximately SEK 13.4 million of the issue volume in TO4. In addition, Dicot has secured approximately SEK 3.9 million through subscription obligations which was communicated in a press release May 31, 2023. All in all, the issue volume is thus secured to 70 percent. Through the guarantee commitment, the guarantors undertake, in the event that all TO4 are not utilized, to subscribe for the number of shares that remain for full utilization up to 70 % of the issue volume.
In the event that the guarantee commitment is activated, subscription of shares will in practice take place through a directed new issue after the utilization period for TO4 has ended. Subscription in such directed new issue shall be made at the established exercise price for TO4. The part of the directed new issue that exceeds the board's issue mandate will be subject to the approval of a general meeting.
For guarantee commitments, a cash compensation corresponding to 15 percent of the guaranteed amount is paid.
Advisors
Corpura Fondkommission AB (www.corpura.se) act as financial advisor and Advokatfirman Lindahl KB is legal adviser to the Company in connection to the warrants. Hagberg & Aneborn Fondkomission AB acts as issuing agent.
For further information, please contact:
Elin Trampe, CEO
Phone: +46 739 80 14 08
E-mail: elin.trampe@dicot.se
About Dicot AB
Dicot is developing the drug candidate LIB-01, which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to current available drugs. Today, over 500 million men suffer from these sexual dysfunctions and the market is valued at USD 8 billion. Dicot's strategy is to develop LIB-01 under own auspices until phase 2a studies and thereafter in partnership with larger, established pharmaceutical companies, finance and develop LIB-01 further to a registered pharmaceutical on the world market.
Dicot is listed on Spotlight Stock Market and has approximately 4,100 shareholders. For more information, please visit www.dicot.se.
This disclosure contains information that Dicot AB (publ) 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 05-06-2023 11:58 CET.