Idogen announces outcome of exercise period for Series TO 4 subscription warrants
The board of directors of Idogen AB ("Idogen" or "the Company") today announces the outcome of the exercise of warrants of series TO 4 (“Subscription Warrants”), which were issued in connection with the Company's rights issue of units during the fourth quarter 2020. The subscription rate was 52.92 percent and Idogen receives approximately SEK 9.9 million before issue costs.
Idogen issued a total of 9,121,654 units in the fourth quarter 2020, each unit containing one (1) share and one (1) Subscription Warrant. Each Subscription Warrant entitled the holder to subscribe for one (1) new share in the Company at a subscription price corresponding to seventy (70) percent of the volume weighted average price during the period September 6 – 17 2021, which was established as SEK 2.06 per share. The exercise period started on September 21, 2021 and ended on October 5, 2021. The outcome shows that approximately 52.92 percent of the outstanding Subscription Warrants were exercised, corresponding to 4,827,167 Subscription Warrants exercised for subscription of the same number of shares. Exercised warrants have been replaced with interim shares pending registration with the Swedish Companies Registration Office. The conversion of interim shares into shares is expected to take place within approximately two (2) weeks, eg around October 20.
Through the exercise of Subscription Warrants, the Company receives approximately SEK 9.9 million before issue costs. The number of shares in Idogen increases by 4,827,167 shares, from 18,243,308 shares to 23,070,475 shares. The share capital increases with SEK 3,379,016.90, from SEK 12,770,315.60 to SEK 16,149,332.50.
“Idogen thanks the shareholders who used their TO4 to purchase new shares. We are now conducting the final preparations for a clinical trial in patients with severe hemophilia A, who have developed antibodies to their vital coagulation factor VIII (FVIII) treatment. An optimization of the manufacturing process of the company's tolerogenic cell therapy is currently underway. The intention is to start the study at the beginning of the second quarter of 2022 and we look forward to the continued development ", says Anders Karlsson, CEO of Idogen.
Lund, October 8, 2021
Idogen AB (publ)
For questions concerning the Series TO 4 subscription warrants, please contact:
Erik Penser Bank AB
Phone: +46 (0)8-463 80 00
Email: emission@penser.se
For further information, please contact:
Anders Karlsson, CEO, Idogen AB
Phone: +46 (0) 709 18 00 10
Email: anders.karlsson@idogen.com
The English text is an unofficial translation of the original Swedish text. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.
This information is such that Idogen AB is obligated to publish under the EU Market Abuse Regulation (MAR) and the Swedish Securities Market Act. The information was submitted for publication, through the agency of the contact persons set out above, on October 8, 2021 at 08:42 CEST.
Certified Adviser
The company’s Certified Adviser is Erik Penser Bank AB. Contact information: Erik Penser Bank AB, Box 7405, SE-103 91 Stockholm; phone: +46 (0)8-463 80 00, email: certifiedadviser@penser.se
Idogen (Nasdaq First North Growth Market: IDOGEN) develops tolerogenic cell therapies to prevent the patient’s immune system from attacking biological agents, transplanted organs or the body's own cells or tissue. The company’s most advanced project, IDO 8, is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralizing antibodies. The company’s second project, IDO T, is being developed to prevent kidney transplant rejection. In a third program, IDO AID, Idogen is focused on the treatment of autoimmune diseases. The treatment for all indications is based on the patient's own cells and is expected to have a favorable safety profile and long-lasting effect. The potential for a short-term treatment to yield a long-term effect is a major advantage in health economics for both patients and divisions providing care.
IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Idogen. An offer to the persons concerned to subscribe for units consisting of shares and warrants series TO 4 in Idogen has only been made through the prospectus that Idogen published on 12 November 2020.
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