Warrants of series TO2 have been recalculated and the subscription price when exercising the warrants in Pharmacolog has been set to SEK 0.18 and the exercise period starts on October 4, 2023.
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Pharmacolog i Uppsala AB ("Pharmacolog" or the "Company") completed a rights issue of units on Nasdaq First North Growth Market in September 2022. Each unit consisted of two (2) shares of series B and one (1) warrant of series TO2. According to the terms for the warrants of series TO2 the subscription price shall correspond to 70 percent of the volume-weighted average price of the Company's share on Nasdaq First North Growth Market during the measurement period, which ran from September 19, 2023 to October 2, 2023. The subscription price cannot be lower than the quota-value of the share. The volume-weighted average price of the Company’s share during the measurement period amounted to approximately SEK 0.17 which means that the subscription price has been determined to the quote value of the share after rounding of SEK 0.18. According to the terms of the warrants of series TO2, recalculation of both the subscription price and the number of shares each warrant entitles to shall be carried out in connection with issues of securities with preferential rights for existing shareholders. In light of the issue of units with preferential rights that the Company carried out in July 2023, the outcome of which was communicated on July 11, 2023 (the “Rights Issue”), the subscription price has been recalculated to SEK 0.18, and the number of shares each warrant entitles subscription to has been recalculated to 1.08. The exercise period for warrants of series TO2 runs during the period from October 4, 2023 to October 18, 2023.
Full terms and conditions for the Warrants are available on the Company's website, https://pharmacolog.com/ .
Summarized terms for the warrants of series TO2:
The Company’s board of directors has, in consultation with its advisors, carried out a recalculation in accordance with the applicable terms and conditions, also taking into account that the result shall be reasonable. The recalculation has been carried out taking into account the maximum number of shares that could be issued in the Rights Issue increased by the maximum number of warrants of series TO3 that could be issued in the Rights Issue.
The result of the recalculation due to the Rights Issue is that each warrant of series TO2 gives the right to subscribe for 1.08 new shares in the Company.
Exercise period: October 4, 2023 - October 18, 2023.
Issue volume: 2,049,966 warrants of series TO2 entitle the holder to subscribe for 2,213,963 shares of series B. Upon full utilization, the Company will receive approximately SEK 0.37 million before issue costs.
Subscription price: 0.18 SEK per share.
Last day for trading with warrants of series TO2: October 13, 2023.
Share capital and dilution: Upon full exercise of the warrants, the share capital will increase by SEK 391,871.45, from SEK 11,719,858.53 to SEK 12,111,729.98. The number of shares increases upon full exercise by 2,213,963 shares, from 66,213,890 shares to 68,427,853 shares. The dilution at full utilization amounts to approximately 3.24 percent of the existing number of shares and votes in the Company.
Please note that the warrants that are not exercised no later than October 18, 2023, or disposed of no later than October 13, 2023, will expire worthless. In order for the warrants not to expire, active subscription of shares or disposal of the warrants is required.
Advisor
Mangold Fondkommission AB is financial advisor to Pharmacolog in connection with the utilization of warrants. Eversheds Sutherland Advokatbyrå AB is legal advisor to the Company in connection with the utilization of warrants.
For more information contact:
Lars Gusch, CEO
Email: lars.gusch@pharmacolog.com
Phone: +46 70-223 97 72
About Pharmacolog
Pharmacolog provides solutions and products that enhance work efficiency and safety when preparing injectable medication. Our goal is to help prevent medication errors and ensure maximum medication efficacy when treating patients with powerful yet potentially harmful injectable drugs. Pharmacolog’s products help staff at pharmacies and hospital wards minimize the risk of errors in the compounding process. Furthermore, by verifying that drugs and narcotics used in surgery have not been tampered with, our solutions also make a vital contribution to preventing drug diversion.
The following trademarks are owned and protected by Pharmacolog i Uppsala AB: Pharmacolog™-logo, DrugLog™, WasteLog™, PrepLog™ and Pharmacolog Dashboard™.
Further information regarding the company is available at https://pharmacolog.com/.
The company's Certified Adviser is Mangold Fondkommission AB.
Important information
The publication, announcement or distribution of this press release may in certain jurisdictions be subject to legal restrictions and persons in the jurisdictions in which this press release has been published or distributed should inform themselves about and observe such legal restrictions. The recipient of this press release is responsible for using this press release and the information contained herein in accordance with the applicable rules in each jurisdiction. This press release does not constitute an offer or an invitation to acquire or subscribe for any securities in Pharmacolog in any jurisdiction, neither from Pharmacolog nor from anyone else.
This press release does not constitute an offer or invitation to acquire or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of such securities in the United States. The information contained in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or into Australia, Canada, Hong Kong, Japan, New Zealand, South Africa, Switzerland, the United States, Belarus, Russia or any other jurisdiction where such announcement, publication or distribution of this information would be contrary to applicable law or where such action is subject to legal restrictions or would require additional registration or other measures than those required by Swedish law. Actions in violation of this instruction may constitute a violation of applicable securities laws.
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