SpectraCure's MSEK 140 rights issue of units is fully guaranteed
THIS PRESS RELEASE MAY NOT BE ANNOUNCED, PUBLISHED OR DISTRIBUTED, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES, JAPAN, CANADA OR ANY OTHER JURISDICTION WHERE SUCH PUBLICATION OR DISTRIBUTION WOULD VIOLATE APPLICABLE LAWS OR RULES OR WOULD REQUIRE ADDITIONAL REGISTRATION OR OTHER ACTION.
A top guarantee up to 100 percent of the rights issue has been obtained in addition to the previously disclosed subscription commitments and guarantee consortium.
In addition to the previously guaranteed level of approximately 82.5 percent, SpectraCure has now obtained a top guarantee syndicated by G&W Fondkommission that covers the remaining amount of the rights issue totaling approximately MSEK 140. Like the guarantors of the bottom guarantee, the guarantors of the top guarantee between 82.5 percent and the full amount of the rights issue will receive a compensation in the form of set-off against newly issued units at the same unit price as in the rights issue. The compensation of the top guarantors, a few strategic investors, corresponds to 12 percent of the guaranteed amount. Consequently, no more than 184,095 units, corresponding to no more than 184,095 shares and no more than 184,095 Series TO4 subscription warrants, will be issued to the guarantors as a guarantee fee. The guarantors' fee will thus not affect the cash net proceeds from the rights issue.
SpectraCure has previously obtained subscription undertakings of approximately MSEK 7, corresponding to about 5 percent of the rights issue, MSEK 3 (corresponding to the full pro rata share) of which from MK Capital AB (controlled by CEO Masoud Khayyami) and MSEK 4 of which from Cardeon Futuring Financing AB (30 percent owned by CEO Masoud Khayyami) (corresponding to the full pro rata share). Further to that, a number of external investors have, as previously been disclosed, provided guarantee commitments totaling approximately MSEK 108.4,corresponding to about 77.5 percent of the Rights Issue. Previously disclosed subscription and guarantee commitments thus amount to approximately MSEK 115.4, corresponding to about 82.5 percent of the total Rights Issue.
No cash or other assets have been pledged and no other collateral has been provided to secure the commitments. Detailed information on the parties who have made guarantee commitments will be found in the prospectus, which will be made public in conjunction with the beginning of the subscription period for the rights issue.
For more information, please contact:
SpectraCure AB (publ), CEO Masoud Khayyami, telephone: +46(0) 70 815 21 90
This information is information that SpectraCure AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted , for publication, through the agency of the contact person set out above, on 1 June 2020, at 13:45.
SpectraCure was founded in 2003 as a spin off from Lund University and LTH Faculty of Engineering. The company focuses on cancer treatments with medical systems based on laser light sources, connected to the tumour by way of optical fibers, in combination with a photoreactive drug. The method is referred to as Interstitial Photodynamic Therapy, PDT. The treatment is suitable for internal solid tumours of various kind, such as prostate and pancreatic tumours, but also for example for cancers of the head and neck. www.spectracure.com