STENOCARE A/S new share issue significantly oversubscribed
On October 9, 2018, the subscription period of STENOCARE A/S ("STENOCARE") new share issue of a maximum of approx. DKK 18.6 million prior to listing on Spotlight Stock Market ("Spotlight") was completed. STENOCARE received subscription for a total of approx. DKK 402 million, including subscription commitments, from a total of 11,812 subscribers. This corresponds to a total subscription ratio of approx. 2,161 percent, and a subscription ratio of the public part of the share issue, i.e. the part that was not pre-subscribed, of approx. 5,281 percent. Through the new share issue, STENOCARE will receive approx. 2,100 new shareholders.
Subscription and allotment
The new share issue of approx. DKK 18.6 million was subscribed to approx. DKK 402 million, including subscription commitments of approx. DKK 11.2 million. Due to the extensive interest, allotment takes place by random selection (i.e. lottery) in accordance with the allocation principles stated in the memorandum. The shares (excl. the shares subscribed by pre-subscribers who are guaranteed full allocation) will be distributed in minimum portions of 400 shares to a total of approx. 2,100 new shareholders out of the total number of subscribers of 11,812 who subscribed in the new share issue. This way, the maximum number of new shares, 2,113,000 in total, will be issued, and STENOCARE will receive DKK 18,594,400 before costs related to the issue of approximately DKK 1.4 million.
Settlement notes are scheduled to be sent to all allotted shareholders today, October 12, 2018. Subscribers that do not get an allocation of shares will not receive a settlement note.
Thomas Skovlund Schnegelsberg, CEO of STENOCARE, comments:
“We are of course overwhelmed and incredibly grateful for the great interest that has been shown for our new share issue. I would like to take this opportunity to welcome all new shareholders. While we are delighted with the interest shown, it is unfortunate that we have not been able to assign shares to all who have chosen to subscribe. If possible, we would of course have liked to oblige everyone and to those who have not been assigned any or only a part of the shares you have subscribed for, we can only apologize. I hope you will continue to follow our journey when we start the trading on Spotlight Stock Market on October 26, 2018. I would also like to extend my gratitude to all those parties who, in one way or another, have been involved and made this all possible such as Sedermera Fondkommission, Gemstone Capital and Nordnet Bank among many others. We have an exciting time ahead of us and we are now a few steps closer to realizing our vision of improving the quality of life of patients with chronic pain and suffering.”
Listing on Spotlight Stock Market
The first day of trading in STENOCARE’s shares on Spotlight is expected to be October 26, 2018. STENOCARE’s shares will be traded under the label "STENO" and with ISIN code DK0061078425.
Number of shares and share capital
When STENOCARE’s new share issue has been registered at Erhvervsstyrelsen, the total number of shares will amount to 8,897,762 shares and the share capital amounts to DKK 711,820.96.
Disclosure notice in Steno Investment IVS and CannTrust Holdings Inc.
Due to the newly issued new share issue, a disclosure notice for Steno Investment IVS and CannTrust Holdings Inc. occurs. Steno Investment IVS's ownership amounted to approximately 21.98 percent of shares and capital in the company prior to the new share issue and, after the completion of the new issue, amounts to approximately 16.89 percent of the shares and capital in the company. CannTrust Holdings Inc's ownership amounted to approximately 20.94 percent of shares and capital in the company prior to the new share issue and, after the completion of the new issue, amounts to approximately 19.03 percent of the shares and capital in the company.
Financial advisor
Sedermera Fondkommission is the financial advisor to STENOCARE in connection with the new share issue and the listing on Spotlight. Nordnet Bank AB was the Selling Agent in the new share issue and Gemstone Capital has assisted the company with marketing in Denmark, etc.
For additional information regarding the new share issue and planned listing, please contact:
Sedermera Fondkommission
Phone: +46 (0) 40-615 14 10
E-mail: info@sedermera.se
For additional information regarding STENOCARE, please contact:
Thomas Skovlund Schnegelsberg, CEO
through Press-coordinator Lisbeth Grænge Hansen
Phone: +45 30161097
E-mail: presse@stenocare.com
This information is information that STENOCARE A/S is obliged to publish in accordance the EU Market Abuse Regulation. The information was provided by the contact person above for publication on October 12, 2018.
STENOCARE A/S was founded in 2017 with the purpose of being an active participant in the Danish medical cannabis pilot programme. The company was first to receive the Danish Medicines Agency's permission to import, distribute as well as cultivate and produce medical cannabis. The company offers high quality pharmaceutical grade medical cannabis oil, which is produced by hygienic and high technology cultivation and processing without the use of pesticides. STENOCARE will also develop a separate production facility for the cultivation and production of medical cannabis at the company’s premises in Jutland, Denmark.