SynAct Pharma's Board of Directors and management sign subscription commitment for warrant exercise of series TO 2

SynAct Pharma AB ("SynAct") today announces that the company's Board of Directors and management have agreed to subscribe for 100 percent of the Board of Directors and management's total holding of warrants of series TO 2 ("TO 2"). In total, the Board of Directors and management have agreed on a subscription of approximately SEK 1.2 million of  TO 2 ahead of the exercise period that will run between
1 July – 22 July, 2020.

Warrants of series TO 2 in brief

In October 2019, SynAct completed a directed issue and a rights issue were 4 891 268 warrants of series TO 2 were issued. During the upcoming exercise period, holders of TO 2 have the right, for each warrant, to subscribe for a new share in SynAct at a price of SEK 6.70. Warrant holders will have the right to exercise TO 2 from 1 July, 2020 until 22 July, 2020, or sell them on 20 July, 2020 at the latest. Warrants of series TO 2 that has not been exercised by 22 July, 2020 will lose its value. Information on how to exercise warrants of TO 2 will be published through a press release and on the company's (www.synactpharma.com) and Sedermera Fondkommission's (www.sedermera.se) websites before the exercise period begins.

Lock-Up

All members of the Board and Management of SynAct have signed an agreement for an extension of their lock-up agreements until 19 May 2021. In total, the lock-up agreements correspond to at least 25 percent of the shares and votes in SynAct before the exercise of TO 2.  

Financial advisor, issuing agent and legal advisor

Sedermera Fondkommission is the financial advisor and issuing agent to SynAct in connection with the capitalization. Markets & Corporate Law acts as legal advisor.

This information is such information that SynAct Pharma AB is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the agency of the below contact person, for publication on 25 June, 2020.

For further information about SynAct Pharma AB, please contact:

Jeppe Øvlesen                                                                                Thomas Jonassen

CEO, SynAct Pharma AB                                                                CSO, SynAct Pharma AB

Phone: +45 28 44 75 67                                                                  Phone: +45 40 15 66 69
Mail: joo@synactpharma.com                                                         Mail: tj@synactpharma.com

About SynAct Pharma AB

SynAct Pharma AB conducts research and development in inflammatory diseases. The company has a platform technology based on a new class of drug candidates aimed at acute deterioration in chronic inflammatory diseases with the primary purpose of stimulating natural healing mechanisms.

About AP1189

SynAct Pharma's drug candidate AP1189 is a melanocortin receptor agonist on MC1 and MC3 receptors and is in clinical phase II development for the treatment of active Rheumatoid Arthritis (RA):

https://clinicaltrials.gov/ct2/show/NCT04004429?term=AP1189&draw=2&rank=1).