9 Jun, 2022

Spago Nanomedical publishes prospectus relating to the rights issue and gives update regarding the level of undertaking

Spago Nanomedical AB (publ) ("Spago Nanomedical" or the “Company") today announces that the prospectus relating to the Company's rights issue (the "Rights Issue") has been approved and registered by the Swedish Financial Supervisory Authority (the “SFSA”, sw. Finansinspektionen) (the "Prospectus"). The Company also announces that the Rights Issue of up to SEK 61.8 M before issuing costs has been secured up to 94.6 percent by an increased top guarantee undertaking.

Spago Nanomedicla carries out the Rights Issue in order to accelerate the development and start the clinical studies in cancer patients with the Company’s radionuclide therapy Tumorad (177Lu-SN201).

“We see great potential shareholder value in advancing and accelerating the development of Tumorad, given a unique treatment principle, a significant market potential and a great interest in radionuclide therapy among both pharmaceutical companies and investors. This capital raising gives us the conditions to focus fully on continuing to build value in Tumorad", said Mats Hansen, CEO of Spago Nanomedical.

Publication of the prospectus
The Prospectus that Spago Nanomedical has prepared for the upcoming Rights issue has today been approved and registered by the SFSA. The Prospectus, containing complete terms and instructions, and application forms can be obtained on Spago Nanomedical's website (www.spagonanomedical.se) and Erik Penser Bank's website (www.penser.se). The Prospectus will also be available at the SFSA's website (www.fi.se).

Spago Nanomedical has by an increased top guarantee undertaking of SEK 9.0 M secured the Rights Issue to approximately 94.6 per cent, corresponding to SEK 58.4 M. This brings the costs of the Rights Issue to increase with approximately SEK 0.1 M to approximately SEK 8.0 M, whereof guarantee remuneration amounts to approximately SEK 4.4 M. If all underwriters of the Rights Issue choose to receive their remuneration in shares, a maximum of 4,667,467 shares can be issued, corresponding to a dilution of approximately 4.8 percent calculated after the execution of the Rights Issue.

Summary of the Rights Issue

  • In the Rights Issue a maximum of 51,477,858 shares can be issued that will provide Spago Nanomedical with up to SEK 61.8 M before issue costs that are estimated to amount to approximately SEK 8.0 M, of which guarantee remuneration amounts to approximately SEK 4.4 M.
  • The subscription price per share amounts to SEK 1.20.
  • Shareholders in the Company receive one (1) subscription right for each share held on the record date. Four (4) subscription rights entitle to subscribe for five (5) new shares.
  • Preliminary time plan for the Rights Issue
    • June 9, 2022 Record date to receive subscription rights in the Rights Issue
    • June 13-22, 2022 Trading period with subscription rights
    • June 13-28, 2022 Subscription period
    • July 1, 2022 Estimated day for the publishing of the outcome in the Rights Issue

Erik Penser Bank is the financial advisor and Cederquist is the legal advisor to Spago Nanomedical in connection with the Rights Issue.