The subscription period in Spago Nanomedical’s rights issue begins today
NOT INTENDED FOR DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, HONG-KONG, JAPAN, CANADA, SWITZERLAND, SINGAPORE, SOUTH AFRICA OR NEW ZEALAND OR IN ANY OTHER JURISDICTION WHERE DISTRIBUTION OR PUBLICATION OF THIS PRESS RELEASE WOULD BE UNLAWFUL. THIS PRESS RELEASE DOES NOT CONSTITUTE AN OFFER OR INVITATION TO ACQUIRE OR SUBSCRIBE FOR ANY SECURITIES IN SPAGO NANOMEDICAL AB IN ANY JURISDICTION.
Today is the first day of the subscription period in Spago Nanomedical AB (publ)’s ("Spago Nanomedical" or the “Company") fully secured rights issue of units of approximately SEK 30.6 million before transaction costs (the “Rights Issue"), which was proposed by the Board of Directors on October 5, 2023, and resolved by the Extraordinary General Meeting held on October 31, 2023.
Summary of the Rights Issue
- Each existing share in the Company as of the record date on November 7, 2023, entitles the holder to seven (7) unit rights. Five (5) unit rights entitle the holder to subscribe for one (1) unit. Each unit consists of one (1) share and one (1) warrant of series TO12.
- The subscription price in the Rights Issue is set at SEK 0.24 per unit, equivalent to SEK 0.24 per new share. The warrants are issued free of charge.
- The subscription period runs from today, November 9, 2023, up to and including November 23, 2023.
- Prior of the Rights Issue, the Company has received subscription commitments and entered into guarantee commitments totaling approximately SEK 30.6 million, equivalent to 100 percent of the Rights Issue.
- The proceeds from the Rights Issue will enable, among other things, the ongoing development of Tumorad, including the inclusion of patients and the collection of initial results in the first clinical study with Tumorad in cancer patients.
For complete information about the Rights Issue, please refer to the prospectus (“Prospectus”) established by the board of directors on the occasion of the Rights Issue and which was published on November, 2023. The Prospectus, is available on the Company's, Hagberg & Aneborn Fondkommission AB's and Redeye AB's respective websites (www.spagonanomedical.se, www.hagberganeborn.se, www.redeye.se). The Prospectus is also available on the Swedish Financial Supervisory Authority's website (www.fi.se). Subscription forms are available on the Company's, Hagberg & Aneborn Fondkommission AB’s, and Redeye AB's respective websites.
Timetable for the Rights Issue
|November 9 – 20, 2023||Trading in unit rights|
|November 9 – 23, 2023||Subscription period|
|November 9, 2023 – Until the Rights Issue is registered with the Swedish Companies Registration Office||Trading in paid subscribed units (Sw. “BTU”)|
|Around November 27, 2023||Estimated publication of the outcome in the Rights Issue|
Redeye AB acts as financial advisor, and Advokatfirman Cederquist KB act as legal advisor to Spago Nanomedical in connection with the Rights Issue.