Four (4) shares of
The Council of
The preclinical regulatory studies necessary to initiate the clinical development of Tumorad have been completed. The Company recently showed that the drug candidate 177Lu-SN201 significantly inhibits tumor growth and prolongs survival in a preclinical model of colorectal cancer. Interim data from the phase I study with the SpagoPix diagnostic project (SN132D) also show that the Company’s functional nanomaterials accumulate in tumors, which is an important step towards validation of the technological platform in patients. ‘man. In the Tumorad pharmaceutical project, the technology platform is used to precisely treat several types of aggressive and widespread cancers.
The capital increase aims to finance the start of the phase I/IIa clinical study with 177Lu-SN201, the launch of which is planned for 2022. The Company’s cash flow is estimated to be secured by the capital increase until at the beginning of 2024.
“We see great potential shareholder value in advancing and accelerating the development of Tumorad, given a unique treatment principle, significant market potential and strong interest in radionuclide therapy among pharmaceutical companies and investors. This fundraising gives us the conditions to fully focus on the continued development of Tumorad,” said
Summary of the capital increase
- Under the rights issue, a maximum of 51,477,858 shares may be issued, which will provide
Spago Nanomedical with up to61.8 million Swedish crowns before issue costs estimated at7.9 million Swedish crowns whose guarantee remuneration amounts to4.3 million Swedish crowns . - The subscription price per share amounts to
SEK1.20 . - The record date for receiving the subscription rights in the Capital Increase is
June 9, 2022 . - Shareholders of the Company receive one (1) subscription right for each share held on the record date. Four (4) subscription rights give the right to subscribe to five (5) new shares.
- The subscription period runs from
June 13, 2022 atJune 28, 2022 . The Board has the right to extend the subscription period. - The subscription of shares with maintenance of the subscription right will be made by simultaneous payment in cash. Subscription to shares without maintenance of the subscription right is made on a separate subscription list and the allocated shares are paid up in cash no later than three working days after the allocation notice has been sent to the subscriber. The Board has the right to extend the payment deadline.
- Shares subscribed without the support of the subscription right are allocated first to persons who have also subscribed to shares with subscription rights, secondly to other investors who have subscribed for shares without the support of the subscription right and thirdly to guarantors.
Subscription commitments and guarantee commitments
The Capital Increase is guaranteed by at least 93.8% of the subscription commitments and guarantee commitments, of which the subscription commitments correspond to approximately 30.8% of the Capital Increase, the guarantee commitments to approximately 49 .2% of the Capital Increase and the main guarantee commitments at at least approximately 13.8%. percent of the rights issue, calculated from approximately 80.0% to approximately 93.8% of the rights issue. The Company will seek additional senior collateral commitments prior to the rights issue being completed with the ambition of securing the rights issue up to 100%.
Subscription commitments have been received by the main shareholders of the Company, such as
Collateral commitments for a total of 80% of the rights issue were provided by external investors. For guarantee commitments, a guarantee remuneration of ten (10) percent of the amount subscribed is paid in cash, alternately with fourteen (14) percent of the amount subscribed in new shares of the Company. Guarantee commitments that exceed 80% of the amount of the rights issue (the main guarantee commitments) have been made, among others, by the main shareholders
The subscription commitments and the guarantee commitments are not guaranteed by a bank guarantee, blocked funds, pledges or similar arrangements.
Further information regarding the parties having subscribed to guarantee commitments will be available in the prospectus which will be published before the start of the subscription period.
The issue costs for the capital increase amount to approximately
Actions and Dilution
As part of the Capital Increase, the number of shares and the share capital
If all subscribers, up to 63.0% of the rights issue, which is the lowest proportion covered by guarantee commitments today (of which 49.2% constitute guarantee commitments and 13.8 % constitute superior guarantee commitments), choose to receive only newly issued shares as guarantee remuneration, a maximum of 4,611,217 new shares can be issued under the directed issue corresponding to a dilution of approximately 4 .7% based on the number of shares of the Company after completion of the Capital Increase (based on full subscription to the Capital Increase). If additional higher guarantee commitments were to be made, so that the capital increase is fully covered by guarantee commitments, and all subscribers choose to receive only newly issued shares as remuneration for the guarantee, a maximum of 5,086,802 new shares could be issued under the managed issue corresponding to a dilution of approximately 5.2% based on the number of shares of the Company after the completion of the Rights Issue (based on full subscription to the Rights Issue).
Preliminary schedule of the Capital Increase
Publish
The complete terms and conditions of the Capital Increase and other information about the Company will be available in the prospectus published before the start of the subscription period and which will be available on the respective websites of the Company and Erik Penser Bank (www.spagonanomedical.se and www .penser.se).
Advisors
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