As published through a press release on July 6, 2020, 2cureX has completed a directed issue of shares and warrants of series TO1. The board of directors of 2cureX has decided to issue warrants of series TO1 (same series as in the directed issue) to the Company, which will be distributed free of charge to current shareholders in 2cureX. The warrants will, to some extent, compensate shareholders in the Company for the dilution caused by the directed issue.
The record date to receive warrants of series TO1 has been set to July 17, 2020. Therefore, the last day of trading in the Company’s share including the right to receive warrants is July 15, 2020, and the first day of trading in the Company’s share excluding the right to receive warrants is July 16, 2020.
For every ten (10) owned shares in the Company on the record date, one (1) warrant of series TO1 will be received. A maximum of 1 242 000 warrants of series TO1 will be issued and delivered to current shareholders in 2cureX.
Terms and information regarding warrants of series TO1
Each warrant of series TO1 will give the holder the right to subscribe for one (1) new share in 2cureX at a subscription price corresponding to 70 per cent of the average volume-weighted share price according to Nasdaq First North Growth Market’s official price statistics during the period from April 9, 2021 to April 22, 2021. However, the subscription price shall not exceed SEK 28.88 per new share, and not be less than the quota value of the Company’s share. The exercise period to subscribe for new shares with warrants from series TO1 will be from April 26, 2021 to May 7, 2021.
Warrants of series TO1 will, upon full exercise, allow the Company to raise up to a maximum of approximately SEK 70.90 million, depending on the subscription price.
Upon full exercise of the warrants of series TO1, the dilution will amount to a maximum of approximately 14.19 per cent, in proportion to the number of shares after the registration of the directed issue.
The Company intends to apply for admission to trading of the warrant of series TO1 on Nasdaq First North Growth Market as soon as it is possible after the registration of the directed issue and the allotment to current shareholders have been completed.
Mangold Fondkommission AB is acting as sole bookrunner and financial adviser and Eversheds Sutherland Advokatbyrå AB is legal adviser in connection with the transaction.
N.B. This English text is an unofficial translation of the Swedish original of the press release, and in case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.
Malmö in July 2020
2cureX AB; The Board of directors
For more information about 2cureX:
Ole Thastrup, Chief Executive Officer
Telephone: +45 22 11 53 99
Telephone: +46 8 121 576 90
2cureX has developed the IndiTreat® (Individual Treatment) test. IndiTreat® establishes thousands of 3D micro-tumors that are similar to the patient’s tumor and identifies the treatment that most effectively kills the patient’s tumor. Immediately after the test, the patient can be offered the selected treatment.
IndiTreat® is being clinically validated in clinical studies in colorectal cancer, ovarian cancer, pancreatic cancer and preventive cancer medicine. The clinical programs are conducted at major cancer hospitals in Denmark, Germany and United Kingdom.
IndiTreat® is presently being introduced into the European market through an Early Access Program.
The aspiration is that IndiTreat® becomes a standard tool in Precision Medicine for cancer patients.
The company is listed at the Nasdaq First North Growth Market in Stockholm (symbol: “2CUREX”).