Warrants of series TO1 were subscribed to approximately 96.75 percent and 2cureX AB receives approximately SEK 31.40 million.
2cureX AB (”2cureX” or the ”Company”) today announces the outcome of the exercise of warrants of series TO1, which were issued in connection with the Company’s directed issue during the third quarter of 2020. In total, 2,375,316 warrants of series TO1 were exercised, corresponding to approximately 96.75 percent of the total number of outstanding warrants of series TO1, for subscription of 2,375,316 shares at a subscription price of SEK 13.22 per share. 2cureX will receive approximately SEK 31.40 million before issuing costs through the exercise of the warrants of series TO1.
The subscription period for exercise of the warrants of series TO1 took place from April 26, 2021 up to and including May 7, 2021. The subscription price per share for exercising the warrants of series TO1 was set to SEK 13.22.
In total, 2,375,316 warrants of series TO1 were exercised for subscription of 2,375,316 shares, meaning that approximately 96.75 percent of all outstanding warrants of series TO1 were exercised for subscription of shares.
Exercised warrants have been replaced with interim shares (IA), pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted to shares within approximately three (3) weeks.
Number of shares, share capital and dilution
Through the exercise of the warrants of series TO1, the number of shares in 2cureX increases by 2,375,316 shares, from 14,912,200 to a total of 17,287,516 shares. The share capital will increase by SEK 237,531.60, from SEK 1,491,220.00 to SEK 1,728,751.60.
For existing shareholders who did not exercise any warrants of series TO1, the dilution amounts to approximately 13.74 percent based on the number of shares following exercise of the warrants of series TO1.
Mangold Fondkommission AB is financial adviser and Eversheds Sutherland Advokatbyrå AB is legal advisor to 2cureX regarding the warrants.
For questions regarding the warrants, please contact:
Mangold Fondkommission AB
Tel: +46 8 5030 1595
For more information regarding 2cureX, please contact:
Chief Executive Officer
Tel: +45 22 79 53 99
Phone: +46 8 121 576 90
This information is such that 2cureX AB is required to make public in accordance with the EU's Market Abuse Regulation (MAR). The information was made public by the Company's contact person above on May 11, 2021 at 16:30 CEST.
2cureX has developed the IndiTreat® (Individual Treatment) test. IndiTreat® establishes thousands of 3D microtumors that functionally resemble the patient's tumor and identifies the approved cancer treatment that most effectively kills the patient's tumor. Immediately after the test, the patient is given the selected treatment.
The first IndiTreat® product in metastatic colorectal cancer is introduced to the European market. Subsequent products help patients at different stages of colorectal cancer and other solid cancers.
The company is listed on Nasdaq First North Growth Market in Stockholm (symbol: "2CUREX"). For more information about 2cureX visit www.2cureX.com.
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Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Company have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “EU Target Market Assessment”). Solely for the purposes of each manufacturer's product approval process in the United Kingdom, the target market assessment in respect of the shares in the Company has led to the conclusion that: (i) the target market for such shares is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); and (ii) all channels for distribution of such shares to eligible counterparties and professional clients are appropriate (the “UK Target Market Assessment” and, together with the EU Target Market Assessment, the “Target Market Assessment”) Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares or warrants in 2cureX may decline and investors could lose all or part of their investment; the shares or warrants in 2cureX offer no guaranteed income and no capital protection; and an investment in the shares or warrants in 2cureX is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the preferential rights issue.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II or UK MiFIR; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares or warrants in 2cureX.
Each distributor is responsible for undertaking its own Target Market Assessment in respect of the shares or warrants in 2cureX and determining appropriate distribution channels.