The subscription price for the exercise of warrants of series TO1 2019 in Dicot AB has been set to SEK 1.42, after adjustment of the terms
Press release: Uppsala, September 29, 2020. In accordance with what was communicated on July 8 the Board of Directors of Dicot (the “Company”), due to the rights issue of units that was carried out and heavily oversubscribed during the second quarter of 2020, resolved to adjust the terms of the warrants in accordance with the terms of the warrants of series TO1 2019 regarding subscription price and the amount of shares that a warrant entitles the owner to. The subscription price has now been adjusted to SEK 1.42 and each warrant now entitles the owner to subscription of one point eighty-four (1.84) shares.
The subscription period for the warrants of series TO1 2019 starts October 1 2020 and continues up until October 15, 2020.
Original terms for the warrants regarding subscription price and amount of shares
Each warrant, in accordance with the terms for the warrants of series TO1 2019, entitles the owner to subscribe for one (1) new share in the Company.
The subscription price for shares through the use of warrants corresponds to 70 percent of the volume weighted average price of the Company’s share on Spotlight Stock Market during the period between September 14, 2020, up until September 25, 2020, although at lowest SEK 2.60 and at most SEK 5.20. The volume weighted average price of the share during the measuring period amounted to approximately SEK 2.18, thus the discounted volume weighted average price amounted to SEK 1.53 (70 percent), thus the subscription price of the warrants is SEK 2.60.
Terms after adjustment
The Company’s Board of Directions have, in consultation with the Company’s advisors, completed an adjustment in accordance with the terms for the warrants, and have taken into consideration that the result of the adjustment will be feasible.
The result of the adjustment, and the judgement thereof, is that each warrant entitles the owner the right to subscribe to one point eighty-four (1.84) new shares in the Company. The number of shares will be rounded down to the closest whole number of shares. Hence the 7,790,823 outstanding warrants of series TO1 2019 will, at most, be used for the subscription of 14,335,114 shares.
The subscription price for shares through the use of warrants amounts to SEK 1.42. Thus Dicot may at most bring in SEK 20,355,861.88 before issuing costs, at the maximum subscription of warrants.
The last trading day for the warrants of series 1 2019 is October 13, 2020.
Note that the warrants that are not used to subscribe for new shares, or are sold in the market before October 13, 2020, or are used for subscription at latest October 15, 2020, will expire and thus lose their value. To ensure that the warrant owner’s warrants of series TO1 2019 don’t expire without value the owner has to actively subscribe for shares or sell their warrants in the market. Note that some trustees may close the subscription period prematurely.
How warrants are used:
Trustee registered warrants (Custody account)
Subscription and payment with the use of warrants shall be made in accordance with instructions from each trustee. Please contact your trustee for additional information.
Directly registered warrants (Securities account)
No accounts for issuing nor any instructions regarding payments will be sent out. Subscriptions will be made through simultaneous payment in accordance with the instructions on the application form. The warrants will then be replaced by interim shares (IS) awaiting registration at the Swedish Companies Registration Office.
For additional information, please contact:
Göran Beijer, CEO
Tel: +46 70-663 60 09
Email: [email protected]
Dicot AB in brief
Dicot is a pharmaceutical company focused on drug discovery and the development of novel lifestyle drugs to enrich patients' lives. The Company develops and manufactures medicines for the treatment of erectile dysfunction and premature ejaculation. The Company's lead drug candidate, Libiguin®, for the treatment of sexual dysfunctions, is in a stage of pre-clinical development. Dicot is listed on the Spotlight Stock Market and has approximately 1,600 shareholders. For more information see www.dicot.se.
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