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Exercise period for Series TO 4 subscription warrants in Idogen begins today

21 September 2021 - 08:50

 The exercise period for subscription warrants in Series TO 4 (the “Subscription Warrants”) that were issued in conjunction with Idogen AB’s (“Idogen”, or the “Company”) preferential issue of units in the fourth quarter of 2020 begins today, September 21, 2021.

In total, Idogen issued 9,121,654 units during the fourth quarter of 2020, each consisting of one (1) share and one (1) Subscription Warrant. The exercise period of the Subscription Warrants will run from today, September 21, 2021 until October 5, 2021. Each Subscription Warrant provides entitlement to subscribe to one (1) new share in the Company at a redemption price of seventy (70) percent of the volume-weighted average price of the Company’s share during the period from September 6, 2021 through September 17, 2021, which has been set at a price of SEK 2.06 per share.

In order for the subscription warrants not to expire and lose value, they must be actively sold by October 1, 2021 at the latest or alternately exercised by October 5, 2021.

“At the same time, progress in developing the IDO 8 project for a clinical phase confirms our concept that tolerogenic dendritic cells can be used as a platform technology to treat many other difficult conditions and illnesses. Lessons from the IDO 8 project can be translated directly to the company’s subsequent IDO T project. IDO T has the potential to become a treatment for inducing tolerance against undesirable upregulation of the immune system in connection with organ transplants. We are now accelerating our development in this indication and preparing to start preclinical studies.” says Anders Karlsson, CEO of Idogen.

In the event all Subscription Warrants are exercised for subscription of shares, the Company will raise approximately MSEK 18 before issue costs. The net liquidity of approximately MSEK 17 is intended for use for the following purposes, indicated in order of priority:

  • Phase I/IIa clinical trial in IDO 8, approximately MSEK 5
  • Preclinical studies for IDO T, approximately MSEK 5
  • Business development and academic partnerships, approximately MSEK 3
  • Other operating capital reinforcement for financing operating activities, approximately MSEK 4

Terms for the Subscription Warrants:

  • The subscription price has been set to SEK 2.06 per share.
  • The subscription price has been defined as seventy (70) percent of a volume-weighted average of the price of the Company’s share during the period 6–17 September 2021. The volume-weighted average of the price for Idogen during the period amounted to SEK 2.94.
  • The exercise period runs from September 21 to October 5, 2021.
  • The issue volume is 9,121,654 Subscription Warrants. If the Subscription Warrants are fully exercised, the Company will raise approximately MSEK 18 before issue costs.
  • An announcement of the outcome is planned to October 8, 2021.
  • Conversion of interim shares into shares is planned to October 20, 2021.

Note that Subscription Warrants that have not been sold by October 1, 2021 at the latest or alternately exercised by October 5, 2021 will expire and lose their value.

Exercise of subscription warrants
Nominee shareholder Subscription Warrants
If the warrant holder has Subscription Warrants in a deposit account, in an investment savings account or endowment policy (nominee shareholder ownership), subscription and payment will take place with the administrator. The warrant holder should contact their administrator well in advance for further instructions regarding exercising of the Subscription Warrants.

Directly registered Subscription Warrants (securities account)
Registration via a registration form available on the websites of Erik Penser Bank and Idogen. Payment in accordance with the instructions on the registration form. Both registration form and payment must be submitted to Erik Penser Bank by 5:00 p.m. CET on October 5, 2021 at the latest. 

For questions concerning the Series TO 4 subscription warrants, please contact:
Erik Penser Bank AB
Phone: +46 (0)8-463 80 00
Email: [email protected]

For further information, please contact:
Anders Karlsson, CEO, Idogen AB
Phone: +46 (0) 709 18 00 10
Email: [email protected]

The information was submitted for publication, through the agency of the contact person set out above, for publication on September 21, 2021 at 08:50 CET.

Certified Adviser
The company’s Certified Adviser is Erik Penser Bank AB. Contact information: Erik Penser Bank AB, Box 7405, SE-103 91 Stockholm; phone: +46 (0)8-463 80 00, email: [email protected]

Lund, September 21, 2021
Idogen AB (publ)

Idogen (Nasdaq First North Growth Market: IDOGEN) develops tolerogenic cell therapies to prevent the patient’s immune system from attacking biological agents, transplanted organs or the body's own cells or tissue. The company’s most advanced project, IDO 8, is designed to restore the efficacy of hemophilia drugs in patients who have developed neutralizing antibodies. The company’s second project, IDO T, is being developed to prevent kidney transplant rejection. In a third program, IDO AID, Idogen is focused on the treatment of autoimmune diseases. The treatment for all indications is based on the patient's own cells and is expected to have a favorable safety profile and long-lasting effect. The potential for a short-term treatment to yield a long-term effect is a major advantage in health economics for both patients and divisions providing care

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, warrants or other securities in Idogen. An offer to the persons concerned to subscribe for units consisting of shares and warrants series TO 4 in Idogen has only been made through the prospectus that Idogen published on 12 November 2020. 

Provided by: Cision
Nasdaq First North GM Stockholm (Sweden)
Idogen AB
Idogen is a Swedish biotech company engaged in developing tolerogenic cell therapies to prevent biological drugs, transplanted or body cells or tissues from being attacked by the patient's immune system. Its product IDO 8, treats patients with severe hemorrhagic disease....
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