WntResearch’s warrants of series 2020/2021 were subscribed to approximately 78 percent – receives approximately SEK 8 million
WntResearch AB ("WntResearch" or the “Company") today announces the outcome of the exercise of the warrants of series 2020/2021. In total, 9,836,359 warrants, corresponding to approximately 78 percent of the outstanding warrants, were exercised for subscription of 9,836,359 shares at the subscription price of SEK 0.81 per share. Through the exercise of the warrants, WntResearch receives approximately SEK 8 million before issue costs.
During the second quarter of 2020, WntResearch carried out a rights issue of so-called units in which one (1) unit consisted of two (2) new issued shares and one (1) warrant of series 2020/2021, issued free of charge. Those who subscribed for units during the subscription period from and including April 24, 2020 to and including May 8, 2020 thus received one (1) warrant of series 2020/2021, per subscribed unit in the rights issue. The exercise period for the warrants lasted during the period from and including February 8, 2021 to and including February 19, 2021. In accordance with the terms and conditions of the warrants, the subscription price for subscription of shares in WntResearch was set at SEK 0.81 per share.
The outcome shows that a total of 9,836,359 warrants, corresponding to approximately 78 percent of the outstanding warrants, were exercised for subscription of 9,836,359 shares. Through the exercise of the warrants, WntResearch thus receives approximately SEK 8 million before issue costs, which amount to approximately SEK 0.4 million.
Exercised warrants have been replaced with interim shares (IA) pending registration with the Swedish Companies Registration Office (Sw. Bolagsverket). The conversion of interim shares into shares is expected to take place within approximately three weeks. Through the exercise of the warrants, the total number of outstanding shares in WntResearch increases with 9,836,359 to 62,661,667 shares. Accordingly, the share capital increases with SEK 885,272.31 to SEK 5,639,550.03.
“We are very pleased with the outcome and humbled by the great confidence this indicates for the revised business plan recently launched by the company. We have previously secured investors to carry out a rights issue of approximately SEK 55 million and are now further strengthening the Company's capital base, which creates an opportunity to intensify the development of our drug candidate Foxy-5 ”.
Mangold Fondkommission AB is the financial adviser and Setterwalls Advokatbyrå AB is the legal adviser to WntResearch regarding the warrants.
This disclosure contains information that WntResearch is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 23-02-2021 17:30 CET.Anders Rabbe
Tel: +46 707 646 500
WntResearch is a research and development company in oncology that develops new treatments intended to inhibit metastasis formation in cancers. The Company focuses on WNT5A, a protein that suppresses the metastatic process in the body; the vision is for cancer patients to no longer have to endure metastasis. Today, one in every three people will develop cancer during their lifetimes, and 90 percent of all cancer-related deaths are caused by metastases. Even though cancer treatment has become more effective, there are no effective methods to prevent the formation of metastasis.
The drug candidate Foxy-5 mimics WNT5A' s ability to reduce the mobility and thus the spread of cancer cells. Foxy-5 has demonstrated a good safety profile with few adverse effects in two clinical phase I studies. An ongoing clinical phase II study NeoFox is currently being conducted on patients with colon cancer with the Company's drug candidate Foxy-5. According to the Company's assessment, Foxy-5 is the only drug candidate of its kind, with a unique mode of action in an area where other drug or treatment options are lacking. WntResearch's share is listed on Spotlight Stock Market. For more information, please visit: www.wntresearch.com.
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