Today, 27 January 2022, marks the beginning of the exercise period for the warrants of series TO 1 that were issued in connection with Prostatype Genomics AB (“Prostatype Genomics” or “the Company”) issue of units during September 2020. The exercise period runs until and including 17 February 2022. Upon full exercise of all warrants, Prostatype Genomics will receive approximately SEK 42.3 million (before issue costs). The teaser is to be found on the Company’s website as well as Sedermera Corporate Finance’s website and Nordic Issuing’s website.
Information on warrants of series TO 1
In September 2020, Prostatype Genomics completed an issue of units (shares and consideration free warrants) for listing on the Nasdaq First North Growth Market. The listing issue was approximately 200% subscribed and all shares and warrants were issued.
A total of 3,885,320 warrants of series TO 1 were issued, which during the exercise period from 27 January 2022 to 17 February 2022 entitle the holder to subscribe for new shares at a price of SEK 10.90 per share. Through the exercise of the warrants, the Company can raise a total of approximately SEK 43.2 million before issue costs of approximately SEK 2.9 million. The proceeds from the warrant exercise are intended to be used to scale up the launch of Prostatype® Test System in selected European markets as well as in the US and Asia. To enable the Company's commercialization and expansion plan, Prostatype Genomics needs to secure additional sales and marketing expertise to support distributors. In order to commercially launch the Prostatype® Test System, validation and market studies are necessary in certain countries and the studies are planned to be conducted in conjunction with the introduction of the product in each market. More extensive validation studies have been conducted, or are underway, in Sweden, China, Germany and Taiwan.
27 January 2022 – the exercise period begins
15 February 2022 – the last day of trading in warrants
17 February 2022 – the exercise period ends
22 February 2022 – planned communication of outcome
7 March 2022 – planned conversion of interim shares to shares
The warrants of series TO 1 in brief
Exercise period: 27 January 2022 – 17 February 2022.
Exercise price: Holding of one (1) warrant of series TO 1 entitles to the subscription of one (1) share in Prostatype Genomics at an exercise price of SEK 10.90 per share.
Issue volume: Approximately SEK 42.3 million before transaction costs.
Last day of trading in the warrants: 15 February 2022.
Valuation (pre-money): Approximately SEK 164,5 million.
Teaser and subscription form
The teaser and subscription form are available from today, 27 January 2022, on the respective websites of Prostatype Genomics (www.prostatypegenomics.com), Sedermera Corporate Finance (www.sedermera.se) and Nordic Issuings (www.nordic-issuing.se). Full terms and conditions and further information on the exercise of the warrants are also available on the above websites.
For more information regarding the warrants of series TO 1, please contact:
Sedermera Corporate Finance
+46 (0) 40 615 14 10
+46 (0) 40 632 00 20