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March 1, 2021

Spago Nanomedical's rights issue was subscribed 152%

The rights issue in Spago Nanomedical AB (publ) ("Spago Nanomedical" or "the Company") was subscribed for at 152 percent and guarantee agreements entered into will thus not be used. With the high subscription rate, the Company also carries out an over-allotment issue of approximately SEK 10 million with the support of authorization from the Extraordinary General Meeting on January 15, 2021. Through the two issues, the Company will receive a total of approximately SEK 69.1 million before deductions for issue costs totaling approximately SEK 8 million.

The Rights Issue in Spago Nanomedical AB (publ) ("Spago Nanomedical" or the "Company") was subscribed for 152 percent and guarantee agreements entered will therefore not be used. With the high subscription rate, the Company also carries out an over-allotment issue of approximately SEK 10 million with the support of authorization from the Extraordinary General Meeting on January 15, 2021. Through the two issues, the Company will receive a total of approximately SEK 69.1 million before deduction of issue costs totalling approximately SEK 8 million.

"I am pleased with the confidence shown by existing and new owners in the Company and our projects. Now we can forcefully drive the Tumorad® project to clinical phase while completing the clinical trial with SpagoPix", says CEO Mats Hansen.

In total, subscription notifications for subscription with and without preferential rights have been received of 12,012,348 shares, corresponding to a subscription rate in the rights issue of approximately 152 percent. The total at the end of the subscription period shows that 6,564,877 shares, corresponding to approximately 83 percent of the rights issue, were subscribed for with subscription rights. In addition, notifications corresponding to 5,447,471 shares have been received for subscription without subscription rights, of which 1,321,252 shares, corresponding to approximately 17 percent of the rights issue, have been allotted.

The Rights Issue was 100 percent covered by subscription commitments and guarantee commitments, but the guarantee commitments will not be exercised due to the high subscription rate. In accordance with the principles set out in the prospectus, the Board of Directors has allotted all the shares offered in the rights issue. Through the rights issue, Spago Nanomedical will receive approximately SEK 59.1 million before deduction of issue costs. Through the rights issue, the Company's share capital increases by SEK 7,886,129, from SEK 31,544,517 to approximately SEK39,430,646, through a new issue of 7,886,129 shares.

Due to the high subscription rate, the Company's Board of Directors has, with the support of authorization from the Extraordinary General Meeting on January 15, 2021, resolved on an over-allotment issue that will provide the Company with an additional approximately SEK 10 million before deduction of issue costs. Through the allotment issue, the Company's share capital increases by SEK 1,333,334, from SEK 39,430,646 to SEK 40,763,980,through a new issue of 1,333,334 shares. The Board of Directors has allotted all shares in the over-allotment issue to persons who subscribed for shares in the rights issue but who have not received full allotment of shares. The allotment has been made on the basis of broadening the shareholder base with certain strategically important investors for the Company's continued development and in addition to allocating in accordance with the allotment principles of the Rights Issue. The subscription price in the over-allotment issue is SEK 7.50 per share, which corresponds to the issue price in the rights issue and is therefore considered market-based. The reason for the deviation from the shareholders' preferential rights is to satisfy the greater demand at the rights issue end originally assessed, and to further broaden the shareholder base in the Company with strategic investors.

Those who have been allotted shares without subscription rights in the rights issue and/or in the over-allotment issue are notified of this by sending a separate sales note. Settlement shall be paid no later than three business days after the issue of the sales note. If this does not happen, allotted shares may be transferred to someone else. Notice is not sent to those who have not received allocation. Those who subscribed for shares without subscription rights through their trustee will be notified of allotment in accordance with their trustee's procedures.

Once the rights issue and the over-allotment issue have been registered with the Swedish Companies Registration Office, the total number of shares in Spago Nanomedical will amount to 40,763,980 shares and the share capital will amount to 40,763,980.

Those who subscribed for shares in the rights issue will receive BTA (paid subscribed share). After the rights issue has been registered with the Swedish Companies Registration Office, BTA will be rebooked into shares, which is expected to take place around week 11, 2021. Until then, BTA is traded on Spotlight Stock Market.

Read the full press release här.

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