The subscription price for the exercise of warrants of series TO3 in Pharmacolog has been set at SEK 0.054 per share
NOT FOR RELEASE, PUBLICATION, OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES, AUSTRALIA, BELARUS, HONG KONG, JAPAN, CANADA, NEW ZEALAND, RUSSIA, SWITZERLAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, OR IN ANY OTHER JURISDICTION WHERE THE DISTRIBUTION OF THIS PRESS RELEASE WOULD BE UNLAWFUL OR WOULD REQUIRE ACTION OTHER THAN THAT REQUIRED BY SWEDISH LAW.
Pharmacolog in Uppsala AB (“Pharmacolog” or “the Company”) completed a rights issue of units on the Nasdaq First North Growth Market in July 2023. Each unit consisted of four (4) series B shares and four (4) warrants of series TO3. Each warrant of series TO3 entitles the holder to subscribe for one (1) new series B share in the Company against cash payment corresponding to 70 per cent of the volume-weighted average price of the Company’s share on the Nasdaq First North Growth Market during the measurement period from January 25, 2024, to February 7, 2024, however, not lower than the quota-value of the Company’s share and not higher than SEK 0.53. The volume-weighted average price of the Company’s share during the measurement period was approximately SEK 0.078, resulting in the subscription price being set at SEK 0.054. The invested amount must be rounded up to two decimal places. The exercise period for warrants of series TO3 runs from February 9, 2024, to February 23, 2024.
Summarized terms for the warrants of series TO3:
Exercise period: February 9, 2024 – February 23, 2024.
Issue volume: 46,739,208 warrants of series TO3 entitle the subscription of 46,739,208 series B shares. At full exercise, the Company receives approximately SEK 2.5 million before issue costs.
Subscription price: SEK 0.054 per share.
Last day of trading with warrants of series TO3: February 20, 2024.
Share capital and dilution: At full exercise of the warrants of series TO3, the share capital increases by SEK 467,392.08, from SEK 662,503.42 to SEK 1,129,895.50. The number of shares increases at full exercise by 46,739,208 shares series B, from 66,250,342 shares to 112,989,550 shares. Dilution at full exercise amounts to approximately 41.37 percent of the existing number of shares and votes in the Company.
Please be advised: The invested amount must be rounded up to two decimal places.
Please note that the warrants not exercised by February 23, 2024, or disposed no later than February 20, 2024, will expire worthless. To prevent the expiration of the warrants, active subscription of shares or disposal of the warrants is required.
How the warrants are exercised:
Nominee-registered warrants (Custody account)
Subscription and payment by exercise of warrant shall be made in accordance with instructions from the respective nominee. Please contact your nominee for further information.
Direct-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 awaiting registration by the Swedish Companies Registration Office.
Mangold Fondkommission AB is the financial advisor to Pharmacolog in connection with the exercise of the warrants. Eversheds Sutherland Advokatbyrå AB is the legal advisor to the Company in connection with the exercise of the warrants.
Pharmacolog provides solutions and products that enhance work efficiency and safety when preparing injectable medication. Our goal is to help prevent medication errors and ensure maximum medication efficacy when treating patients with powerful yet potentially harmful injectable drugs. Pharmacolog’s products help staff at pharmacies and hospital wards minimize the risk of errors in the compounding process. Furthermore, by verifying that drugs and narcotics used in surgery have not been tampered with, our solutions also make a vital contribution to preventing drug diversion.
The company's Certified Adviser is Mangold Fondkommission AB.
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This press release does not constitute an offer to sell or an invitation to acquire or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States without registration or without applying an exemption from registration under the then-applicable U.S. Securities Act of 1933 ("Securities Act"), and may not be offered or sold in the United States without registration or an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities mentioned herein in the United States or to conduct a public offering of such securities in the United States. The information in this press release may not be published, disclosed, copied, reproduced, or distributed, directly or indirectly, in whole or in part, in or to Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, South Africa, the United States, Belarus, Russia, or any other jurisdiction where such publication, disclosure, or distribution of this information would be in violation of applicable rules or where such action is subject to legal restrictions or would require further registration or other measures than those required by Swedish law. Actions contrary to this instruction may constitute a violation of applicable securities laws.