Warrants of series TO1 were subscribed to approximately 94.1 percent and Pharmacolog i Uppsala AB (publ) receives approximately SEK 21.4 million
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Pharmacolog i Uppsala AB (publ) (”Pharmacolog” or the ”Company”) announces today the outcome of the exercise of warrants of series TO1, which were issued during the second quarter of 2020. In total, 2,651,052 warrants of series TO1 were exercised, corresponding to approximately 94.1 percent of the total number of outstanding warrants of series TO1, for subscription of 2,651,052 shares of series B at a subscription price of SEK 8.06 per share. Pharmacolog will receive approximately SEK 21.4 million before issue costs through the exercise of the warrants of series TO1.
“It is extremely gratifying to note such a high degree of exercise of the warrants. This shows that there is a strong belief in Pharmacolog from both those who exercised warrants, as well as the Company's board and management. In the future, we will continue the work according to plan, but with the new capital injection we can carry out additional activities and investments to increase the growth rate and reach profitability more quickly.” says Mats Högberg, CEO Pharmacolog i Uppsala AB (publ).
Background The subscription period for exercise of the warrants of series TO1 took place from August 9, 2021 up to and including August 20, 2021. The subscription price per share for exercising the warrants of series TO1 was set to SEK 8.06.
In total, 2,651,052warrants of series TO1 were exercised for subscription of 2,651,052 shares of series B, meaning that approximately 94.1 percent of all outstanding warrants of series TO1 were exercised for subscription of shares.
Exercised warrants have been replaced with interim shares (IA), pending registration with the Swedish Companies Registration Office. The interim shares are expected to be converted to shares within approximately three (3) weeks.
Number of shares, share capital and dilution Through the exercise of the warrants of series TO1, the number of shares in Pharmacolog increases by 2,651,052 shares of series B, from 12,723,698 shares to a total of 15,374,750 shares. The share capital will increase by SEK 1,590,631.20, from SEK 7,634,218.80 to SEK 9,224,850.00.
For existing shareholders who did not exercise any warrants of series TO1, the dilution amounts to approximately 17.2 percent based on the number of shares following exercise of the warrants of series TO1.
Advisers Mangold Fondkommission AB is financial adviser and issuing agent and Advokatfirman Lindahl KB is legal advisor to Pharmacolog in connection with the exercise of the warrants of series T01.
For questions regarding the warrants, please contact: Mangold Fondkommission AB Tel: +46 8 5030 1595 E-mail: email@example.com
For more information regarding Pharmacolog, please contact: Mats Högberg, CEO
Tel: +46 70-546 50 21
This information is such that Pharmacolog i Uppsala AB (publ) is required to make public in accordance with the EU's Market Abuse Regulation (MAR). The information was made public by the Company's contact person above on August 24, 2021 at 2021 at 08:30 CEST.
About Pharmacolog Pharmacolog is specialized in developing systems and solutions for more effective and safer use of intravenous drugs. The company's first product, DrugLog®, enables a nurse or pharmacist to quickly and easily verify that an injectable drug has the right identity and concentration. Pharmacolog's long-term vision is an individually optimized medication for each individual patient, considering all available parameters in the control and distribution of the drug. Further information regarding the company is available at http://www.pharmacolog.com. The company's Certified Adviser is Mangold Fondkommission AB, which can be reached on telephone number
+46 8 5030 1550 or through CA@mangold.se.
Important information The release, announcement or distribution of this press release may, in certain jurisdictions, be subject to restrictions. The recipients of this press release in jurisdictions where this press release has been published or distributed shall inform themselves of and follow such restrictions. The recipient of this press release is responsible for using this press release, and the information contained herein, in accordance with applicable rules in each jurisdiction. This press release does not constitute an offer, or a solicitation of any offer, to buy or subscribe for any securities in Pharmacolog in any jurisdiction, neither from Pharmacolog nor anyone else.
This press release does not constitute or form part of an offer or solicitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of the securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South
Africa, the United States or in any other jurisdiction where such announcement, publication or distribution of the information would not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Actions taken in violation of this instruction may constitute a crime against applicable securities laws and regulations.
In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, “qualified investors” (within the meaning of the United Kingdom version of the EU Prospectus Regulation (2017/1129/ EU) which is part of United Kingdom law by virtue of the European Union (Withdrawal) Act 2018) who are (i) persons having professional experience in matters relating to investments who fall within the definition of “investment professionals” in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); or (ii) high net worth entities falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as “relevant persons”). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.
Information to distributors
Solely for the purposes of the product governance requirements contained within: (a) EU Directive 2014/65/EU on markets in financial instruments, as amended (“MiFID II”); (b) Articles 9 and 10 of Commission Delegated Directive (EU) 2017/593 supplementing MiFID II; and (c) local implementing measures (together, the “MiFID II Product Governance Requirements”), and disclaiming all and any liability, whether arising in tort, contract or otherwise, which any “manufacturer” (for the purposes of the MiFID II Product Governance Requirements) may otherwise have with respect thereto, the shares in Company have been subject to a product approval process, which has determined that such shares are: (i) compatible with an end target market of retail investors and investors who meet the criteria of professional clients and eligible counterparties, each as defined in MiFID II; and (ii) eligible for distribution through all distribution channels as are permitted by MiFID II (the “EU Target Market Assessment”). Solely for the purposes of each manufacturer's product approval process in the United Kingdom, the target market assessment in respect of the shares in the Company has led to the conclusion that: (i) the target market for such shares is only eligible counterparties, as defined in the FCA Handbook Conduct of Business Sourcebook, and professional clients, as defined in Regulation (EU) No 600/2014 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 ("UK MiFIR"); and (ii) all channels for distribution of such shares to eligible counterparties and professional clients are appropriate (the “UK Target Market Assessment” and, together with the EU Target Market Assessment, the “Target Market Assessment”) Notwithstanding the Target Market Assessment, distributors should note that: the price of the shares or warrants in Pharmacolog may decline and investors could lose all or part of their investment; the shares or warrants in Pharmacolog offer no guaranteed income and no capital protection; and an investment in the shares or warrants in Pharmacolog is compatible only with investors who do not need a guaranteed income or capital protection, who (either alone or in conjunction with an appropriate financial or other adviser) are capable of evaluating the merits and risks of such an investment and who have sufficient resources to be able to bear any losses that may result therefrom. The Target Market Assessment is without prejudice to the requirements of any contractual, legal or regulatory selling restrictions in relation to the warrants.
For the avoidance of doubt, the Target Market Assessment does not constitute: (a) an assessment of suitability or appropriateness for the purposes of MiFID II or UK MiFIR; or (b) a recommendation to any investor or group of investors to invest in, or purchase, or take any other action whatsoever with respect to the shares or warrants in Pharmacolog.
Each distributor is responsible for undertaking its own Target Market Assessment in respect of the shares or warrants in Pharmacolog and determining appropriate distribution channels.