ExpreS2ion Biotech Holding AB (“ExpreS2ion” or the “Company”) today announces the outcome of the exercise of warrants of series TO5, which were issued in connection with the Company’s rights issue of units in 2020. In total, 5,310,795 warrants of series TO5 were exercised, corresponding to approximately 97.4 percent of the total number of outstanding warrants of series TO5, for subscription of 1,770,265 shares at an exercise price of SEK 25.00 per share. ExpreS2ion will receive approximately SEK 44.3 million before issuing costs through the exercise of the warrants of TO5.

Background

ExpreS2ion completed a rights issue of units in 2020. Each unit consisted of two (2) new shares, one (1) warrant free of charge of series TO4 and one (1) warrant free of charge of series TO5. The exercise price per share for the warrants of series TO5 was set to SEK 25.00. In April 2021, the warrants of series TO4 were subscribed to 97.6% and ExpreS2ion received approximately SEK 39.0 million in gross proceeds.

Outcome

In total, 5,310,795 warrants of series TO5 were exercised for subscription of 1,770,265 shares, meaning that approximately 97.4 percent of all outstanding warrants of series TO5 were exercised for subscription of shares and ExpreS2ion receives approximately SEK 44.3 million in gross proceeds.

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 3 weeks.

The press release can be found here