On July 4, 2022 Scandion Oncology ("Scandion" or the "Company"), a biotech company developing first-in-class medicines aimed at treating cancer which is resistant to current treatment options, reported the final outcome of its rights issue of shares of up to SEK 93.7 million (the "Rights Issue"), for which the subscription period ended July 1, 2022 (Press release, Scandion Oncology, JUL 4, 2022, View Source,c3596448 [SID1234616457]). Shares corresponding to approximately 80% of the Rights Issue were subscribed for, including subscriptions by guarantors. Through the Rights Issue, Scandion raises approximately SEK 75 million before deduction of issue related costs.
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Final outcome
The Rights Issue comprised a maximum of 10,711,848 ordinary shares. The final outcome of Scandion’s Rights Issue of shares shows that 1,396,886 shares, corresponding to approx. 13% of the Rights Issue, has been subscribed for by exercise of subscription rights (incl. subscription undertakings). Additionally, 55,750 shares, corresponding to approx. 0,5% of the Rights Issue, were subscribed for without preferential rights. 7,118,792 shares, corresponding to approx. 66.5% of the Rights Issue, were subscribed for by guarantors. Through the Rights Issue, Scandion raises approx. SEK 75 million before deduction of issue related costs.
Notification regarding allocation
Allocation of shares has been made according to the principles described in the prospectus which was published in conjunction with the Rights Issue. Subscribers who are allocated shares subscribed for without preferential rights will receive an allocation notice in the form of a settlement note. Payment for such shares is to be made according to the instructions on the settlement note.
Number of shares and share capital
When the Rights Issue has been registered with the Danish Business Authority, the total number of shares in Scandion will amount to 40,706,972 shares and the share capital amount to DKK 2,991,962.4420.
Trading in BTA
Trading in BTA (paid subscribed shares) is currently conducted on Nasdaq First North Growth Market Stockholm, which will cease once the issue has been registered with the Danish Business Authority. BTA’s will subsequently be converted into ordinary shares.
Advisers
Redeye AB acts as financial adviser and Horten Advokatpartnerselskab (as to Danish law) and Advokatfirman Schjødt (as to Swedish law) act as legal advisers in connection with the Rights Issue. Hagberg & Aneborn Fondkommission AB acts as the issuing agent in the Rights Issue.