On June 28, 2024 TME Pharma N.V. (Euronext Growth Paris: ALTME), a clinical-stage biotechnology company focused on developing novel therapies for treatment of cancer by targeting the tumor microenvironment (TME), reported results of the second exercise of Warrants Z and an update on the outstanding number of ordinary shares and Warrants Z as of the settlement date taking place today (Press release, TME Pharma, JUN 28, 2024, View Source [SID1234644618]). The exercise of 513,472 Warrants Z has resulted in the issuance of 641,840 new shares for gross proceeds of €128,368, an amount similar to that generated in the first exercise period.

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In the second Warrant Z exercise period, from May 27 to June 21, 2024, holders were entitled for every 4 Warrants Z held to subscribe for 5 new shares at €0.20 per share. Following this exercise, 2,812,632 outstanding Warrants Z remain with the potential to raise an additional €703,158 if exercised in full before the end of the final exercise period on June 20, 2025.

The following numbers of TME Pharma securities are thus issued and outstanding:

ALTME ordinary shares (ISIN: NL0015000YE1): 42,183,371
Warrants Z (ISIN: NL0015001SR3): 2,812,632
The third Warrant Z exercise period will run from August 26 to September 20, 2024, with settlement on September 27, 2024. Warrants Z may be exercised through June 20, 2025, with one period of exercise per quarter (six periods of exercise in total; see "Warrant Terms and Conditions" on the TME Rights Issue page for more details). Warrants Z that have not been exercised by the end of the last exercise period will become null and void.

Additional Information

The characteristics, terms and conditions and dilution resulting from the transaction are summarized in the press releases published on November 24, 2023, November 28, 2023, and February 23, 2024, and in the dedicated Rights Issue page on the TME Pharma website.

Dilution

The table below summarizes the dilution from the new ordinary shares issued today, and the maximum additional dilutive potential for an investor who did NOT participate in the transaction should all potential Warrants Z be exercised. Shareholders who participated fully in the transaction will not be diluted by this transaction.

Description

Shares to be issued

Total shares outstanding

Dilution (cumulative)

Shareholder starting with 1% on June 27, 2024, would then hold

Outstanding shares on June 27, 2024

–

41,541,531

–

1%

Shares Issued on June 28, 2024, from exercise of 513,472 Warrants Z

641,840

42,183,371

1.52%

0.98%

Exercise of outstanding Warrant Z (latest on June 20, 2025)

3,515,790

45,699,161

9.10%

0.91%