FRI, OCT 02, 2020 17:41 CET
As previously announced, the Board of Directors of Cereno Scientific AB (”Cereno” or the ”Company”) has decided to distribute warrants of series TO1 and TO2 free of charge to shareholders in the Company. The subscription period to subscribe for new shares of series B with conversion of warrants from series TO1 will be from 15 September 2021 until and including 29 September 2021. The subscription period to subscribe for new shares of series B with conversion of warrants of TO2 will be from 14 September 2022 until and including 28 September 2022.
As previously announced through a press release on September 30, 2020, Cereno resolved on and carried out a directed issue of units consisting of shares of series B and warrants of series TO1 and TO2 (the “Directed Issue”). The Directed Issue was targeted to a limited group of qualified investors. In connection with the Directed Issue, the Company also entered into a loan financing agreement of SEK 10 million (the ”Loan”) with Formue Nord Fokus A/S (”the Lender”). The Lender will as part of the market term agreement receive warrants of series TO1 and TO2 respectively. In order to provide current shareholders with the opportunity to be compensated for the dilution that arise from the Directed Issue, including the warrants allotted to the Lender, the Board of Directors of Cereno has also decided to issue an additional 16,087,724 warrants of series TO1 and 16,087,724 warrants of series TO2 (i.e. the same series as in the Directed Issue and the Loan) to the Company. The Company will, on the record date, allocate the additional warrants free of charge to current shareholders in the Company.
The record date to receive warrants of series TO1 and TO2 has been set for October 9, 2020. Therefore, the last day of trading in the Company’s share including the right to receive warrants is October 7, 2020, and the first day of trading in the Company’s share excluding the right to receive warrants of TO1 and TO2 respectively is October 8, 2020.
The shareholders in Cereno will receive two (2) warrants of series TO1 and two (2) warrants of series TO2 for every five (5) held shares (regardless of share class) on the record date. Round down will be applied.
Additional information regarding the terms of the warrants of series TO1 and TO2 as well as additional information about the Directed Issue, the Loan and the allocation of warrants to current shareholders is included in the press release dated September 30, 2020.
The Company will apply for admission to trading of the warrants of series TO1 and TO2 on Spotlight Stock Market as soon as it is possible after the registration of the Directed Issue and the allotment to current shareholders and the Lender has been completed.
Advisers
Mangold Fondkommission AB has acted as sole bookrunner and financial adviser and MAQS Advokatbyrå AB has acted as legal adviser in connection with the Directed Issue, the Loan and the allocation of warrants to current shareholders.
For more information about Cereno:
Daniel Brodén, CFO
E-mail: info@cerenoscientific.com
Telephone: +46 768 66 77 87
www.cerenoscientific.se
About Cereno Scientific AB
Cereno Scientific is a leading clinical stage biotech company within cardiovascular epigenetic modulation. The lead drug candidate, CS1, is a Phase II candidate in development for the treatment of the rare disease pulmonary arterial hypertension (PAH) and thrombotic indications. CS1 is an HDAC (Histone DeACetylase) inhibitor that acts as an epigenetic modulator with anti-thrombotic, anti-inflammatory, anti-fibrotic and pressure-relieving properties. A clinical phase II study program for CS1 in PAH is planned to start during spring 2021 under its US FDA granted orphan drug designation (ODD) status. In addition, Cereno has a preclinical HDAC inhibitor development program targeted at treating cardiovascular diseases. The company is headquartered in AstraZeneca’s BioVenture Hub, Sweden, and has an office in Kendall Square in Boston, Massachusetts, US. Cereno is listed on the Swedish stock market Spotlight, ticker: CRNO B, ISIN SE0008241558. More information on www.cerenoscientific.com.
