ExpreS2ion’s rights issue oversubscribed
Hørsholm, Denmark, March 2nd, 2018 – ExpreS2ion Biotech Holding AB (“ExpreS2ion”) today announces that the Company’s rights issue of approximately SEK 19.2 million in order to finance investments in several parts of the core business and also to supply additional working capital for future investments in new business opportunities for both ExpreS2ion and AdaptVac, has been oversubscribed. The rights issue was subscribed to approximately SEK 30.3 million, corresponding to a subscription rate of approximately 158 percent. Through the rights issue, a total of 2,400,403 shares are issued and ExpreS2ion is provided approximately SEK 19.2 million before issuing costs. The issuing costs are calculated to amount to approximately SEK 1.3 million. Contract notes are planned to be sent out today, March 2nd, 2018.
CEO Steen Klysner comments
“I want to start by thanking all who participated in the rights issue. It is of course very gratifying to see the large interest in ExpreS2ion and our rights issue from both existing shareholders and the stock market. With the capital provided through this, we are now able to increase the pace of our progression towards a critical mass of our core activities, to secure the development of values in our current assets, as well as to enable development and investments in new assets.”
Subscription and allotment in the rights issue
The rights issue was subscribed to SEK 30,327,184.00 including subscription commitments, corresponding to a subscription rate of approximately 158 percent. A total of 2,400,403 shares are issued and ExpreS2ion is thus provided with approximately SEK 19.2 million before issuing costs, which are calculated to amount to approximately SEK 1.3 million. A total of 2,396,887 shares, corresponding to approximately 99.85 percent of the subscription rate, are allotted to subscribers with preferential rights. Please note that because of this, allotment without preferential rights, which is made in accordance with the allotment principles in the terms and conditions, is low corresponding to 0.15 percent of the total issuance volume. Those who receive shares without preferential rights will receive contract notes, which are expected to be sent out today, March 2nd, 2018. Signatories which are not allocated shares will not receive contract notes.
Shares and share capital
After the registration of the rights issue at the Companies Registration Office (“Bolagsverket”), the total number of shares in ExpreS2ion will amount to 12,002,015 shares and the share capital will amount to SEK 1,333,557.222223.
Trading in BTA
Trading in BTA (paid subscribed share) will take place on Nasdaq Stockholm First North until Bolagsverket has registered the rights issue. Registration is expected to occur in the middle of March, 2018.
Sedermera Fondkommission is appointed as Certified Adviser for ExpreS2ion.
For further information about ExpreS2ion Biotech Holding AB, please contact:
Dr. Steen Klysner, CEO
Telephone: +45 2062 9908
This press release contains information that ExpreS2ion is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on March 2nd, 2018.
ExpreS2ion Biotechnologies ApS is a fully owned Danish subsidiary of ExpreS2ion Biotech Holding AB with company register number 559033-3729. ExpreS2ion’s unique proprietary platform technology, ExpreS2, is designed to enable accelerated, cost effective development and robust production of complex proteins for new vaccines and diagnostics. Since founded in 2010, more than 250 proteins involved in e.g. malaria and Zika were produced in collaborations with research institutions and companies with a superior efficiency and success rate. ExpreS2ion also develops competitive virus-like-particle based vaccines through its joint venture AdaptVac, which was founded in 2017.