On December 15, 2020 Scandion Oncology A/S ("Scandion" or the "Company") reported that the result of its rights issue (the "Rights Issue"), where the subscription period ended on December 10, 2020, shows that 3,600,363 shares, corresponding to approximately 34 percent of the shares offered, were subscribed for by exercise of subscription rights (Press release, Scandion Oncology, DEC 15, 2020, View Source,c3254864 [SID1234574542]). Additionally, 1,634,048 shares, corresponding to approximately 15 percent of the Right Issue, were subscribed for without use of subscription rights, of which 1,318,505 shares, corresponding to 12 percent of the Rights Issue, were subscribed for by external professional investors. The remaining part of the Rights Issue, corresponding to 5,477,437 shares or approximately 51 percent, were subscribed for by the guarantors. The Rights Issue is therefore fully subscribed and provides Scandion with proceeds amounting to approximately SEK 236 million before issue costs.
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3,600,363 shares, corresponding to 34 percent of the Rights Issue, were subscribed for using subscription rights.
1,318,505 shares, corresponding to approximately 12 percent of the Rights Issue, were subscribed for by external professional investors.
315,543 shares, corresponding to approximately 3 percent of the Rights Issue, were subscribed for by existing shareholders and others without subscription rights.
The remaining part of the Rights Issue, corresponding to 5,477,437 shares or approximately 51 percent, were subscribed for by the guarantors.
Approximately 1.3 percent of the Rights Issue, corresponding to approximately SEK 3 million, were subscribed for by certain members of the board of directors and the management.
"I am extremely pleased to embrace the capitalization of Scandion Oncology and the strong support from our existing and new shareholders. This capital raise is a defining moment for us in our journey to make a difference for the many patients with drug resistant cancers. With this amount of new funding we are poised to deliver strong validating data for our first in class lead candidate SCO-101 and it gives Scandion Oncology the opportunity to implement our strategy to become the cancer drug resistance company" says Bo Rode Hansen, President & CEO of Scandion Oncology A/S.
Allocation of shares subscribed for without using subscription rights has been done in accordance with the principles stated in the prospectus published on 24 November 2020. Notice of allotment is made through a settlement note sent to the respective subscribers. Payment for allotted shares must be made in accordance with the instructions in the settlement note.
Following settlement and registration of the new shares with the Danish Business Authority, the Company’s share capital will increase by DKK 787,320.8280 to a total of DKK 2,361,962.4840. The number of shares in the Company will increase by 10,711,848 shares to a total of 32,135,544 shares.
Following settlement, trading in paid subscribed shares (BTA) takes place on the Spotlight Stock Market until the BTAs have been converted to ordinary shares, following registration of the new shares with the Danish Business Authority, which is expected to take place during week 52, 2020, at which point the temporary ISIN code for the BTAs will be merged with the permanent ISIN code for the Company’s shares.
Advisors
Vator Securities is financial adviser and Advokatfirman Schjødt (as to Swedish law) and Plesner Advokatpartnerselskab (as to Danish law) are legal advisers to the Company in connection with the Rights Issue.