Each warrant series 2021/2023 entitles the holder to subscribe for 1.03 new shares in WntResearch at an exercise price corresponding to seventy (70) per cent of the volume-weighted average price of the company’s share on Spotlight Stock Market.
Exercise period: 23 March 2023 – 5 April 2023
Subscription price: SEK 0.16 per share
Issue volume: 69 624 070 warrants of series TO5. Upon full utilisation, 71,712,792 shares will be issued and the Company will receive approximately SEK 11.7 million, before issue costs.
Last day for trading in warrants of series TO5: 3 April 2023.
Share capital and dilution: Upon full utilisation, the share capital will increase by SEK 6,454,151.28, from SEK 21,465,692.28 to SEK 27,919,843.56. The number of shares increases at full utilisation by 71,712,792 shares, from 238,507,692 shares to 310,220,484 shares. The dilution at full exercise amounts to approximately 23.12 per cent of the number of shares and votes in the Company.
Please note that the warrants of series TO5 that are not exercised no later than 5 April 2023, or sold no later than 3 April 2023, expire worthless. For the warrants not to expire, active subscription of shares or disposal of warrants is required. Please note that some nominees may close their application earlier than 5 April 2023.
Communication of outcome: The outcome of the exercise period is expected to be communicated around 11 April 2023.
Motivation for the warrant programme TO5: The objective of the warrants TO5 is to further finance the ongoing phase 2 study, continued clinical and regulatory development, intensified business development and continued work on positioning Foxy-5 on the market (so-called Market Access).