Start of subscription period in Scandion Oncology Rights Issuance of up to approximately SEK 93.7 million

The capital increase is also open to public subscriptions.

NOT TO BROADCAST, DISTRIBUTE OR PUBLISH, DIRECTLY OR INDIRECTLY, IN OR INTO, THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SINGAPORE, SOUTH AFRICA, SOUTH KOREA, SWITZERLAND OR ANY OTHER JURISDICTION IN WHICH THE BROADCASTING, DISTRIBUTION OR PUBLICATION WOULD BE ILLEGAL OR REQUIRES REGISTRATION OR ANY OTHER ACTION.

Scandinavia Oncology (Scandion or “The Company”), a biotechnology company developing first-in-class drugs to treat cancer resistant to current treatment options, announces that the subscription period for the rights issue (the ” Rights Issue”) announced on June 1, 2022, starts today. The capital increase is also open to public subscriptions.

Summary of the capital increase

  • For one (1) share existing on the record date of June 13, 2022, shareholders will receive one (1) subscription right. Three (3) subscription rights give the right to subscribe to one (1) share.
  • The subscription price is SEK8.75 per new share, which, assuming that the capital increase is fully subscribed, results in the Company receiving issue proceeds of approximately 93.7 million Swedish crowns before transaction fees are deducted.
  • Subscription and guarantee commitments have been received from the principal owners and new investors for an amount of approximately 75 million Swedish crownscorresponding to approximately 80% of the proceeds of the issue.

For complete information on the capital increase, please consult the published prospectus.

Capital increase schedule

June 16 – June 28, 2022 Negotiation of subscription rights
June 16 – July 1, 2022 Subscription period
June 16 – until registration with the Danish Trade Authority Paid Subscription (Sw. “BTA”) Stock Trading
July 5, 2022 Estimated announcement of result of rights issue

Prospectus, terms and conditions

The prospectus, including full terms and conditions, is available with the subscription forms on the Company’s website, Hagberg & Aneborn Fondkommission AB and Redeye’s respective websites (www.scandiononcology.com, www.hagberganeborn.se, www.redeye.se).

Advisors

Red eyes AB is acting as financial advisor and Horten Advokatpartnerselskab (under Danish law) and Advokatfirman Schjødt (under Swedish law) are acting as legal advisors in connection with the rights issue. Hagberg & Aneborn Fondkommission AB acts as issuing agent in the rights issue.

For more information, please contact:

Mads KronborgExternal Communication Manager

Phone: +45 6051 4955

Email: [email protected]

The information has been provided by the above contact person for publication on June 16, 2022at 08:30 CET.

Scandinavia Oncology (Scandiated), the Cancer Drug Resistance Society, discovers and develops “first-in-class” drugs for the treatment of cancers resistant to current therapeutic options. We are at the forefront of this field, developing new drugs that address cancer’s resistance to treatment. Our goal is to make existing cancer treatments work better and longer, potentially extending and improving the lives of patients who would otherwise be at high risk of dying from their cancer.

Globally, nearly 10 million patients die from cancer each year and approximately 90% of all cancer-related deaths are due to resistance to cancer drugs. Our drugs could be relevant in several different cancers. This makes our medical and commercial potential significant.

Scandion is based in Copenhagen and its lead candidate, SCO-101, is currently being studied in Phase I and II clinical trials. The company is listed on Nasdaq First North Growth Market Sweden (ticker: SCOL).

Västra Hamnen Corporate Finance is the company’s certified advisor on the Nasdaq First North Growth Market and can be contacted at [email protected] or +46 (0) 40 200 250.

IMPORTANT INFORMATION

The information contained in this press release does not contain or constitute an offer to acquire, subscribe or exchange shares or other securities of Scandion. No action has been taken and no action will be taken to permit a public offering in jurisdictions other than Denmark and Sweden.

This press release is not a prospectus as defined in the Prospectus Regulation (EU) 2017/1129 (“Prospectus Regulation”) and has not been approved by any regulatory authority in any jurisdiction. This announcement does not identify or suggest, nor purport to identify or suggest, any risks (direct or indirect) that may be associated with an investment in shares or other securities of Scandion. A prospectus has been prepared in connection with the Capital Increase and approved by the Danish Financial Supervisory Authority (Dk. Finanstilsynet) which is the competent national authority in Denmark under the Prospectus Regulation. In order for investors to fully understand the potential risks and benefits associated with a decision to participate in the Capital Increase, any investment decision should only be made on the basis of the information contained in the prospectus. Investors are therefore encouraged to consult the prospectus in its entirety. In accordance with article 2k of the Prospectus Regulation, this press release constitutes a advertising.

The information contained in this press release may not be released, distributed or published, directly or indirectly, in or in The United States of America, Australia, Canada, hong kong, Japan, New Zealand, Singapore, South Africa, South Korea, Swiss or any other jurisdiction in which such action would be unlawful or would require registration or any other action than required by Swedish or Danish law. Actions in violation of these restrictions may constitute a violation of applicable securities laws. No share or other security in Scandinavia Oncology have been registered, and no stock or other security shall be registered, under the United States Securities Act of 1933, as amended (the “Securities Law”) or the securities laws of any state or other jurisdiction The United States of America and no shares or other securities may be offered, sold or otherwise transferred, directly or indirectly, in or to The United States of Americaexcept pursuant to an available exemption or in connection with a transaction not subject to registration requirements under the Securities Act and in accordance with the securities laws of the relevant state or any other jurisdiction of The United States of America.

Within the European Economic Area (“EEA”), no public offering of shares or other transferable securities (“Securities”) is manufactured in countries other than Denmark and Sweden. In other Member States of the EU, such an offer of Notes may only be made in accordance with the Prospectus Regulations. In other EEA Member States which have implemented the Prospectus Regulation in their national legislation, any offer of Notes may only be made in accordance with an applicable exemption in the Prospectus Regulation and/or in accordance with an applicable exemption under relevant national implementation. measure. In other EEA Member States which have not transposed the Prospectus Regulation into their national law, any offer of Notes may only be made pursuant to an applicable exemption under national law.

In the UKthis document and any other document relating to the securities described in this document are only being distributed and intended for, and any investment or investment activity to which this document relates is only available and will be engaged in with , “qualified investors” (within the meaning of UK version of the EU Prospectus Regulation (2017/1129/ EU) which is part of UK law under the European Union (Withdrawal) Act 2018) who are (i) persons with professional experience in matters relating to investments which fall within the definition of “investment professionals” in section 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”); (ii) high net worth entities, etc. falling within section 49(2)(a) to (d) of the Order; or (iii) any other person to whom such investment or investment activity may lawfully be made available under the Order (all such persons together being referred to as “Relevant Persons”). In the UK, any investment or investment activity to which this communication relates is only available and will be engaged in with relevant persons. Persons who are not relevant persons should not take any action on the basis of this press release and should not act or rely on it.

This press release may contain forward-looking statements that reflect Scandion’s current view of future events and financial and operational development. Words such as “intend”, “expect”, “anticipate”, “may”, “believe”, “plan”, “estimate” and other expressions that imply indications or predictions future developments or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve known and unknown risks and uncertainties, as they depend on future events and circumstances. Forward-looking statements are not guarantees of future results or development and actual results could differ materially from forward-looking statements.

https://news.cision.com/scandion-oncology-as/r/subscription-period-in-scandion-oncology-rights-issue-of-up-to-approximately-sek-93-7-million-commen, c3586144

https://mb.cision.com/Main/17596/3586144/1593268.pdf

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