DexTech Medical AB announces outcome of finalized rights issue
27 December, 2021
The subscription period of the rights issue of shares in DexTech Medical AB (“DexTech” or the “Company”), where also the public was able to subscribe for shares, ended on the 22nd of December 2021. The rights issue was subscribed to a total of approximately 80 percent by existing shareholders, the public, and guarantors. Thus, DexTech is provided approximately SEK 46.35 million before deduction of transaction-related costs. The issue proceeds will enable the Company to perform a clinical study regarding the drug candidate OsteoDex’s effect on Multiple Myeloma – something the Board of Directors considers to further increase the value of the Company. Settlement notes are planned to be sent out today, the 27th of December 2021.
Subscription and allotment
The rights issue was subscribed to a total of approximately SEK 46.35 million, including pre-subscription commitment of approximately SEK 0.25 million and activated guarantee commitment of approximately SEK 36 million, corresponding to a subscription of approximately 80 percent. In total, 3,565,379 new shares are issued through the rights issue. DexTech is hence provided approximately SEK 46.35 million before deduction of transaction-related costs of approximately SEK 8.8 million (including guarantee compensation of approximately SEK 4.7 million). In total, 551,184 shares (corresponding to approximately SEK 7.2 million) were subscribed with support from subscription rights, including a pre-subscription commitment of approximately SEK 0.25 million. Allocation of shares has been made in accordance with the allocation principles described in the prospectus that was published by the Company in connection with the rights issue. Settlement notes are expected to be sent out today, 27th of December 2021, to those who have been allocated shares without preferential rights. Allocated shares subscribed for without preferential rights shall be paid for in accordance with the instructions in the settlement note.
Number of shares and share capital
Once the rights issue is registered with the Companies Registration Office, the total number of shares in DexTech will amount to 18,485,857 and the share capital will amount to SEK 831,863.565. The rights issue entails a dilution of approximately 19 percent for shareholders who did not participate in the rights issue.
Trading in BTA
Trading in BTA (paid subscribed share) will take place on Spotlight Stock Market until the rights issue is registered with the Companies Registration Office. The registration is estimated to take place in the middle of January 2022.
Advisors
In connection with the rights issue, Sedermera Fondkommission has been the financial advisor, Markets & Corporate Law Nordic AB has been the legal advisor, and Nordic Issuing has been the issuing agent. Shark Communication AB has been the Company’s advisor regarding communication.
For further information about the rights issue, please contact:
Sedermera Fondkommission
Phone: +46 40 615 14 10
E-mail: info@sedermera.se
www.sedermera.se
For further information about DexTech, please contact:
Gösta Lundgren – CFO
DexTech Medical AB
Phone: +46 (0) 707104788
E-mail: gosta.lundgren@dextechmedical.com
This information is such information that DexTech Medical AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, through the agency of the contact person set out above, for publication on 27 December 2021.
DexTech Medical AB is a Swedish research company that, based on its technology platform, has developed four drug candidates that are protected by patents. The main candidate is OsteoDex for the treatment of castration-resistant prostate cancer (CRPC) with skeletal metastases. A successful Phase II clinical trial has been conducted with OsteoDex where the result shows high tolerability with mild side effects as well as treatment effect on patients who fail on existing drugs. DexTech’s goal is to license the respective drug candidate by the latest phase II study. DexTech Medical AB is listed on Spotlight Stock Market.
211227 PM – DexTech announces outcome of finalized rights issue