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Press release from Companies

Published: 2019-07-12 10:34:52

Scandion Oncology: Significantly oversubscribed rights issue in Scandion Oncology

On July 9, 2019, the subscription period in Scandion Oncology A/S’s ("Scandion Oncology") rights issue of units ended. The interest in the rights issue was significant and the rights issue was subscribed to a total of approx. SEK 58.3 million (excl. guarantee commitments), corresponding to a subscription rate of approx. 199 percent. Through the rights issue, a total of 7,144,590 shares and 2,381,530 warrants of series TO 1 will be issued and Scandion Oncology will now be provided approx. SEK 29.3 million before issue costs. Settlement notes are expected to be sent out today, July 12, 2019. Sedermera Fondkommission is the financial advisor in connection with the rights issue and Markets & Corporate Law acts as the legal advisor.

CEO Nils Brünner comments:

“We are very grateful for the interest in our rights issue and I would like to thank both our existing shareholders for their trust and all interested parties who have chosen to invest in Scandion Oncology. With the capital that we are now provided through this share issue, we look forward to continuing the planned activities.

Subscription and allotment in the rights issue

The rights issue was subscribed to SEK 58,298,052 including pre-subscription commitment and excluding guarantee commitments, corresponding to a subscription rate of approx. 199 percent. 7,144,590 new shares and 2,381,530 warrants of series TO 1 will be issued and Scandion Oncology is thus now provided approx. SEK 29.3 million before issue costs, which are estimated to amount to approx. SEK 3.8 million (12.8% of the issue volume) of which approx. SEK 0.7 million refers to guarantee compensation. 2,214,691 units, corresponding to approx. 93 percent of the subscribed issue volume, were subscribed by shareholders with the support of unit rights. Due to the extensive interest, guarantee commitments are not activated. Allotment of units (shares and warrants) have been decided upon by the Board of Directors in accordance with the principles stated in the prospectus. Settlement notes are expected to be sent out today, July 12, 2019. Subscribers who are not allocated units will not receive settlement notes.

Number of shares and share capital

When the rights issue has been registered with the Danish Business Authority, the number of shares in Scandion Oncology will amount to 19,052,241 shares and the share capital will amount to DKK 1,400,339.7135.

Trading in BTU (Paid-up for units)

Trading in BTU will take place on Spotlight Stock Market until the Danish Business Authority has registered the rights issue. This registration is expected to take place late July 2019.

Disclosure notice regarding Jan Stenvang

Due to the rights issue, a requirement for a disclosure notice regarding Jan Stenvang (CSO in Scandion Oncology) occurs. As a result of dilution, Jan Stenvang’s ownership in Scandion Oncology is reduced from approx. 12.44% to approx. 7.77%.

Financial adviser, issuing agent and legal adviser

Sedermera Fondkommission is the financial advisor and issuing agent to Scandion Oncology in connection with the rights issue. Markets & Corporate Law acts as the legal advisor.

For more information regarding Scandion, please contact:

Nils Brünner, CEO

Phone: +45 26 14 47 08

E-mail: nb@scandiononcology.com 

www.scandiononcology.com

This information is information that Scandion is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on July 12, 2019.

Scandion Oncology A/S is a biotechnology company founded in 2017 for the purpose of addressing and tackling one of the greatest challenges in modern oncology – the effective treatment of cancer which contains drug resistant cells or which has developed resistance to a previously prescribed cancer-fighting drug. In preclinical animal studies, the company’s leading candidate drug, SCO-101, was found to significantly enhance the efficacy of certain standard cancer treatments when given in combination. In addition, SCO-101 restores chemotherapy sensitivity in in vitro grown resistant cancer cells. Scandion Oncology will in Q4 2019 initiate a clinical phase II study with SCO-101 in combination with chemotherapy. Scandion Oncology was listed on Spotlight, Sweden in November 2018.



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