Curasight A/S receives approval for listing and publishes prospectus
September 2, 2020
Today, Curasight A/S (“Curasight”) announces that the company has received approval for listing at Spotlight Stock Market. The approval is given under the condition that the company raises the minimum limit and that the company obtains a sufficient number of shareholders in accordance with Spotlight Stock Market’s listing agreement in the upcoming IPO. Curasight today also publishes the prospectus for the upcoming issue of units, for which the subscription period starts on Thursday, the 3[rd] of September 2020, and ends on the 17[th] of September 2020. The prospectus is available at Curasight’s website (www.curasight.com), Sedermera Fondkommission’s website (www.sedermera.se) and the website of Spotlight Stock Market (www.spotlightstockmarket.com). Teaser and subscription form will be published on the webpages mentioned above at the start of the subscription period.
About Curasight, the upcoming issue of units and listing at Spotlight Stock Market
Curasight is a clinical phase II company based on more than a decade of research at Rigshospitalet and the University of Copenhagen. Over the last several years Professor Andreas Kjaer has together with a scientific team developed the concept of PET imaging of the receptor (uPAR), a known biomarker of cancer aggressiveness (tumor invasion and formation of cancer metastases). By imaging this, Curasight's technology facilitates both diagnosis and the choice of cancer treatment. In addition, Curasight has developed a new treatment for brain cancer that combines targeted radiotherapy uTREAT® (therapy) with uTRACE® (diagnostics), the technology is called Theranostics, which is expected to be able to detect and treat brain cancer and metastases in a much more gentle and effective way than today's method for external radiation therapy. uTRACE® will carefully search and specifically bind to the cancer cells and predict where the cancer radiation treatment, uTREAT®, will bind to fight the cancer cells.
Curasight is now conducting a capitalization to complete a pre-clinical study in brain cancer with uTREAT® and a Phase III clinical study in brain cancer with uTRACE®, with the aim of obtaining FDA & EMA approval and commercialize the company's uTRACE® platform. Testing of treatment of aggressive brain cancer (Glioblastoma) is expected to go through a “fast track” to obtain approval from the FDA and EMA due to the orphan (rare) disease status of Glioblastoma, where there has been essentially no significant improvement in the treatment of this aggressive brain cancer for the past 15 years.
Summary of the offering
Subscription period: 3rd to 17th of September 2020.
Subscription price: DKK 115.20 per unit, corresponding to DKK 14.40 per share. One (1) unit consists of eight (8) shares and seven (7) warrant series TO 1 free of payment.
Issue volume: The offer comprises of a maximum of 2,270,000 shares and a maximum of
1,986,250 warrants of series TO 1, corresponding to initially approximately DKK 32.7 million and at a later stage DKK 34.2 million, respectively. If the issue is fully subscribed and all associated warrants are exercised, Curasight will receive a capital injection totalling approximately DKK 66.9 million before issuance costs. The minimum number of units which can be subscribed for is 35 units, which corresponds to a payment of DKK 4,032.00.
Valuation (pre-money): Approximately DKK 200 million.
Subscription commitments: The company has received subscription commitments of approximately
DKK 25.9 million, a total of approximately 79 percent the initial part of the issue of units.
Number of shares before the issue of units: 13,886,340 shares.
Listing on Spotlight Stock Market: Curasight’s shares and warrants are planned to be listed on
Spotlight Stock Market. The first day of trading is projected to be on the 8th of October 2020.
Ticker, ISIN: CURAS, ISIN code DK0061295797.
Summary of the consideration free warrants
Exercise period: 16th of September 2021 until the 7th of October 2021.
Exercise price: One (1) warrant gives the right to subscribe for one (1) new share at DKK 17.20 in
Issue volume: If all warrants are exercised during this period, the company will receive an additional
approximately DKK 34.2 million before issue costs.
Ticker, ISIN: CURAS TO 1 ISIN code DK0061408747
Directed issue executed in parallel with the IPO
In connection with the IPO of units, the company will execute a directed issue of units to the same terms as the IPO of units. The parties participating in the directed issue are Nyenburgh Holding B.V., Polynom Investment AB and Eastbridge Capital AB. The motive for the directed issue is to attract larger strategic investors to the company. The directed issue can initially provide Curasight with approx. DKK 14 million and through warrants at a later stage an additional approx. DKK 14.6 million.
Financial advisor and legal advisor
Sedermera Fondkommission is the financial advisor of Curasight in connection with the issue of units. Markets & Corporate Law acts as the legal advisor.
For additional information regarding the issue of units, please contact: Sedermera Fondkommission
Phone: +46 (0) 40-615 14 10
For more information regarding Curasight, please contact:
Ulrich Krasilnikoff, CEO
Phone: +45 22 83 01 60
Curasight is a clinical development company based in Copenhagen, Denmark. The company is a pioneer in the field of exploiting a novel Positron Emissions Tomography (PET) imaging platform targeting the urokinase-type plasminogen activator receptor (“uPAR”). The technology provides improved diagnosis and risk stratification in multiple cancer types.