Significantly oversubscribed IPO of units in Curasight
September 22, 2020
The subscription period for Curasight A/S ("Curasight") IPO of units (shares and consideration free warrants) ended on September 17[th] 2020. The initial part of the IPO of units was subscribed to a total of approx. DKK 273 million, corresponding to a subscription ratio of approx. 835 percent, and Curasight will thereby be provided approx. DKK 32.7 million (before issue costs) through the IPO of units. Through the issue of units, Curasight receives approx. 1,700 new shareholders. In addition to the IPO of units, the company has executed a directed issue of units to the same terms as the IPO, which will provide Curasight with an additional approx. DKK 14 million (before issue costs). Settlement notes are scheduled to be sent out today, September 22[nd], 2020. Sedermera Fondkommission is the financial advisor and Markets & Corporate Law Nordic AB is the legal advisor in connection with the capitalization and listing.
Curasight’s CEO Ulrich Krasilnikoff comments
“We are very grateful for the interest in our issue of units and I would like thank all interested parties who have chosen to invest in Curasight. The capital that we are now provided with will finance the completion of a therapeutic preclinical study in brain cancer and a clinical phase III image study in brain cancer with the objective to obtain FDA approval and commercialize the 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 rare disease status of Glioblastoma where there has essentially been no significant improvement in the survival of this aggressive brain cancer over the past 15 years.”
Subscription and allocation
The initial part of the IPO of units was subscribed to approx. DKK 273 million, including subscription commitments, corresponding to a subscription ratio of approx. 835 percent. In addition to this, the directed issue of units of a total of approx. DKK 14 million was fully subscribed. 2,270,000 shares and 1,986,250 warrants of series TO 1 will be issued through the IPO of units and 970,000 shares and 848,750 warrants of series TO 1 will be issue through the directed issue of units. Curasight will thereby be provided a total of approx. DKK 46.7 million before the total issue costs, which are estimated to amount to approx. DKK 4.1 million (approx. 8.8 percent of the total initial issue volume). The allocation of units has been decided by the Board of Directors in accordance with the principles stated in the terms in the prospectus. Settlement notes are expected to be sent out today, September 22nd, 2020. Subscribers who are not allocated any units will not receive a settlement note.
Warrants of series TO 1
The exercise period for the warrants of series TO 1 issued in connection with the IPO of units and the directed issue of units have an exercise period which takes place from September 16th, 2021 until October 7th, 2021. For each warrant, the warrant holder has the right to subscribe for one new share at a price of DKK 17.20 per new share. If all warrants of series TO 1 are exercised, the company will be provided an additional approx. DKK 48.8 million before issue costs.
The number of shares and share capital
When the initial part of Curasight’s IPO of units and the initial part of the directed issue of units have been registered with the Danish Companies Registration Office, the total number of shares will amount to 17,126,340 shares and the share capital amount to DKK 856,317.00. The total number of outstanding warrants of series TO 1 in the company will amount to 2,835,000.
Listing at Spotlight Stock Market
Curasight’s shares and warrants are planned to be listed on Spotlight Stock Market. The first day of trading in the shares and warrants is projected to be on the 8th of October 2020. The share will be traded under the ticker name ”CURAS”, with ISIN code DK0061295797 and the warrant will be traded under the ticker name ”CURAS TO 1”, with ISIN code DK0061408747.
Financial advisor and legal advisor
Sedermera Fondkommission is the financial advisor of Curasight in connection with the capitalization and listing. Markets & Corporate Law acts is the legal advisor.
For additional information regarding the capitalization, please contact:
Phone: +46 (0) 40-615 14 10
For more information regarding Curasight, please contact:
Ulrich Krasilnikoff, CEO
Phone: +45 22 83 01 60
This information is information that Curasight is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on September 22, 2020.