The subscription period in Curasight’s issue of units starts today
September 3, 2020
Today, the 3[rd] of September, 2020, the subscription period for Curasight A/S ("Curasight") issue of units (shares and consideration free warrants) begins. The subscription period runs until the 17[th] of September 2020. A fully subscribed issue of units will initially provide Curasight with approximately DKK 32.7 million (before issue costs) and an additional approximately DKK 34.2 million (before issue costs) at a later stage if all warrants are exercised. Prior to the commencement of the issue of units, Curasight has received subscription commitments from, among others, senior executives and board members. In total, the subscription commitments correspond to approx. 79 percent of the inital issue volume. Prospectus, teaser and subscription forms are available through the websites of Curasight (www.curasight.com) and Sedermera Fondkommission (www.sedermera.se). The investment documents are also available via Spotlight’s website (www.spotlightstockmarket.com). Sedermera Fondkommission is the financial advisor in the transaction and Markets & Corporate Law Nordic AB is the legal adviser.
About Curasight, the issue of units and the 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 of units of a total of approximately DKK 66.9 million (before issue costs of a total of approximately DKK 5 million) 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.
On the 8th of September 2020, Curasight’s CEO Ulrich Krasilnikoff and CSO Andreas Kjær will present the company, its operations and future plans, via a live streamed webcast together with Biostock. See below for details.
Date and time: 8th of September, at 1 am
Link to webcast: https://www.youtube.com/watch?v=aVINrsXsPeM&feature=youtu.be
The presentation will be recorded and available even after the webcast.
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) warrants of 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 additionally approximately DKK 34.2 million. 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 issue 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, corresponding to 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 of series TO 1 at a later stage, and to the same terms as the warrants from the IPO, 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 is the legal advisor.
For additional information regarding the issue of units, 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