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Additional Major Shareholders Announce Full Subscription in Chordate Medical’s Ongoing Rights Issue

Two of Chordate Medical’s ten largest shareholders have informed the company of their intention to subscribe for Units in the ongoing rights issue.

Hawoc Investment AB had previously committed to a subscription of SEK 500,000. In addition to this, Hawoc has now informed the company that they intend to subscribe to their full pro rata right in the ongoing issue, amounting to a total of SEK 2,122,000, including the original commitment. Hawoc Investment AB is the company’s second-largest shareholder.

Furthermore, David Nyman has informed the company of his intention to subscribe to his pro rata right, equivalent to SEK 528,000.

“It is highly gratifying to receive this strong support for the company and the rights issue from our major shareholders. The confirmation of continued support and confidence in our strategic plan from so many of our principal owners is of crucial importance to the company,” says Anders Weilandt, CEO of Chordate.

This means that Chordate Medical’s rights issue will now be subscribed for an additional circa 9.7 percent, bringing the total subscription level to at least circa 90 percent. In other words, the company will receive an additional circa SEK 2.2 million, or a total of at least circa SEK 20 million.

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Chordate Medical Holding AB (publ) is a medical technology company that has developed, patented and CE-marked Ozilia®, a neuromodulation and drug-free treatment technology for chronic migraine and chronic rhinitis. The treatment has clinically proven efficacy according to a recent study, and is marketed in selected markets in the EU and the Middle East. Chordate Medical is listed on Nasdaq First North Growth Market Stockholm (ticker: CMH). 

The company’s Certified Adviser on Nasdaq First North Growth Market Stockholm is Vator Securities AB.

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SE-164 51 Kista
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