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The press release published on October 30, 2024, at 17:22 CET, incorrectly stated that the warrants after subscription and payment will be replaced with interim shares (IA) pending registration with the Swedish Companies Registration Office. The correct information is that no interim shares (IA) will be delivered, and that shares will be delivered as soon as the new issue is registered with the Swedish Companies Registration Office.
The full press release, updated with the correct information, follows below.
Chordate Medical Holding AB (publ) ("Chordate Medical" or the "Company") issued warrants of series TO 8 in connection with a rights issue of units that was completed in February 2024. Each warrant of series TO 8 gives, after recalculation carried out due to the reverse share split, the right to subscribe for 0.002 new share in the Company. Subscription cannot be made by part of a share, which means that 500 warrants of series TO 8 will be required for subscription of one (1) new share in the Company. The subscription price for the warrants of series TO 8 was set at 70 percent of the volume-weighted average price of the Company's share on Nasdaq First North Growth Market Stockholm during the period from October 16, 2024 up to and including October 29, 2024, however, not lower than the quota value of the Company's shares (SEK ten (10)) and not higher than SEK 75 per share. The volume-weighted average price of the Company's share during the period amounted to approximately SEK 34.27 and thus the subscription price is set at SEK 23.99. The exercise period for warrants of series TO 8 runs from November 4, 2024 up to and including November 18, 2024. The last day of trading in the warrants is November 14, 2024.
Complete terms and conditions for the warrants are available on the Company's website, www.chordate.com.
Terms summary for the warrants of series TO 8:
Exercise period: November 4, 2024 – November 18, 2024.
Subscription price: SEK 23.99 per share.
Issue volume: 127,835,679 warrants of series TO 8 entitle to subscription of a maximum of 255,671 shares. Upon exercise of all warrants of series TO 8, the Company may receive a maximum of approximately SEK 6.1 million before issue costs.
Last day of trading in warrants of series TO 8: November 14, 2024.
Dilution: Upon full exercise of all warrants of series TO 8, the number of shares in the Company will increase by a maximum of 255,671 shares, from 980,223 shares to a maximum of 1,235,894 shares and the share capital by a maximum of SEK 2,556,710 from SEK 9,802,230 to a maximum of SEK 12,358,940, corresponding to a maximum dilution effect of 20.7 percent of the number of shares. Note that warrants that are not exercised by November 18, 2024, or sold by November 14, 2024, will expire without value. In order for warrants of series TO 8 not to expire, warrant holders must actively subscribe for shares or sell the warrants. Please note that some nominees may close the application earlier than November 18, 2024.
How the warrants are exercised:
Nominee-registered warrants:
Subscription and payment, through exercise of warrants, shall be made in accordance with the instructions from each respective nominee. Please contact your nominee for further information.
Directly registered warrants:
No issue statement or payment instructions will be sent out. Subscription shall be made by simultaneous cash payment in accordance with the instructions on the application form. The warrants will be replaced by shares after the new issue has been registered with the Swedish Companies Registration Office.
The subscription form with instructions for payment will be available on the Company's website, www.chordate.com.
Advisors
Vator Securities AB act as financial advisor and CMS Wistrand Advokatbyrå act as legal advisor to Chordate Medical in connection with the exercise of the warrants of series TO 8. Vator Securities also act as issuer agent in connection with the exercise of the warrants of series TO 8.
