On October 18, 2018, the subscription period for Scandion Oncology A/S’s (“Scandion Oncology”) new share issue of approx. SEK 26 million prior to listing on Spotlight Stock Market (“Spotlight”) was completed. Scandion Oncology received subscription for a total of approx. SEK 104.7 million, including presubscription commitments, from a total of 74 pre-subscribers. This corresponds to a total subscription ratio of approx. 402.7 percent. Through the new share issue, Scandion Oncology will receive approx. 1 500 new shareholders. Settlement notes are scheduled to be sent to all allotted shareholders today.
Subscription and allotment
The new share issue of approx. SEK 26 million was oversubscribed to approx. SEK 104.7 million, including presubscription commitments of approx. SEK 18.5 million. Allotment of shares has been decided upon by Scandion Oncology’s Board of Directors in accordance with the principles stated in the memorandum. The shares (excl. the shares subscribed by pre-subscribers who are guaranteed allocation) will be distributed in minimum posts of 860 shares to a total of approx. 1 465 new shareholders, out of the total number of subscribers of 2 938 who subscribed in the new share issue. This way, the maximum number of new shares, 4,444,444 in total, will be issued, and Scandion Oncology will receive SEK 25,999,997.40 before costs of approx. SEK 2.2 million related to the issue.
Settlement notes are scheduled to be sent to all allotted shareholders today, October 23, 2018. Subscribers that do not get an allocation of shares will not receive a settlement note but will receive the information that they unfortunately did not receive any stocks in Scandion Oncology.
Nils Brünner, CEO of Scandion Oncology, comments:
I want to express my sincere thanks for the trust all the new shareholders have shown us. We will do our very best to fulfil their expectations. At Scandion Oncology, we are now looking forward to continue the important work with an aim to develop drugs that can be to the benefit of the millions of cancer patients who develop drug resistant cancer disease. We expect to treat the first cancer patients with SCO-101 in combination with chemotherapy late 2019 when the drug production and formulation have been completed.
Listing on Spotlight Stock Market
The first day of trading in Scandion Oncology’s shares on Spotlight is expected to be November 8, 2018. Scandion Oncology’s shares will be traded under the label “SCOL” and with ISIN code DK0061031895.
Number of shares and share capital
When Scandion Oncologys’s new share issue has been registered at Erhvervsstyrelsen, the total number of shares will amount to 11,907,651 shares and the share capital will amounts to DKK 875,212.
Sedermera Fondkommission is financial advisor in connection to the new share issue and the listing at Spotlight. Nordnet Bank AB was the Selling Agent in the new share issue.
For additional information regarding the new share issue and planned listing, please contact:
Phone: +46 (0) 40-615 14 10
For additional information regarding Scandion Oncology, please contact:
Nils Brünner, CEO
Phone: +45 26 14 47 08
This information is information that Scandion Oncology is obliged to publish in accordance to the EU Market Abuse Regulation. The information was provided by the contact person above for publication on October 23, 2018.
Scandion Oncology A/S is a biotechnology company founded in 2017 for the purpose of addressing and tackling one of the greatest challenges in modern oncology – the effective treatment of cancer which contains drug resistant cell clones or which has developed resistance to a previously prescribed cancer-fighting drug. In preclinical animal studies, the company’s leading candidate drug, SCO-101, has been found to significantly enhance the efficacy of certain standard cancer treatments when given in combination. It has been shown in in-vitro-studies that SCO-101 restores chemotherapy sensitivity in resistant cells.