CombiGene AB (publ) announces the outcome of the exercise of warrants of series TO 3
On August 31, 2020 the period for exercising warrants of series TO 3 for subscription of shares in CombiGene AB (publ) (“CombiGene” or “The Company”) ended. In total, 29 450 679 warrants had been exercised for subscription of shares and each warrant entitled to subscribe for one (1) new share in CombiGene at a subscription price of SEK 0.6 per share. The utilization rate thus amounted to approximately 97,25 per cent and through the warrants CombiGene was granted SEK 17 670 407,40 before issue costs.
The subscription entails that the number of shares in CombiGene increases with 29,450,679 shares, from 147,210,132 shares to 176,660,811 shares and that the share capital increases by SEK 2,945,067.9 from SEK 14,721,013.2 to SEK 17,660,081.10.
The shares added as a result of the exercise of warrants of series TO 3 entails a dilution effect of approximately 16,67 per cent. Dilution effect refers to the number of newly issued shares as a result of exercised warrants of series TO 3 in relation to the total number of shares in CombiGene after the new shares have been registered.
CombiGene’s vision is to provide patients affected by severe life-altering diseases with the prospect of a better life through novel gene therapies. CombiGene’s business concept is to develop effective gene therapies for severe life-altering diseases where adequate treatment is currently lacking. Development assets are sourced from an external research network and developed to achieve clinical proof of concept. Drug candidates for common diseases will be co-developed and commercialized through strategic partnerships, while the company may manage this process on its own for drugs targeting niched patient populations. The company is public and listed on the Swedish marketplace Nasdaq First North Growth Market and the company’s Certified Advisor is FNCA Sweden AB, +46 (0)852 80 03 99 email@example.com.