On 18 February 2020, and on 24 April 2020, CombiGene AB (publ) (“CombiGene”) issued, inter alia, a total of 30,284,180 warrants of series TO4 in a rights issue and in a private placement to Modelio Equity AB (publ) and Oscar Molse. Thereafter, on 4 August 2020, CombiGene issued, inter alia, 21,588,125 warrants of series TO5 in a private placement to the Dutch specialized Life Science investor Nyenburgh Holding BV. On 30 November 2020, the period for exercising the warrants for subscription of shares ended. When the subscription period ended, 29,466,723 warrants of series TO4 and 21,588,125 warrants of series TO5, in total 51,054,848 warrants, had been exercised for subscription of the same number of shares. This equals an aggregated utilization rate of 98.4 per cent. Given the subscription price of SEK 0.5, CombiGene thus raised SEK 25,527,424 before transaction costs.
The subscription entails that the number of shares in CombiGene increases with 51,054,848 shares, from 178,222,176 shares to 229,277,024 shares and that the share capital increases by SEK 5,105,484.80 from SEK 17,822,217.60 to SEK 22,927,702.40.
The shares added as a result of the exercise of warrants of series TO4 and TO5 entails a dilution effect of approximately 22 per cent. Dilution effect refers to the number of newly issued shares as a result of exercised warrants of series TO4 and TO5 in relation to the total number of shares in CombiGene after the new shares have been registered.