NeoDynamics announces the preliminary outcome of the exercise of warrants of series TO3.
The exercise period for warrants series TO3 in NeoDynamics AB (publ) (“NeoDynamics” or the “Company”) ended on March 1, 2024. A total of 439,100 warrants were exercised for the subscription of 4,391 new shares, corresponding to a utilization rate of approximately 0.15 percent. Due to an ongoing rights issue of shares, a recalculation of the terms for the warrants will take place. This outcome is thus only preliminary.
On February 2, 2024, the Company decided on a share consolidation. Due to the consolidation, a recalculation of both the range, subscription price, and the number of warrants of series TO3 required for the subscription of new shares was carried out. After the consolidation, one hundred (100) warrants entitle the holder to subscribe for one (1) new share in the Company at a subscription price of SEK 1.73 per share. A total of 439,100 warrants were exercised, corresponding to approximately 0.15 percent of all warrants of series TO3, for the subscription of a total of 4,391 shares. Through the exercised warrants, NeoDynamics thus receives approximately SEK 7,600 before transaction costs.
Increase in the number of shares and share capital
By the exercise of warrants, the number of shares in NeoDynamics increases preliminarily by 4,391 shares, from 7,245,951 to 7,250,342 shares. The share capital increases preliminarily by SEK 7,574.475, from SEK 12,499,265.475 to SEK 12,506,839.95. For existing shareholders who have not exercised any warrants, the dilution amounts to approximately 0.06 percent based on the number of shares in NeoDynamics after the warrants have been exercised.
The Ongoing Rights Issue
On February 2, 2024, the Company decided on a rights issue of shares (“The Ongoing Rights Issue”). In accordance with the terms of the Warrants, exercising the Warrants does not entitle participation in The Ongoing Rights Issue.
The Ongoing Rights Issue will result in a recalculation of the terms of the Warrants. Such recalculation may only occur after the end of the subscription period and will apply to the exercised Warrants.
Delivery of new shares
Subscribers of new shares by using warrants receive interim shares (IA) pending registration of the new shares at the Swedish Companies Registration Office. The conversion of interim shares to ordinary shares is expected to take place around week 12 and the new ordinary shares will then be admitted to trading on the Nasdaq First North Growth Market.
Advisers
Redeye AB is a financial advisor in connection with the Rights Issue. Advokatfirman Lindahl KB acts as legal advisor to NeoDynamics in connection with the Rights Issue. Nordic Issuing AB acts as the issuing agent in connection with the Rights Issue.
For further information, please contact:
Anna Eriksrud, CEO NeoDynamics AB, phone 0708 444 966 or e-mail anna.eriksrud@neodynamics.com
Aaron Wong, CFO NeoDynamics AB, phone 0735 972 011 or e-mail aaron.wong@neodynamics.com
About NeoDynamics
NeoDynamics AB (publ) is a Swedish Medical Technology Company dedicated to advancing diagnosis and care of cancer. The company’s first product NeoNavia®, a new innovative pulse biopsy system for ultrasound-guided tissue sampling, is currently being introduced to the market. NeoNavia® is CE approved, and in September 2022, received a 510k approval from the FDA. The biopsy system is built on a patented pulse technology, based on research at the Karolinska Institutet in Sweden. NeoNavia is evaluated for breast cancer diagnosis at leading clinics in Europe and launches in USA during 2023. NeoDynamic’s shares are listed on Nasdaq First North Growth Market Stockholm (ticker: NEOD). The company’s Certified Adviser is Redeye AB.
About NeoNavia®
NeoNavia® is the trade name for the complete biopsy system intended for use in ultrasound-guided sampling. NeoNavia® consists of a base unit, a hand unit, and three types of biopsy needles. The pulse technology drives the respective needle type, which facilitates needle insertion and placement in the suspected tumor. The system is designed to offer physicians and patients precise and robust tissue sampling for accurate diagnosis and individualized treatment.
About the pulse technology
The patented pulse technology is based on a pneumatically driven mechanism that enables high precision and control when inserting and positioning the biopsy needle, regardless of tissue type. The pneumatic drive unit that generates pulses is located in a hand-held instrument. With power from the base unit, the hand-held driver accelerates the biopsy needle with great control, even over short distances, enabling a distinct step-by-step insertion without affecting the surrounding tissue. This enables good access and flexibility in sampling, even in tiny and tricky localized tumors.
For more information, please visit Neodynamics.com.
The information in this press release does not contain or constitute an offer to acquire, subscribe for or otherwise trade in shares, warrants or other securities in NeoDynamics. The invitation to the persons concerned to subscribe for units consisting of shares and warrants in NeoDynamics has only been made through the prospectus published by NeoDynamics on July 31, 2023, and through the supplement prospectuses published by NeoDynamics on August 11, 2023. The prospectuses have been approved and registered by the Swedish Financial Supervisory Authority and have been published on the Company’s website, www.neodynamics.com.
The English text is an unofficial translation of the original Swedish text. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.
