#Sweden #Immunovia #Lund #pancreatic cancer #Warrant Programme

Immunovia Updates on Warrant Series TO 2 Exercise Price

On December 28, 2024, Immunovia AB officially disclosed the exercise price for its warrants series TO 2, establishing it at SEK 0.46. The exercise window for these warrants will open on January 2, 2025, and will remain active until January 16, 2025. Furthermore, trading in these warrants will conclude by January 14, 2025.

Funding and Support for the Warrant Programme

In conjunction with the previous announcements made on December 18, 2024, Immunovia is attracting significant interest from both internal and external stakeholders. Subscription intentions from the CEO and board members indicate a commitment of around SEK 0.8 million. Notably, commitments amounting to approximately SEK 36.3 million from external professional investors have also been secured, depending on the approval from an extraordinary general meeting if required. This results in a substantial backing for the warrant programme, totaling approximately SEK 37.2 million, which constitutes about 65% of the programme.

CEO's Statement on the Importance of Securing Funding

Jeff Borcherding, the CEO of Immunovia, emphasized that securing the TO 2 warrants on favorable terms mitigates risks while positioning the company to achieve key operational milestones. The funds generated through the exercise of these warrants will be pivotal in preparing to launch their next-generation pancreatic cancer diagnostic test in the U.S. market, projected for the latter half of 2025. These resources will also bolster clinical studies aimed at facilitating reimbursement for the test, ensuring broader access for patients.

Recent Rights Issue and Warrant Details

The warrant series comes on the heels of a rights issue conducted from August to September 2024, during which each unit comprised two shares, two warrants of series TO 2, and one warrant from series TO 3. Holders of one warrant from series TO 2 can subscribe for one new share in the company. If all warrants are utilized, Immunovia could receive up to approximately SEK 57.2 million before any related costs commence.

The subscription price for these warrants was based on 70% of the average volume-weighted price of the company’s shares on Nasdaq Stockholm during the December 12 to 27 period, capped at 125% of the rights issue's share price. This led to the final subscription price of SEK 0.46.

Commitment Scope and Significant Investor Interests

Aside from the internal subscriptions from executive members, Immunovia has successfully garnered additional commitments from notable external investors, with a total of approximately SEK 36.3 million in guarantees. This figure is crucial as it represents about 63.4% of the total warrant programme.

Key Dates and Instructions for Warrant Holders

Immunovia urges all warrant holders to exercise their rights before the cut-off date of January 16, 2025. Unutilized warrants will expire without value post that date. For those individuals opting out of exercising, warrants can be freely traded on Nasdaq Stockholm until January 14, 2025.

Holders with nominee-registered warrants must inform their nominees well in advance to ensure their requests are processed by the deadline. In contrast, direct holders are required to submit an application form to the issuing agent, Vator Securities AB, by the same date. Detailed instructions and necessary forms can be found on both Immunovia's and Vator Securities' official websites.

Forecast Following Warrant Programme

Should all TO 2 warrants be exercised fully, the company anticipates an increase in its share capital by up to SEK 3,732,719.34, augmenting the total outstanding shares significantly. This could lead to a potential dilution of around 42.3%, adjusting the total shares from 169,711,476 to approximately 294,135,454.

Immunovia intends to precisely navigate the directed share issue based on this warrant exercise outcome, which will ultimately depend on its execution by the holders. The structured approach aims not only to enhance capital liquidity but also to broaden the institutional and professional shareholder base within market confines that have proven volatile recently.

Conclusion

In summary, Immunovia is strategically securing its financial framework through the conditional backing of its warrant programme while gearing up for the launch of innovative diagnostic solutions aimed at fighting pancreatic cancer. Their proactive engagement with institutional investors is vital as it not only boosts immediate liquidity but supports long-term growth strategies, ultimately enhancing the accessibility and efficacy of cancer diagnostics.