Immunovia's Warrant Exercise Success Supports Future Growth

Immunovia’s Successful Warrant Exercise: A Game Changer

Immunovia AB, known for its pioneering work in pancreatic cancer diagnostics, has recently completed a crucial exercise of its warrants series TO 2. This strategic move, which concluded on January 16, provided Immunovia with a significant boost towards its goal of enhancing patient outcomes through early detection of pancreatic cancer.

Overview of Warrant Series TO 2 Exercise

The outcome of the Warrant Programme was impressive, with a total of 92,197,387 warrants exercised. This corresponds to an approximate exercise rate of 74.1%, thus demonstrating strong investor confidence in Immunovia's mission.

Details of the Warrant Programme

These warrants allowed holders to subscribe for new shares in Immunovia at a price of SEK 0.46 per share. The total funds from this exercise amount to around 42.4 MSEK, which will primarily support the development and market introduction of their next-generation diagnostic tests in the US.

Growth Plans and Future Initiatives

According to Jeff Borcherding, the CEO of Immunovia, the capital raised will be strategically utilized to further bolster the company's clinical data necessary for securing reimbursement for their innovative testing methods. This proactive approach underscores Immunovia's commitment to enhancing patient access to vital diagnostic tests, saving lives through early intervention.

Impact on Shareholders

The warrant exercise led to an increase in the total number of shares from 169,711,476 to 261,908,863. While this increase reflects a considerable expansion of the company's capital structure, it also translates to a dilution of approximately 35.2% for existing shareholders who opted out of this investment opportunity.

Interim Shares and Registration

As part of this exercise, all exercised warrants will be replaced with interim shares that are in the process of registration with the Swedish Companies Registration Office. Conversion of these interim shares into regular shares is anticipated to occur within about two weeks, further streamlining Immunovia's operational liquidity and shareholder structure.

Support from Financial and Legal Advisers

In navigating this critical exercise, Immunovia secured the services of Vator Securities AB as its financial adviser, alongside Setterwalls providing legal counsel. This advisory team has played an integral role in enabling the effective execution of the warrant programme, reflecting Immunovia's robust governance framework and compliance with regulatory standards.

About Immunovia's Mission and Market Presence

Immunovia is on a mission to tackle the challenges posed by pancreatic cancer, which is notorious for its late diagnosis and poor survival rates. The company's focus on blood-based testing aims to detect proteins and antibodies that indicate the risk of developing pancreatic cancer, significantly improving patient outcomes through timely intervention.

In the enormous US market, there are approximately 1.8 million individuals considered at high-risk for pancreatic cancer. These individuals could greatly benefit from annual surveillance testing to catch the disease in its preliminary stages, showcasing the critical need for Immunovia's innovative solutions.

Conclusion

With a clear vision and determined focus, Immunovia is positioning itself as a leader in the early detection of pancreatic cancer. The successful warrant exercise not only strengthens its financial foundation but also paves the way for future growth initiatives aimed at saving lives. As Immunovia continues to innovate and refine its diagnostic offerings, it sets the stage for a promising future in the expedited detection of one of the most challenging forms of cancer.

Frequently Asked Questions

What is the purpose of the warrants exercise by Immunovia?

The warrant exercise was conducted to raise capital that will be used to further develop and launch Immunovia's next-generation pancreatic cancer tests in the US market.

How much capital was raised through this exercise?

Through the exercise of the warrants, Immunovia raised approximately 42.4 MSEK before any associated issuance costs.

What impact did the warrant exercise have on share structure?

The exercise increased the total number of shares from 169,711,476 to 261,908,863 shares, leading to a dilution of approximately 35.2% for existing shareholders who did not participate.

Who provided advisory services during the warrant exercise?

Vator Securities AB served as the financial adviser while Setterwalls acted as the legal adviser to Immunovia for this process.

What is the long-term goal of Immunovia?

The long-term goal of Immunovia is to enhance survival rates for pancreatic cancer patients through early and accurate detection, improving access to clinical interventions.

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