Biosergen allocates shares to an underwriter in connection with the completed rights issue

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, NEW ZEALAND, SOUTH AFRICA, SOUTH AFRICA, CANADA OR ANY OTHER JURISDICTION WHERE SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.

As previously announced, Biosergen AB (“Biosergen” or the “Company”) has completed the rights issue of units, consisting of shares and warrants of series TO2, which was decided by the Board of Directors on September 2, 2022 (the “Rights Issue”). In accordance with the underwriting agreements which was entered into in connection with the Rights Issue, one underwriter has chosen to receive the underwriting compensation in units (the “Compensation Issue”). The terms of the Compensation Issue were resolved and announced at the same time as the Rights Issue. The subscription price has been set to SEK 15 per unit and the payment is set-off against the underwriter’s claim.

As previously communicated in connection with the Rights Issue, the underwriters, in accordance with the underwriting agreements, had the opportunity to choose to receive underwriting compensation either in the form of cash or newly issued units in the Company at the same terms as in the Rights Issue. One of the underwriters has chosen to receive the underwriting compensation in the form of newly issued units, corresponding to a total of 55,000 units, i.e. 275,000 shares and 165,000 warrants of series TO2.

Payment in the Compensation Issue has been made by offsetting the underwriter’s claim for underwriting compensation. The subscription price is set to SEK 15 per unit, which corresponds to the subscription price in the Rights Issue. Through the allocation in the Compensation Issue, the number of shares in Biosergen increases by 275,000 shares to a total of 42,427,660 shares, and the share capital increases by a total of SEK 6,875.00 to approximately SEK 1,060,691.50. The dilution due to the allocation in the Compensation Issue amounts to approximately 0.65 percent. If all warrants of series TO2 allocated in the Compensation Issue are converted into shares, the additonal dilution due to the Compensation Issue amounts to approximately 0.39 percent.

Advisers
Mangold Fondkommission AB is the financial adviser to Biosergen in connection with the Rights Issue and Compensation Issue. Advokatfirman Lindahl KB is the legal adviser to the Company in connection with the Rights Issue and Compensation Issue.