Curasight A/S publishes prospectus due to upcoming rights issue
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Copenhagen, Denmark, 12 September 2024 – Curasight A/S ("Curasight" or the “Company" – TICKER: CURAS) announced on 4 September 2024 that the Board of Directors had resolved on a rights issue of units with preferential rights for the Company's shareholders (the “Rights Issue”). The Danish Financial Supervisory Authority has today, on 12 September 2024, approved and registered the prospectus that Curasight has prepared in connection with the rights issue. The prospectus is available on Curasight's website (www.curasight.com) and Sedermera Corporate Finance AB's website (www.sedermera.se).
Prospectus
The prospectus that Curasight has drawn up in connection with the Rights Issue has today been approved and registered by the Danish Financial Supervisory Authority. The prospectus, containing complete terms and conditions, can be obtained from the respective websites of Curasight (www.curasight.com), Sedermera Corporate Finance AB (www.sedermera.se) and Nordic Issuing AB (www.nordic-issuing.se).
Rights Issue of units
Those who are shareholders on the record date of 13 September 2024 will receive one (1) unit right for each (1) share in Curasight. Seventeen (17) unit rights give the shareholder the right to subscribe for one (1) unit at a price of DKK 0.01 per unit. One (1) unit consists of two (2) warrants of series TO2 and one (1) warrant of series TO3. Those who are not shareholders in Curasight will not receive unit rights and will thus not be able to participate in the Rights Issue.
It is to be noted that the Rights Issue itself will not increase the number of shares or the share capital. Existing shareholders who choose not to participate in the Rights Issue will thus not experience a dilution effect after a fully subscribed Rights Issue.
Warrants of series TO2 and series TO3
Warrants of series TO2 will have an exercise period that runs from and including the 21st of November 2024 until and including 5th of December 2024. The exercise price for warrants of series TO2 will be set on the day before exercise period and will be based on the Volume Weighted Average Price in the Company’s share 20 days back, with a discount of 30 percent and be within the range DKK 11.50-15.55. Through the exercise of warrants of series TO2, Curasight can receive a maximum of approximately DKK 57.3 million. The warrants of series TO2 will be subject to trading at Spotlight Stock Market.
If the Rights Issue is fully subscribed and all warrants of series TO2 issued in the Rights Issue and the directed issue directed to Fenja Capital II A/S are exercised the share capital will increase by DKK 184,190.70 to DKK 1,218,312.05 and the number of shares will increase by 3,683,814 to 24,366,241, resulting in a dilution of approximately 15.1 percent.
Warrants of series TO3 will have an exercise period that runs from and including the 4th of June 2025 until and including 18th of June 2025. The exercise price for warrants of series TO3 will be set on the day before exercise period and will be based on the Volume Weighted Average Price in the Company’s share 20 days back, with a discount of 30 percent and be within the range DKK 15.55-19.40. Through the exercise of warrants of series TO3, Curasight can receive a maximum of approximately DKK 35.7 million. The warrants of series TO3 will be subject to trading at Spotlight Stock Market.
If all warrants of series TO3 issued in the Rights Issue and the directed issue are exercised, the share capital will increase by an additional DKK 92,095.35 to DKK 1,310,407.40 and the number of shares will increase by an additional 1,841,907 to 26,208,148, resulting in a dilution of approximately 7.0 percent.
Timeline
The timeline is illustrated below:
- 11 September 2024 – Last day of trading in Curasight’s shares including the right to receive unit rights
- 12 September 2024 – First day of trading in Curasight’s shares excluding the right to receive unit rights
- 12 September 2024 – First day of trading in unit rights
- 13 September 2024 – Record date to receive unit rights
- 16 September 2024 – Subscription period and trading in BTU commences
- 26 September 2024 – Last day of trading in unit rights
- 30 September 2024 – Subscription period ends
- 3 October 2024 – Outcome of preferential rights issue is announced
- Mid-October 2024 – Preferential rights issue is registered at Erhvervsstyrelsen and end of trading in BTU
- Mid/late-October 2024 – Trading in warrants of series TO2 and series TO3 starts
- 21 November 2024 – Start of the exercise period for warrants of series TO2
- 3 December 2024 – Last day of trading in warrants of series TO2
- 5 December 2024 – End of the exercise period for warrants of series TO2
- 4 June 2025 – Start of the exercise period for warrants of series TO3
- 16 June 2025 – Last day of trading in warrants of series TO2
- 18 June 2025 – End of the exercise period for warrants of series TO3
Advisors
Sedermera Corporate Finance AB is the Company's financial advisor in connection with the capitalization. DLA Piper has been the Company’s legal advisor. Nordic Issuing AB is the settlement agent.
