FluoGuide has completed a directed share issue raising SEK 75 million

Copenhagen, Denmark, 12 May 2021 – FluoGuide A/S (publ a developer of surgical precision solutions within oncology (“FluoGuide” or the “Company”) (Nasdaq First North Growth Market: FLUO) hereby announces that the Company has successfully completed a directed share issue raising SEK 75 million in gross proceeds (the “Directed Share Issue”).

The board of directors of FluoGuide has, based on the  authorization to increase the share capital in the Company’s articles of association section 3.2.3 granted by the annual general meeting on 9 February 2021, and as indicated in the Company’s press release yesterday, resolved to increase the share capital without pre-emptive subscription rights for the Company’s existing shareholders with nominal DKK 78,947.4 corresponding to 789,474 new shares of nominal DKK 0.1 each at a subscription price of SEK 95 per share (the “Directed Share Issue”). The Company will receive gross proceeds of SEK 75 million from the Directed Share Issue.

The subscription price in the Directed Share Issue has been determined by way of an accelerated bookbuilding procedure. The vast majority of the issue was subscribed by domestic and international long-only investors, with support from existing large shareholders.

Morten Albrechtsen, CEO of FluoGuide comments: “We are very happy with the strong interest from both Nordic and international institutions to take part in the FluoGuide growth story. Financing for our planned phase II and phase III studies have now been secured, and we are truly excited about the future.

The proceeds of the Directed Share Issue are intended to be used for: i) one phase II study with the lead product FG001 in new prevalent indications in 2021, ii) preparation of a phase III study in 2022 iii) preclinical studies on FG002, and iv) general corporate and financial dispositions.

The Company believes that using the flexibility provided by the Directed Share Issue is the most appropriate alternative for the Company at this time, allowing it to raise capital in a timely and cost-effective manner and to diversify the shareholder base. By establishing the subscription price in the Directed Share Issue through an accelerated bookbuilding procedure, it is the assessment of the board of directors that the subscription price accurately reflects current market conditions and demand.

Through the Directed Share Issue, the Company’s share capital will increase by nominal DKK 78,947.4 from DKK 1,053,002.6 to DKK 1,131,950.0, by issuance of new shares, of nominal DKK 0.1 each. The new shares will rank pari passu and have the same rights attached as all other existing shares in the Company and will confer a right on dividends and other shareholder rights from the date of registration of the capital increase with the Danish Business Authority. The Directed Share Issue results in a dilution of approximately 7.0 percent of the capital and approximately 7.0 percent of the votes for existing shareholders based on the total number of shares and votes in the Company after the Directed Share Issue. It is expected that the new shares will be delivered in the Euroclear system to investors in the Directed Share Issue on or about on 17 May 2021.

Skandinaviska Enskilda Banken AB and ABG Sundal Collier acted as Joint Bookrunners in the transaction. Sedermera Fondkommission has been retained to act as Co-Manager in connection with the transaction. Advokatfirman Vinge and Mazanti-Andersen acted as legal adviser to FluoGuide.

In connection with the Directed Share Issue, the Company and members of the board of directors and management of FluoGuide, has agreed pursuant to a lock-up undertaking, subject to customary exceptions, not to issue or sell additional shares for a period of 90 days following settlement of the Directed Share Issue.

Conference call:
At the end of today’s trading session, the company will host an online presentation and Q&A session at 5:30 pm CEST (Wed. 12 May 2021)
To attend the presentation online, please, register here: www.ir.live/fluoguide
To call in and listen to the presentation, please, use:
Dial-in Number: +1 (312) 248-9348
Dial-in ID Number: 547133#Dial-in Passcode: 6884#

This disclosure contains information that Fluoguide is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on [Date and time is inserted automatically].