STENOCARE Unit Right Issue - First day of subscription

Cision Publicerad: 24 May 2023 08:00

STENOCARE A/S
NASDAQ FIRST NORTH GROWTH MARKET, DENMARK
TICKER: STENO

STENOCARE A/S (“Stenocare”) announced on May 15, 2023 that the company will raise up to 30 million DDK in a Unit Right Issue on Nasdaq First North Growth Market. Today, May 24, is the first day for investors and shareholders to subscribe for the new shares and Warrants.

Market leadership: Stenocare has been a pioneer in the medical cannabis industry since 2017 and has successfully entered 5 countries with subscription-based products that are approved for sales by local health agencies. The European medical cannabis industry is still young with a million large patient potential in the coming years, and Stenocare is therefore raising capital to further support the ambitious strategy to expand its position as a market leading European brand for medical cannabis.

Capital for acceleration: The company has announced a “Unit Right Issue” to raise up to 30 million DKK in three different transactions, with the first transaction starting May 24 and ending June 8. This first transaction seeks to raise 10 million DKK and the company has received pre-commitments for 86% of the amount. Members of the Stenocare management team and Board of Directors have personally committed to invest 2 million DKK in the transaction.

The offer: The Unit Right Issue is similar to a normal “Right Issue” – with “Warrants” as an additional element. The Unit Right Issue consists of four different elements: 2 new Stenocare shares and 2 Warrants. These four elements are packaged into a “UNIT”, that is sold at a price of 9,16 DKK per UNIT.

The offer: 2 new shares of 4,58 DKK each = 9,16 DKK

2 Warrants, free = 0 DKK

Total price for UNIT = 9,16 DKK

The two Warrants give the owner a right to purchase new Stenocare shares in the future with a discount of 30%. The first Warrant (named “TO1”) can be used in December 2023, and the second Warrant (named “TO2”) can be used in June 2024. If the owner decides not to purchase new shares, then the Warrants can be sold at market prices.

Existing shareholders have priority: All Stenocare shareholders on May 23 will receive subscription rights to purchase the UNITs. For each share owned, the shareholder will receive 1 “Unit Right” and for each 10 Unit Rights you have the right to buy 1 UNIT at 9,16 DKK. Shareholders should follow the instructions from their bank or use Nordnet.

New investors are invited: All investors are invited to benefit from this UNIT offer. There are two ways to “purchase” the offer, and it depends if you desire to have a guarantee to purchase or not: 1) If there is no desire for a guarantee, then use the Subscription Form on the Stenocare investor page to subscribe to the offer, 2) if there is a desire for a guarantee, then the you should to purchase “Unit Rights” in your bank or Nordnet. The Unit Right is then used for purchasing the UNIT offer. For each UNIT there need to be a 10 Unit Right (ratio 1:10).

More information about Stenocare and the offer is available on the company investor page:

Stenocare investor page (English): https://stenocare.com/share-issue-2023/

Stenocare investor page (Danish): https://stenocare.dk/share-issue-2023-dk/

Stenocare investor page (Swedish): https://stenocare.se/share-issue-2023-se/

Stenocare facebook: https://www.facebook.com/stenocare

Stenocare Twitter: https://twitter.com/STENOCARE_

Nordnet (Danish): https://www.nordnet.dk/dk/kampagner/emission/stenocare

Nordnet (Swedish): https://www.nordnet.se/se/kampanjer/emission/stenocare

Link to Subscription Form: https://stenocare.com/wp-content/uploads/2023/05/SUBSCRIPTION-FORM-without-use-of-Unit-Rights-ENG-.pdf

Link to the full announcement of the Unit Right Issue: https://stenocare.com/investor-relations/announcements/66A70863B3330828/