TO1 Warrant Exercise subscribed to 76.7%

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

This information is information that STENOCARE A/S is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person below for publication on December 21, 2023.

Outcome of TO1 Warrant Exercise

STENOCARE A/S (“Stenocare” or the “Company”) announces the outcome of the exercise of its TO1 warrant (“Warrants”) exercise. The Warrants were issued in connection with the executed unit rights issue in May/June 2023 and conversion of 5 mDKK debt in June 2023. Total number of outstanding Warrants were 1,712,999 whereas 1,167,612 were issued in connection with the unit rights issue and 545,387 were issued in connection with the debt conversion. In total 76,7% or 1,313,601 Warrants were exercised for subscription of 1,313,601 new shares, as one TO1 warrants gives the right to subscribe for one new share at a price of DKK 2.11 per share. Stenocare will receive approximately 2.8 mDKK in gross proceeds before transaction costs.

CEO, Thomas Skovlund Schnegelsberg comments on the outcome:

“I am thrilled to announce the successful completion of our TO1 warrant exercise, which brings in fresh capital and marks a significant milestone for Stenocare. This achievement is a testament to the hard work and dedication of our incredible team, who have delivered continuous progress over the past quarters. I extend my gratitude to all our share- and stakeholders for your trust and support. As we look towards 2024, we are filled with optimism and confidence, ready to embrace new challenges and opportunities on our journey in 2024 towards breakeven and beyond”

Change in shares and nominal share capital

This section describes the change in shares and nominal share capital over and above that resulting from the directed issue which has already been announced. In the TO1 warrant exercise a total of 1,313,601 new shares will be issued, each with a nominal value of 0.08 DKK. This issuance will result in a dilution of approximately 7.2 percent for the existing shareholders that did not participate in the TO1 warrant exercise. Consequently, the number of shares will increase by 1,313,601 from 17,070,714 shares to 18,384,315 shares. The share capital will increase with 105,088.08 DKK, from 1,365,657.12 DKK to 1,470,745.20 DKK.

Important dates

Registration of the capital increase at the Danish Business Authority is expected to be done 27 December 2023 and the first day of trading the new shares at Nasdaq First North Growth Market Denmark is expected to be 29 December 2023.

Application will be made to Nasdaq Copenhagen A/S for the new shares resulting from the TO1 warrants to be admitted to trading on Nasdaq First North Growth Market Denmark. Such application will be made concurrently with that for the new shares resulting from the exercise of the previously communicated directed issue.

Company advisers:

Keswick Global AG has acted as the Company’s Certified Adviser. Gemstone Capital A/S has acted as the Company’s financial adviser. Lund Elmer Sandager has acted as the Company’s legal adviser. Danske Bank has acted as settlement agent and issuing agent.