Spectracure AB (publ) - subscription price set at SEK 0.03 per unit in rights issue

SpectraCure AB (publ) has announced that the subscription price for its ongoing rights issue has been set at SEK 0.03 per unit, with each unit consisting of one share and one warrant of series TO4. This pricing reflects a significant discount relative to the company’s recent trading levels and aims to facilitate broad participation from both existing and new investors. The rights issue is fully guaranteed and designed to raise capital for key strategic initiatives, including Phase 3 clinical trial, as well as regulatory efforts for FDA accelerated approval.

The subscription period for the rights issue is scheduled to run from June 5 to June 23, 2020. A total of 8,746,613 units are available for subscription, with 69.2% of the issue already subscribed for using unit rights. The remaining 30.8% of units were subscribed for without unit rights, including guarantee and top guarantee investors. The company has also indicated that additional units will be issued as compensation to the financial adviser and guarantors, further increasing the total number of shares and warrants outstanding.

The successful subscription of the rights issue underscores strong investor confidence in SpectraCure’s long-term growth prospects and its pipeline of innovative treatments. The CEO, Masoud Khayyami, expressed satisfaction with the outcome, noting that the proceeds will support the company’s goal of securing regulatory approval in both European and U.S. markets within two years.

Following the completion of the rights issue and the necessary regulatory registrations, the newly issued shares and warrants will be listed on Nasdaq First North Premier Growth Market.