Xspray Pharma’s large shareholders and key individuals declare their intent to exercise TO5 warrants in November
Regulatory press release 2023-11-09
Xspray Pharma has received written declarations of intent whereby owners of 53 percent of shares in the company state their intent to exercise warrants TO5 to subscribe for newly issued shares corresponding to their holdings of warrants of series TO5 during the subscription period 16-30 November 2023 for the subscription price 40.00 SEK per share. The company’s Chairman, CEO and CFO have also declared the same intent. All parties have confirmed that their holdings of TO5 warrants at least exceed the number that was allotted in connection to their participation in the rights issue in June this year which is expected to result in the exercise of over half the number of outstanding TO5 warrants.
”We are pleased with this news and the strong support our larger institutional owners have shown the company,” says Per Andersson, CEO of Xspray Pharma.
The outstanding warrants TO5 were allotted as part of the units that were subscribed for in connection to the preferential rights issue that Xspray Pharma made in June this year. If all outstanding TO5 are exercised, the company receives SEK 125.5 million in gross proceeds. The declarations of intent are expected to lead to the exercise of over half of the outstanding warrants of series TO5. The declarations of intent have been made by Flerie Invest, Östersjöstiftelsen, Ribbskottet AB, Fjärde AP-fonden, Tredje AP-fonden and Andra AP-fonden as well as Chairman Anders Ekblom, CEO Per Andersson and CFO Kerstin Hasselgren.