The Exercise Period for Spago Nanomedical's Warrants of Series TO12 Commences Today

LUND, SE / ACCESSWIRE / May 17, 2024 / Spago Nanomedical (STO:SPAGO.ST)(FRA:7UX.F) Spago Nanomedical AB (publ) ("Spago Nanomedical" or the "Company") issued a total of 127,321,212 warrants of series TO12 ("Warrants") within the framework of a rights issue of units during the fourth quarter of 2023. The exercise period for the Warrants commences today, on May 17, 2024, and continues until May 30, 2024. One (1) Warrant entitles the holder to subscribe for one (1) new share in the Company. The subscription price per share subscribed for through the exercise of Warrants has been set at SEK 0.20. Upon full utilization of all Warrants, Spago Nanomedical will receive approximately SEK 25.5 million before issuance costs. The proceeds from the exercise of Warrants are intended to be used to secure results from the phase I part of Tumorad-01, which may support decisions regarding the focus and commencement of the phase IIa part of the study, as well as to further strengthen the organization as the Company takes the next step in the development of the Tumorad program.

The Tumorad development program aims to give more patients with cancer the opportunity for treatment with effective radionuclide therapy. The candidate drug Lu177-SN201 is based on the clinically effective isotope lutetium-177 linked to the Company's unique and clinically validated nanomaterial. Clinical results in the Company's second development program, SpagoPix, as well as non-clinical results in Tumorad show that the material is safe and accumulates in growing tumors, resulting in prolonged survival with Lu177-SN201 in various cancer models. The first clinical study in cancer patients is ongoing and the goal is to generate results at an early stage that support the continued clinical development.

Warrant exercise in brief

• The exercise period for the Warrants runs from May 17, 2024, to May 30, 2024.
• One (1) Warrant entitles the holder to subscribe for one (1) new share in the Company at a subscription price of SEK 0.20 per share.
• Trading of Warrants on Nasdaq First North Growth Market takes place until May 27, 2024.
• Warrants that are not exercised for subscription of new shares by May 30, 2024, expire without value.
• Holders of warrants who have their holdings nominee-registered (holdings in securities custody services, investment savings accounts (ISK) or endowment insurances) must notify the exercise of warrants by contacting their respective nominee and follow the nominee's instructions regarding subscription and payment. This should take place well before May 30, 2024, as different nominees have different processing times.
• Holders of warrants who have their holdings directly registered (holdings on a VP account) must notify the exercise of warrants by filling in and submitting an application form for the exercise, so that the application form is received by the issuing agent, Hagberg & Aneborn Fondkommission AB, no later than May 30, 2024. The Application form is available on the Company's, Hagberg & Aneborn Fondkommission AB's, and Redeye AB's respective websites ( www.spagonanomedical.se , www.hagberganeborn.se , www.redeye.se ).
• Upon full utilization of all Warrants, Spago Nanomedical will receive approximately SEK 25.5 million before issuance costs.
• The subscription price of SEK 0.20 per new share has been determined in accordance with the terms of the Warrants, under which the subscription price per new share shall equal seventy (70) percent of the volume-weighted average price (VWAP) of the Company's share on Nasdaq First North Growth Market during a period of ten (10) trading days immediately preceding, and including, May 16, 2024, however, not less than SEK 0.20 and not more than SEK 0.80 per share. Complete terms and conditions for the Warrants are available on the Company's website, www.spagonanomedical.se .

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