Rights Issue 2021
On 16 November 2020, OncoZenge AB announced that the company had secured financing for a total of approximately SEK 70 million prior to special listing on the Nasdaq First North Growth Market, with a first day for trading on 12 February 2021. On March 9, 2021, the outcome of the rights issue was announced, which was oversubscribed by approximately 170 percent and no underwriting warrants have had to be used.
Download related documents:
Prospectus (in English)
Prospekt (in Swedish)
Tilläggsdokument (in Swedish)
Application form for subscription with the support of subscription rights (in Swedish)
Application form for subscription without the support of subscription rights (in Swedish)
Additional material about OncoZenge:
BioStock interview from 18/2 2021 (in Swedish)
Interview with CEO Pirkko Tamsen from February 4th 20201
Videopresentation from November 25th 2020
Listing on Nasdaq First North Growth Market
OncoZenge is trading on Nasdaq First North Growth Market, since February 12, 2021, under the shortname "ONCOZ" with ISIN: SE0015504097.
Terms for the Rights Issue
The Board of Directors of OncoZenge has today, with the support of the authorization from the Extraordinary General Meeting on January 21, 2021, decided on the final terms of the Rights Issue. The right to subscribe for shares with preferential rights shall vest in those who are registered as shareholders in OncoZenge on the record date for the Rights Issue, whereby one (1) existing share held in OncoZenge entitles to one (1) subscription right and one (1) subscription right entitles to subscription of one (1) new share. The subscription price amounts to SEK 10.25 per share, which entails that OncoZenge will receive approximately SEK 60 million before issue costs from the Rights Issue.
The record date for the right to participate in the Rights Issue is February 17, 2021. Subscription shall take place during the period from and including February 19, 2021 up to and including March 5, 2021. Last day for trading in OncoZenge's share including the right to participate in the Rights Issue is February 15, 2021. Subscription rights are traded on Nasdaq First North Growth Market during the period from and including February 19, 2021, up to and including March 2, 2021. Subscription rights that are not exercised during the subscription period will become invalid and lose their value.
If not all shares are subscribed for with support of subscription rights, the remaining shares, within the framework of the maximum amount of the Rights Issue, shall be allotted: firstly, to those who have subscribed for shares with support of subscription rights (regardless of whether they were shareholders on the record date or not) and who have applied for subscription of shares without support of subscription rights and in the event that allotment to these cannot be made in full, the allotment shall be made pro rata in relation to the number of subscription rights that each of those who has applied for subscription of shares without support of subscription rights has exercised to subscribe for shares; secondly, to others who have only applied for subscription of shares without support of subscription rights and in the event that allotment to these cannot be made in full, allotment shall be made pro rata in relation to the total number of shares that the subscriber has applied for subscription of; and thirdly to those who have undertaken to guarantee subscription of shares in the Rights Issue, in proportion to such guarantee undertakings. To the extent that allotment at any stage according to the above cannot be made pro rata, allotment shall be made by drawing lots.
Subscription and guarantee commitments
In connection with the Rights Issue, existing shareholders in OncoZenge, including Östersjöstiftelsen, Linc AB and John Fällström, have entered into subscription and guarantee commitments totalling approximately SEK 60 million, which entails that the Rights Issue is fully secured. In addition, all members of the Board and management intend to participate in the Rights Issue. Management members are using any proceeds from unused subscription rights to subscribe for additional shares in the rights issue.
Complete terms and conditions for the Rights Issue as well as other information about OncoZenge and the listing on Nasdaq First North Growth Market is stated in the prospectus which was published on February 8th, 2021.
Change in share capital and number of shares
Through the Rights Issue, OncoZenge's share capital increases by approximately SEK 650,736, from approximately SEK 650,736 to approximately SEK 1,301,472. The number of shares in the Company increased by 5,856,622 shares, from 5,856,622 shares to 11,713,244 shares. The outcome shows that a total of 5,349,884 shares, corresponding to approximately 91 percent of the Rights Issue, were subscribed for with the support of subscription rights. In addition, a total of 10,491,238 shares were subscribed for, corresponding to approximately 179 percent of the Rights Issue, without the support of subscription rights. The rights issue is thus oversubscribed by approximately 170 percent and no issue guarantees have had to be used. OncoZenge will thus receive approximately SEK 60 million from the Rights Issue before deduction of issue costs.
Timetable for the Rights Issue and the listing on Nasdaq First North Growth Market
February 8, 2021 Publication of prospectus
February 12, 2021 First day of trading on Nasdaq First North Growth Market
February 15, 2021 Last trading day in OncoZenge with the right to receive subscription rights
February 16, 2021 First trading day in OncoZenge without the right to receive subscription rights
February 17, 2021 Record date for participation in the Rights Issue
February 19 – March 5, 2021 Subscription period
February 19 – March 2, 2021 Trading in subscription rights
March 9, 2021 The outcome of the Rights Issue was announced