Breaking News: Immunovia Sets Exercise Price for Warrants and Secures $65 Million in Funding!
Immunovia Announces Determined Exercise Price for Warrants Series TO 2 and Conditionally Securing $65 Million
LUND, Sweden, Dec. 28, 2024 /PRNewswire/ — Immunovia AB (publ) (“Immunovia” or the “Company”) hereby announces that the exercise price for warrants series TO 2 (the “warrants”) has been determined to SEK 0.46. The exercise period for the warrants commences on 2 January 2025 and runs up to and including 16 January 2025. The last day for trading in the warrants is 14 January 2025.
In addition to the subscription intentions from the Company’s CEO and board members, which were announced on 18 December 2024, encompassing approximately SEK 0.8 million, Immunovia has received a subscription commitment of approximately SEK 0.1 million and guarantee commitments totaling SEK 36.3 million from external professional investors, conditional on the approval from an extraordinary general meeting if needed. As such, the warrant programme is secured to approximately SEK 37.2 million, corresponding to approximately 65.0 per cent of the warrant programme.
Jeff Borcherding, CEO of Immunovia, comments: “Securing the TO2 warrants on reasonable terms reduces risk and enables us to achieve key milestones. The proceeds from the exercise of the TO2 warrants will fund preparations to introduce our next-generation test to the US market in the second half of 2025. This capital will also support clinical studies to bolster our efforts to obtain reimbursement for the test.”
Immunovia carried out a rights issue of units during August – September 2024 (the “Rights Issue”). Each unit issued in the Rights Issue consisted of two (2) shares, two (2) warrants series TO 2 and one (1) warrant series TO 3. One (1) warrant series TO 2 entitles the holder to subscribe for one (1) new share in the Company. If all warrants are exercised, Immunovia will receive approximately SEK 57.2 million before issue costs (the “Warrant Programme”).
The subscription price for the warrants was set at 70 percent of the volume-weighted average price for the Company’s share on Nasdaq Stockholm during the period 12 – 27 December 2024, however not more than an amount corresponding to 125 percent of the subscription price per share in the Rights Issue (SEK 0.63 per share). 70 percent of the volume-weighted average price during the pricing period amounted to approximately SEK 0.46 per share, and thus the subscription price is set at SEK 0.46 per share.
Impact on Individuals:
The move by Immunovia to set exercise prices for warrants and secure funding can potentially affect individuals who are involved in the healthcare and financial sectors. Investors holding warrants in Immunovia might find this announcement important as it could impact their investment decisions and potentially provide insights into the company’s future growth strategy.
Impact on the World:
On a global scale, the securing of $65 million in funding by Immunovia could have implications for the field of early cancer detection and research. By funding preparations for introducing next-generation tests into the US market and supporting clinical studies, Immunovia’s actions may contribute to advancements in the fight against pancreatic cancer. This can potentially have a positive impact on global healthcare outcomes and the development of innovative diagnostic technologies.
Conclusion:
In conclusion, Immunovia’s announcement regarding setting exercise prices for warrants and securing funding reflects the company’s strategic approach to advancing its diagnostic capabilities in the fight against pancreatic cancer. The impact of this decision can be seen at both individual and global levels, showcasing potential growth opportunities and advancements in the field of early cancer detection. As stakeholders continue to monitor these developments, the focus remains on achieving key milestones and making a positive impact on healthcare outcomes worldwide.
