OncoZenge has received partial payment of SEK 5.0 million for subscription proceeds in directed share issue and extends payment deadline
OncoZenge has received partial payment of SEK 5.0 million for subscription proceeds in directed share issue and extends payment deadline
The Board of Directors of OncoZenge AB (publ) ("OncoZenge" or the "Company") informs that it has received a partial payment of SEK 5.0 million of the subscription proceeds in the directed share issue of approximately SEK 15.1 million to Sichuan Yangtian Bio-Pharmaceutical Co., Ltd (the "Investor" or “Yangtian Pharma”), resolved by the Board and communicated on 5 June 2026 (the "Directed Share Issue"). Approximately SEK 10.1 million remains outstanding, and the Board has resolved to extend the payment deadline for this remaining amount to 17 July 2026.
The Company considers the partial payment a clear indication of the Investor's commitment and ability to fulfil its payment obligations, and views the extension as administrative in nature, with no expected adverse impact on the Company's liquidity or financial position.
“We are grateful to Yangtian Pharma and their CEO Mr. Zhang for showing shareholder responsibility by finding ways to support OncoZenge’s ongoing financing process, despite the administrative delays in the ongoing payment process. We now look forward to the local authority’s currency exchange approval so the full investment can be concluded”, commented Stian Kildal, OncoZenge’s CEO.
Background and reason for the extension
Payment for the subscribed shares was originally due on or before 26 June 2026. As previously communicated on 26 June and 3 July 2026, the Board has previously extended the deadlines. The extensions stem from the Investor's inability to complete the transfer due to the expiry of a currency exchange certificate with the State Administration of Foreign Exchange (SAFE), which is required to complete the transaction. According to the Investor, the certificate renewal is in progress, and the Investor holds all other requisite regulatory approvals for the Directed Share Issue—the SAFE renewal is an administrative matter and does not reflect any regulatory impediment to completing payment.
Partial payment details
The SEK 5.0 million received represents part of the subscription proceeds due by the Investor. This payment was possible despite the ongoing SAFE renewal because it was transferred in a currency other than SEK; the Company received a fixed SEK 5.0 million in its bank account and is not exposed to any currency exchange adjustment on the amount received.
The Company will inform the market once the full subscription proceeds have been received and the Directed Share Issue has been registered.