Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Medicinteknik |
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The Board of Directors of Prostatype Genomics AB (“Prostatype Genomics” or the “Company”) today announces its intention to resolve on a rights issue of units (shares and two series of warrants), with preferential rights for existing shareholders, amounting to initially a maximum of approximately SEK 47.4 million before deduction of issue costs (the “Rights Issue”). The Board of Directors’ intention to resolve on the Rights Issue is subject to the shareholders at the upcoming annual general meeting, planned to be held on 22 June 2026 (the “AGM”), authorizing the Board of Directors to resolve on new share issues, etc. In total, the Rights Issue is covered by subscription commitments (with and without preferential rights) and underwriting commitments amounting to approximately SEK 33.15 million, corresponding to approximately 70 percent of the Rights Issue. Through the attached warrants of series TO6 and TO7, the Company may receive additional proceeds of up to approximately SEK 60 million before deduction of issue costs. The Board of Directors’ resolution and the final terms of the Rights Issue, including the subscription price, are expected to be announced on 29 June 2026. The purpose of the Rights Issue is to finance the continued Medicare approval process and commercialization activities in the United States and Europe. Notice of the AGM will be published through a separate press release. The Company also announces that its interim report will be postponed until 31 August 2026.
CEO Fredrik Rickman comments
”The rights issue we intend to carry out is an important step in securing the resources required to complete the ongoing Medicare process in the United States. Our assessment remains that we have good prospects of obtaining approval before year-end, which would represent an important milestone in the Company’s commercial development and in making our technology available to more patients in the U.S. At the same time, we are pleased to be able to carry out a financing in a market that continues to be characterized by caution, where we nevertheless experience interest in the Company’s long-term potential and the value our technology can create for patients and healthcare providers”, says Fredrik Rickman, CEO of Prostatype Genomics.
Summary
- The Board of Directors of Prostatype Genomics today announces its intention to resolve on the Rights Issue, subject to the shareholders at the AGM, planned to be held on 22 June 2026, authorizing the Board of Directors to resolve on new share issues, etc. Notice of the AGM will be published through a separate press release. Please note that the information in this press release is preliminary and only reflects the Board of Directors’ intentions as of the date of this press release.
- The Company’s shareholders will have preferential rights to subscribe for units in the Rights Issue in proportion to the number of shares held on the record date. Information regarding how many unit rights are received for a certain number of existing shares, as well as how many unit rights are required to subscribe for one unit, is expected to be announced on 29 June 2026.
- Upon full subscription, the Rights Issue is expected to provide Prostatype Genomics with approximately SEK 47.4 million before deduction of issue costs. The net proceeds from the Rights Issue will finance the Company’s ongoing Medicare approval process and commercialization activities in the United States and Europe.
- The subscription price in the Rights Issue is intended to correspond to a TERP discount of approximately 30 percent to the volume-weighted average price of the Company’s share on First North Growth Market during the period from and including 29 May 2026 up to and including 26 June 2026, however not lower than the quota value of the share. The warrants of both series TO6 and TO7 will be issued free of charge. The Board of Directors’ resolution and the final terms of the Rights Issue, including the subscription price, are expected to be announced on 29 June 2026.
- The subscription period for the Rights Issue is expected to run from and including 9 July 2026 up to and including 23 July 2026. The last day of trading in the Company’s share including the right to receive unit rights is expected to be 3 July 2026.
- In total, the Rights Issue is intended to be covered by subscription commitments and underwriting commitments amounting to approximately SEK 33.15 million, corresponding to approximately 70 percent of the Rights Issue. The subscription commitments, amounting to a total of approximately SEK 9.2 million, will partly be fulfilled through set-off of outstanding shareholder loans and related interest, amounting in total to approximately SEK 7.4 million.
- The Company will prepare and publish an information memorandum in connection with the Rights Issue.
Background and use of proceeds
To further strengthen the commercialization and marketing of Prostatype Genomics’ genetic test Prostatype® in the United States, the Company is awaiting Medicare reimbursement approval. Since the Company’s Medicare application was submitted, responses to supplementary questions have been submitted on an ongoing basis. The timing of approval is difficult for the Company to estimate, as it depends on processes within regulatory authorities in the United States. The Company is working with Swedish and U.S. legal counsel in the matter and, during Q2 2026, held an in-person meeting with representatives of Medicare. Based on this, the Company’s assessment is that it is reasonable to expect approval to be obtained during the current year. Once Medicare approval has been obtained, the Board of Directors believes that Prostatype Genomics is well positioned to commercialize Prostatype® in the U.S.
In order to finance the above-mentioned corporate development as well as repayment/conversion of outstanding bridge loans and related interest, Prostatype Genomics intends to carry out the Rights Issue, the maximum issue volume of which amounts to approximately SEK 47.4 million (before issue costs of approximately SEK 8.4 million, including cash compensation to guarantors). Through the proceeds received from the Rights Issue, the Company intends to finance the following:
- Medicare approval process
- Ongoing commercialization activities in the United States and Europe, as well as strengthening working capital and ongoing operational activities
- Repayment/conversion of bridge loans and interest, as well as payment of supplier debt
Through the proceeds received from warrants of series TO6 and TO7, the Company intends to finance the scaling-up of commercialization and organization in the United States as well as ongoing operating expenses. Subject to full subscription of the Rights Issue and full exercise of TO6 and TO7 at the maximum exercise price, the capital is expected to finance operations through Q4 2027.
Rights Issue
Subject to the AGM, planned to be held on 22 June 2026, authorizing the Company’s Board of Directors to resolve on new share issues and amendments to the articles of association, the Board of Directors is expected to resolve on the Rights Issue on 29 June 2026. The subscription period in the Rights Issue is expected to run from and including 9 July 2026 up to and including 23 July 2026 and is expected, upon full subscription, to provide the Company with approximately SEK 47.4 million before deduction of issue costs. The subscription price in the Rights Issue is intended to correspond to a TERP discount of approximately 30 percent to the volume-weighted average price on First North Growth Market during the period from and including 29 May 2026 up to and including 26 June 2026, however not lower than the quota value of the share.
The Board of Directors’ resolution and the final terms of the Rights Issue are expected to be announced on 29 June 2026. For additional information regarding the timetable, please refer below to the section “Indicative timetable for the Rights Issue” in this press release.
Subscription commitments and underwriting commitments
The Company has received subscription commitments, with and without preferential rights, from a number of existing major shareholders, including members of the Board of Directors, amounting to approximately SEK 9.2 million in total, corresponding to approximately 19.4 percent of the Rights Issue, conditional upon the Rights Issue being resolved. The subscription commitments will partly be fulfilled through set-off of outstanding shareholder loans and related interest, amounting in total to approximately SEK 7.4 million. No compensation will be paid for the subscription commitments entered into.
In addition, the Company has entered into an agreement regarding underwriting commitment with Vator Securities AB, on customary terms, conditional upon the Rights Issue being resolved, amounting in total to approximately SEK 23.9 million, corresponding to approximately 50.6 percent of the Rights Issue. For the underwriting commitment, a commission of 14 percent of the underwritten amount will be paid in cash compensation, alternatively 16 percent in the event the underwriter chooses compensation in the form of units in the Company. Vator Securities AB has the required authorization to act as underwriter and has entered into separate put option agreements with a number of investors for the transfer of any units allocated upon fulfillment of the aforementioned underwriting.
In total, the Rights Issue is intended to be covered by subscription commitments and underwriting commitments amounting to approximately SEK 33.15 million, corresponding to approximately 70 percent of the Rights Issue. The underwriting commitment consists of a so-called bottom underwriting, covering subscriptions up to approximately 70 percent of the Rights Issue. Neither the subscription commitments nor the underwriting commitment are secured through bank guarantees, blocked funds, pledges or similar arrangements.
Should the underwriter choose to receive underwriting compensation in the form of units, the Board of Directors intends to resolve on a directed issue of such units to the issuing guarantor. The terms of any such directed issue to the guarantor will correspond to the terms of the Rights Issue.
Warrants of series TO6
Warrants of series TO6 will be issued free of charge. One (1) TO6 entitles the holder to subscribe for one (1) new share. The exercise price shall correspond to 70 percent of the volume-weighted average price of the Company’s share on Nasdaq First North Growth Market during a measurement period of the ten (10) trading days ending two days before the beginning of the subscription period. However, the minimum exercise price shall correspond to the quota value of the share, and the maximum exercise price shall correspond to the subscription price determined in the initial Rights Issue.
TO6 may be exercised for subscription of new shares in Prostatype Genomics during the period from 1 September 2026 up to and including 15 September 2026. TO6 is intended to be admitted to trading on Nasdaq First North Growth Market. The last day of trading in TO6 is expected to be 11 September 2026.
Upon full exercise of warrants of series TO6 at the maximum subscription price, the Company may receive approximately SEK 11.8 million before deduction of issue costs, which are estimated to amount to a maximum of approximately SEK 0.6 million.
Complete terms and conditions for TO6 will be available on the Company’s website.
Warrants of series TO7
Warrants of series TO7 will be issued free of charge. One (1) TO7 entitles the holder to subscribe for one (1) new share. The exercise period for TO7 is event-driven, based on the receipt of Medicare approval, and the exercise price shall correspond to 70 percent of the volume-weighted average price of the Company’s share on Nasdaq First North Growth Market during a measurement period of the ten (10) trading days preceding the Company’s announcement of approval of the Company’s Medicare application. However, the minimum exercise price shall correspond to the subscription price determined in the initial Rights Issue, and the maximum exercise price shall correspond to a 100 percent increase compared to the minimum exercise price.
Primarily, an exercise period of ten (10) trading days shall commence three (3) trading days after approval of the Medicare application has been announced by the Company through a press release, though no earlier than 1 September 2026 and no later than 7 December 2026.
Secondarily, if approval of the Company’s Medicare application has not been announced and no exercise period has been established within the timeframes set out above, the exercise period shall commence on 7 December 2026 and continue for ten (10) trading days up to and including 21 December 2026. In such case, the exercise price shall correspond to 70 percent of the volume-weighted average price (VWAP) of the Company’s share during the ten trading days ending two days before the commencement of the exercise period on 7 December 2026.
The terms above mean that the ten (10) trading day exercise period for TO7 may commence no earlier than 1 September 2026 and no later than 7 December 2026.
Upon full exercise of warrants of series TO7 at the maximum subscription price, the Company may receive approximately SEK 47.4 million before deduction of issue costs, which are estimated to amount to a maximum of approximately SEK 2.2 million.
TO7 is intended to be admitted to trading on Nasdaq First North Growth Market. The last day of trading in TO7 is expected to be no later than 17 December 2026.
Complete terms and conditions for TO7 will be available on the Company’s website.
Directed issue in the event of oversubscription
In the event that the Rights Issue is oversubscribed and persons/companies that have entered into subscription commitments without preferential rights are not allocated units (in whole or in part) to a sufficient extent to fulfill their commitments, the Company intends to resolve on a separate directed issue of units (a so-called over-allotment issue). The terms of any such directed issue of units will correspond to the terms of the Rights Issue.
Indicative timetable for the Rights Issue
- AGM to resolve, inter alia, on authorizing the Board of Directors to resolve on new share issues: 22 June 2026.
- Board resolution on the Rights Issue and announcement of final terms for the Rights Issue: 29 June 2026.
- Publication of information memorandum: 30 June 2026.
- Last day of trading in Prostatype Genomics shares including the right to receive unit rights: 3 July 2026.
- First day of trading in Prostatype Genomics shares excluding the right to receive unit rights: 6 July 2026.
- Record date for participation in the Rights Issue: 7 July 2026.
- Subscription period: 9-23 July 2026.
- Trading in unit rights: 9-20 July 2026.
- Trading in BTUs: from and including 9 July 2026 until the Rights Issue has been registered with the Swedish Companies Registration Office. The last day of trading in BTUs will be announced through a separate press release after completion of the Rights Issue.
- Press release announcing the outcome of the Rights Issue: around 24 July 2026.
- First day of trading in TO6 and TO7: around 14 August 2026.
Information memorandum
An information memorandum containing the complete terms and conditions of the Rights Issue will be published through a separate press release no later than the day before the subscription period commences and will be available on the Company’s website (www.prostatypegenomics.com).
Information to investors pursuant to the Swedish Foreign Direct Investment Screening Act (2023:560)
As the Company conducts activities deemed worthy of protection under the Swedish Foreign Direct Investment Screening Act (2023:560), certain investments in the Rights Issue may need to be reviewed by the Inspectorate of Strategic Products (ISP). For more information, please visit the ISP website, www.isp.se, or contact the Company.
Postponement of interim report
In light of the planned Rights Issue, the Board of Directors has decided to postpone the interim report until 31 August 2026. The previously announced date was 23 July 2026.
Advisors
Navia Corporate Finance AB and Birchtree Advisory AB are financial advisors and Bookrunners in connection with the Rights Issue. Advokatfirman Lindahl is the legal advisor. Vator Securities AB is the issuing agent.
For morte information about the Rights Issue, please contact:
Navia Corporate Finance AB
E-mail: [email protected]
Website: www.naviacorporatefinance.com
or
Birchtree Advisory AB
E-mail: [email protected]
Website: www.birchtreeadvisory.se
For more information about the Company, please contact:
Fredrik Rickman, VD Prostatype Genomics AB
Phone: +46 (0)73 049 77 01
E-mail: [email protected]
Certified Adviser
Tapper Partners AB
Phone: +46 (0)70 44 010 98
E-mail: [email protected]
About Prostatype Genomics
Prostatype® is a genetic test that is available to patients and treating urologists as a complementary decision basis for the question of treatment or non-treatment of prostate cancer. The test was developed by a research group at Karolinska Institutet and is provided by Prostatype Genomics AB.
Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe for, or otherwise trade in shares, warrants, or other securities in Prostatype Genomics. No action has been taken, and no action will be taken, to permit an offer to the public in any jurisdiction other than Sweden. The invitation to interested persons to subscribe for shares in Prostatype Genomics will only be made through the information memorandum that Prostatype Genomics intends to publish around 30 June 2026.
The information in this press release may not be released, published, or distributed, directly or indirectly, in or into the United States, Belarus, Russia, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa, or any other jurisdiction where such action would be unlawful, subject to legal restrictions, or require measures other than those required under Swedish law. Actions in violation of these restrictions may constitute a violation of applicable securities laws. No shares or other securities in Prostatype Genomics have been registered, and no shares or other securities will be registered, under the United States Securities Act of 1933, as amended (the “Securities Act”), or the securities laws of any state or other jurisdiction in the United States, and may not be offered, sold, or otherwise transferred, directly or indirectly, in or into the United States except pursuant to an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and in compliance with the securities laws of the relevant state or other jurisdiction in the United States. This press release is distributed and directed only to persons in the United Kingdom who are (i) investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) high net worth entities and other persons to whom this press release may lawfully be communicated, falling within Article 49(2)(a)-(d) of the Order (all such persons together being referred to as “Relevant Persons”). Persons who are not Relevant Persons must not act on or rely on the information contained in this press release. Any investment or investment activity to which this press release relates is available only to Relevant Persons and will only be engaged in with Relevant Persons. Persons distributing this communication must satisfy themselves that such distribution is lawful.
Forward-looking statements
This press release contains forward-looking statements concerning the Company’s intentions, assessments, or expectations regarding the Company’s future results, financial position, liquidity, development, prospects, expected growth, strategies, and opportunities, as well as the markets in which the Company operates. Forward-looking statements are statements that do not relate to historical facts and may be identified by the use of terms such as “believes,” “expects,” “anticipates,” “intends,” “estimates,” “will,” “may,” “assumes,” “should,” “could,” and, in each case, their negative forms, or similar expressions. The forward-looking statements in this press release are based on various assumptions, many of which are in turn based on further assumptions. Although the Company believes that the assumptions reflected in these forward-looking statements are reasonable, there can be no assurance that they will materialize or prove to be correct. Because these assumptions are based on assumptions or estimates and are subject to risks and uncertainties, actual results or outcomes may differ materially from those expressed in the forward-looking statements for a variety of reasons.
Such risks, uncertainties, unforeseen events, and other significant factors may cause actual events to differ materially from the expectations expressed or implied in this press release through the forward-looking statements. The Company does not guarantee that the assumptions underlying the forward-looking statements in this press release are correct, and readers of this press release should not place undue reliance on the forward-looking statements contained herein. The information, opinions, and forward-looking statements expressed or implied in this press release speak only as of the date of this press release and are subject to change. Neither the Company nor any other party undertakes to review, update, confirm, or publicly announce any revision to any forward-looking statement to reflect events that occur or circumstances that arise in relation to the contents of this press release, except as required by law or the Nasdaq First North Growth Market Rulebook for Issuers.