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CombiGene announces outcome in rights issue

The information in this press release is not intended for publication, public release or distribution, directly or indirectly, in or into the USA, Canada, Japan, Australia, Hong Kong, New Zealand, Switzerland, Singapore, South Africa or any other jurisdiction where such publication or distribution would violate applicable laws or regulations. See the section “Important information” at the end of this press release.

The board of directors of CombiGene AB (publ) ("CombiGene” or the “Company”) today publishes the outcome in the new share issue with preferential rights for CombiGene’s existing shareholders (the “Rights Issue”) that was resolved upon by the board of directors on 8 March 2021 based on the authorization from the annual general meeting held on 29 June 2020. The Right Issue has been fully subscribed, which implies that CombiGene will receive proceeds of approximately MSEK 75 before issue costs. The outcome entails that CombiGene can advance its pipeline programs toward the potential value inflection points arising out of the final parts of CombiGene’s preclinical program for CG01 and in vivo studies in the lipodystrophy project CGT2.

The subscription period in the Rights Issue was completed on 31 March 2021. The final outcome shows that the Rights Issue was fully subscribed, of which 56.8 per cent were subscribed for with subscription rights, 4.2 per cent were subscribed for without subscription rights, 12.2 per cent were subscribed for without subscription rights through received subscription undertakings and 26.8 per cent were subscribed for by guarantors.
Through the Rights Issue, CombiGene raises approximately MSEK 75 before issue costs, which are estimated to amount to MSEK 9.3, and the Company’s share capital increases with SEK 16,674,692.6, from SEK 22,927,702.4 to SEK 39,602,395. The number of shares increases with 166,746,926 shares from 229,277,024 shares to 396,023,950 shares. Shareholders who did not to participate in the Rights Issue have thus had their shareholding diluted by approximately 42 per cent but have been able to financially compensate for this dilution by selling their subscription rights.
Trading in paid subscribed shares (BTAs) on Nasdaq First North Growth Market continues under the ticker COMBI BTA until the Rights Issue has been registered with the Swedish Companies Registration Office, which is expected to take place around 28 April 2021. Subsequently, BTAs will be converted to shares after approximately one week.
Allotment of shares subscribed for without subscription rights has been made in accordance with the principles set out in the EU Growth Prospectus that has been prepared for the Rights Issue and published by the Company on 15 March 2021. Notice of allotment is provided through the distribution of a settlement note by mail to the respective subscriber. Allotted shares shall be paid for in accordance with the instructions on the settlement note.

Vator Securities AB is financial adviser and Advokatfirmaet Schjødt AS, filial is legal adviser to CombiGene in connection with the Rights Issue. Hagberg & Aneborn Fondkommission AB is issuing agent in connection with the Rights Issue.
For more information:
Jan Nilsson, CEO
Tel: +46 (0)704 66 31 63

Bert Junno, chairman of the board of directors
Tel: +46 (0)707 77 22 09
About CombiGene
CombiGene’s vision is to provide patients affected by severe life-altering diseases with the prospect of a better life through novel gene therapies. CombiGene’s business concept is to develop effective gene therapies for severe life-altering diseases where adequate treatment is currently lacking. Development assets are sourced from an external research network and developed to achieve clinical proof of concept. Drug candidates for common diseases will be codeveloped and commercialized through strategic partnerships, while the company may manage this process on its own for drugs targeting niched patient populations. The company is public and listed on the Swedish marketplace Nasdaq First North Growth Market and the company’s Certified Adviser is FNCA Sweden AB, +46 (0)8 52 80 03 99,
Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares, subscription rights or other securities in CombiGene.
This press release may not be released, published or distributed, directly or indirectly, in or into USA, Canada, Japan, Australia, Hong Kong, New Zealand, Switzerland, Singapore, South Africa or any other jurisdiction where participation would require additional prospectuses, registration or measures besides those required by Swedish law. Nor may this press release be distributed in or into such countries or any other country or jurisdiction in which distribution requires such measures or otherwise would be in conflict with applicable regulations. Any failure to comply with the restrictions described may result in a violation of applicable securities regulations.
No subscription rights, paid subscription shares (Sw. Betalda tecknade aktier) or shares issued by CombiGene have been, or will be, registered under the U.S. Securities Act of 1933, as amended (the "Securities Act") or the securities legislation of any state or other jurisdiction of the United States and no subscription rights, paid subscription shares or shares may be offered, subscribed for, exercised, pledged, sold, resold, granted, delivered or otherwise transferred, directly or indirectly, in or into the United States. There will be no public offering of such securities in the United States. The securities referred to herein have not been approved or disapproved by the U.S. Securities and Exchange Commission (SEC), any state securities commission or other regulatory authority in the United States, nor have any of the foregoing authorities passed upon or endorsed the merits of the rights issue or the accuracy or adequacy of this announcement. Any representation to the contrary is a criminal offence in the United States.
This press release contains certain forward-looking information that reflects CombiGene’s present view of future events as well as financial and operational development. Words such as “intend”, “assess”, “expect”, “may”, “plan”, “believe”, “estimate” and other expressions entailing indications or predictions of future development or trends, not based on historical facts, constitute forward-looking information. Forward-looking information is inherently associated with both known and unknown risks and uncertainties as it depends on future events and circumstances. Forward-looking information is not a guarantee of future results or development and actual outcomes may differ materially from the statements set forth in the forward-looking information.


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