Saniona’s rights issue completed

PRESS RELEASE

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA, JAPAN OR ANY OTHER JURISDICTION IN WHICH THE RELEASE, DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL OR REQUIRE REGISTRATION OR ANY OTHER MEASURE.

June 28, 2019

Saniona AB ("Saniona” or "the Company”) today announces that the new share issue with preferential rights for existing shareholders has been completed. The rights issue was subscribed for to 85 percent, providing Saniona with gross proceeds of approximately MSEK 66.5. A total of approximately MSEK 45.2, corresponding to 57.7 percent of the rights issue, was subscribed for with subscription rights. A total of approximately MSEK 20.7, corresponding to 26.4 percent of the rights issue, was subscribed for without subscription rights and the remaining part of the gross proceeds, corresponding to approximately MSEK 0.7, or 0.8 percent of the total rights issue, was subscribed for by guarantors.

Shares subscribed for without subscription rights will be allotted in accordance with the principles stated in the prospectus prepared in connection with the new rights issue and published on 7 June 2019. Notification of allotment of shares subscribed for without subscription rights is expected to be initiated on or about July 1, 2019.

Through the rights issue the Company’s share capital increases by SEK 184,855.45, to a total of SEK 1,388,167.35 and number of shares by 3,697,109.00, to a total of 27,763,347.00 when the rights issue is registered with the Swedish Companies Registration Office. Paid subscribed share (BTA) will be converted to new shares after the registration. Trading in the new shares issued through the rights issue is expected to take place on or about July 10, 2019.  

Jørgen Drejer, Saniona’s CEO, says: "The rights issue was important to secure Saniona’s financing requirements and to be able to complete the ongoing Phase 2a studies with Tesomet for the treatment of Prader-Willi syndrome and hypothalamic obesity and initiate discussions with regulatory agencies for start of Phase 2b/3 studies in 2020, as well as to progress the other programs, internally or together with partners.”

Financial and legal advisors

ABG Sundal Collier AB is financial advisor and Setterwalls Advokatbyrå AB is legal advisor to Saniona.

For more information, please contact

Thomas Feldthus, EVP and CFO, Saniona, Mobile: +45 2210 9957, E-mail: tf@saniona.com

This information is such information as Saniona AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 04:05 p.m. CET on June 28, 2019.

About Saniona

Saniona is a research and development company focused on drugs for diseases of the central nervous system and eating disorders. The company has five programs in clinical development. Saniona intends to develop and commercialize treatments for orphan indications such as Prader-Willi syndrome and hypothalamic obesity on its own. The research is focused on ion channels and the company has a broad portfolio of research programs. Saniona has partnerships with Boehringer Ingelheim GmbH, Productos Medix, S.A de S.V and Cadent Therapeutics. Saniona is based in Copenhagen, Denmark, and the company’s shares are listed at Nasdaq Stockholm Small Cap (OMX: SANION). Read more at www.saniona.com.

IMPORTANT INFORMATION

The information in this press release does not contain or constitute an offer to acquire, subscribe or otherwise trade in shares or other securities in Saniona. No action has been taken and measures will not be taken to permit a public offering in any jurisdictions other than Sweden and Denmark. Invitation to the persons concerned to subscribe for shares in Saniona has only been made through the prospectus that Saniona published on 7 June 2019.

The information in this press release may not be released, distributed or published, directly or indirectly, in or into the United States, Australia, Canada, Japan or any other jurisdiction in which such action would be unlawful or would require registration or any other measures than those required by Swedish and Danish law. Actions in violation of these restrictions may constitute a violation of applicable securities laws.

No shares or other securities in Saniona 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 legislation of any state or other jurisdiction in the United States and no shares or other securities may be offered, sold or otherwise transferred, directly or indirectly, in or into the United States, except under an available exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and in compliance with the securities legislation in the relevant state or any other jurisdiction of the United States.

In any EEA Member State other than Sweden and Denmark that has implemented the Prospectus Directive, this communication is only addressed to and is only directed at qualified investors in that Member State
within the meaning of the Prospectus Directive, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State.

This communication is only being distributed to and is only directed at persons in the United Kingdom that are (i) investment professionals falling within 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 announcement may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.

This press release may contain forward-looking statements which reflect Saniona’s current view on future events and financial and operational development. Words such as "intend”, "expect”, "anticipate”, "may”, "believe”, "plan”, "estimate” and other expressions which imply indications or predictions of future development or trends, and which are not based on historical facts, are intended to identify forward-looking statements. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.

Attachment

• 20190628 - PR - Rights issue result - UK