Cessatech

Background
Cessatech completed a rights issue of units during the third quarter of 2022. Within the scope of the rights issue, Cessatech issued 3,667,485 warrants of series TO2. Furthermore, Cessatech issued an additional 170,625 warrants of series TO2 to guarantors in the rights issue who choose to receive guarantee compensation in units. One (1) warrant of series TO2 gave the owner the right to subscribe for one (1) new share in the Company. The exercise price for the warrants of series TO2 was set as 70 percent of the volume-weighted average price in the Company’s share on Spotlight Stock Market from the announcement of the 0205 study data and the following ten trading days, but at least DKK 2.00 and no more than DKK 6.00. The 0205 study data were announced on December 22, 2024. During the pricing period which ran from December 27, 2023 to January 10, 2024, the volume-weighted average price in the Company's share was DKK 6.73. Therefore, the exercise price for the warrants of series TO2 was set to DKK 4.71.

Outcome
In total 3,636,339 TO2 Warrants were exercised for subscription of 3,636,339 shares, meaning that approximately 94.7 percent of all outstanding Warrants were exercised for subscription of shares. Cessatech receives approximately DKK 17.1 million in gross proceeds. Exercised warrants have been replaced with interim shares (IA), pending registration with the Danish Companies Office. The interim shares are expected to be converted to shares within approximately three weeks.

Number of shares, share capital and dilution
Through the exercise of the Warrants, the number of shares in Cessatech increases by 3,636,339 shares, from 13,787,755 shares to a total of 17,425,094 shares. The share capital will increase by DKK 727,268 from DKK 2,757,751 to DKK 3,485,019.

Jes Trygved, CEO in Cessatech says: “We are very pleased with the outcome of the warrant exercise, especially as the capital market is still somewhat uncertain. We anticipate that this year could be a breakthrough year for Cessatech and with the additional capital, we believe that we are in a very good position to be able to fulfill our commitments going forward. We want to thank our investors for their belief in our journey and future plans. Next up is to initiate the final study 0202, basically all is ready and prepared so hopefully it can take place by the end of Q1 2024, together with the final preparations of CMC and device activities before we initiate the regulatory process.”

Advisors
Translution Capital acts as financial advisors to the Company in connection with the warrant exercise. Nordic Issuing is the Company’s issuing agent whereas Elmann Law Firm is the Company’s legal advisor in connection with the warrant exercise.