Kurs & Likviditet
|Industri||Läkemedel & Handel|
|2021-07-23||Extra Bolagsstämma 2021|
|2021-04-29||Ordinarie utdelning DANCAN 0.00 DKK|
COPENHAGEN, Denmark, 05 October 2021 - The Board of Directors of DanCann Pharma A/S ("DanCann" or the "Company") has resolved to issue 2,207,399 units, based on the authorization granted by DanCann's extra general meeting on 23 July 2021 (the "Directed Issue of Units") and in accordance with the intention to carry out the Directed Issue of Units as communicated by the Company yesterday (04 October 2021). The subscription price in the Directed Issue of Units is 3.664 DKK per unit and has been determined through a 10-day Volume Weighted Average Price ("VWAP") based on a "accelerated book-building" procedure led by Corpura Fondkommission AB. Through the Directed Share Issue, DanCann will receive proceeds amounting to approximately 8 MDKK, before deductions for costs related to the Directed Share Issue.
Subscribers in the Directed Share Issue include new and existing well renowned Swedish and Danish investors.
The Directed Share Issue will strengthen the Company's financial position and enable the Company to accelerate market penetration through the acquisition of CannGros as well as future potential acquisitions.
The reasons for the deviation from the shareholders' preferential rights are mainly to further diversify the shareholder and at the same time, raise capital in a time-efficient manner. The subscription price per share corresponds to the VWAP for the share over a period of 10 trading days up to and including 4 September 2021, which was the last trading day before the Board of Director's decision on the Directed Issue of Units. The Board of Directors' assessment is that the subscription price in the Directed Issue of Units is in accordance with market conditions, since it has been determined through a 10-day VWAP based on a "accelerated book-building" procedure.
A total of 2,207,399 warrants are issued, each giving the right to subscribe for 1 share of nominally DKK 0.0375 at an exercise price of DKK 4.8685. The terms are the same is in the directed issue of units that was communicated on the 26th of July. The full set out terms applicable for the warrants are set out in the new Schedule 6.5.1 to the articles of association (which can be found on www.dancann.com//investor-relations-ir/general-meetings (http://www.dancann.com/investor-relations-ir/general-meetings)).
The completion of the Directed Issue of Units results in a dilution for existing shareholders of approximately 8,3 percent of the number of shares and votes in the Company after completion of the transaction, through an increase in the number of outstanding shares and votes of 2,207,399, from 24,343,619 to 26,551,018. The share capital increase from DKK 912,888 to approximately DKK 995,663.
Jeppe Krog Rasmussen, CEO of DanCann Pharma, comments:
We have worked extremely hard to make this a success, and I am very pleased with the result, both in terms of the acquisition of CannGros ApS and not least the new group of prominent investors that we have brought into the Company. It is important for me to emphasize that it has been a priority for DanCann Pharma that this acquisition should not affect the already existing budgets and raised capital, and for the same reason we have raised this capital solely for the acquisition of CannGros ApS.
Due to the great interest in the case, we have chosen to capitalize on this, we thank all parties involved. A great day for patients, the industry, our investors, and DanCann Pharma in general.
Corpura Fondkommission AB is the financial advisor of DanCann Pharma in connection with the directed issue of units. Andersen Partners Advokatpartnerselskab is acting as legal advisor. Nordic Issuing is acting as issuing agent. For additional information about the directed issue of shares, please contact:
Corpura Fondkommission AB
About DanCann Pharma
DanCann Pharma A/S (SS: DANCAN) was founded in 2018 and is a Danish biopharmaceutical Company powered by cannabinoids. DanCann Pharma is a vertically integrated, licensed production and distribution Company based in Denmark. The Company focuses on discovering, developing, manufacturing, and commercializing new therapeutic cannabinoids in a wide range of disease areas.
DanCann Pharma A/S (SS: DANCAN) is listed on the Spotlight Stock Market in Copenhagen. For more information, visit: www.dancann.com
For further information, please contact:
Jeppe Krog Rasmussen, CEO