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Egetis is an innovative and integrated pharmaceutical company, focusing on projects in late-stage development for commercialization for treatments of serious diseases with significant unmet medical needs in the orphan drug segment

Egetis Therapeutics has resolved on directed issues of warrants and a convertible bond within the framework of the drawdown of Tranche A of the previously communicated debt financing

November 7, 2023

Stockholm, Sweden, November 7, 2023. On October 10, 2023, Egetis Therapeutics AB (publ) (“Egetis” or the “Company”) (Nasdaq Stockholm: EGTX) announced that the Company had secured a debt financing from BlackRock (formerly Kreos) (“BlackRock”) (the “Debt Financing”). The Debt Financing is divided into two tranches, EUR 10 million (“Tranche A”) and EUR 15 million (“Tranche B”) which will become available provided that the Company reaches certain milestones. A part of Tranche A is made available through the issuance of a convertible loan of EUR 3 million, which can be converted in to shares in the Company. As part of the Debt Financing, BlackRock will receive warrants, which entitles to subscription of new shares in the Company, whereof 1,090,977 warrants for Tranche A.
Egetis has delivered a drawdown notice to BlackRock for the drawdown of Tranche A of the Debt Financing on November 30, 2023. Payment will be subject to customary conditions precedent. Furthermore, the Board of Directors of Egetis has, based on the authorisation granted by the annual general meeting on April 27, 2023, resolved on a directed issue of 1,090,977 warrants and a directed issue of a convertible bond to BlackRock within the framework of Tranche A of the Debt Financing, as part of the conditions precedent for the drawdown of Tranche A of the Debt Financing. The warrants are issued free of charge and each warrant entitles the holder to subscription of one share. The warrants will be subject to customary recalculation terms and may be exercised prior to the tenth anniversary of the date of grant at a strike price of SEK 4.26 per share. The convertible bond will be subscribed for by payment of its nominal amount of EUR 3 million and the conversion price has been set to approximately EUR 0.5133 per share.
The issue of the warrants and the convertible bond entails, upon full exercise and conversion, a dilution of approximately 2.3 percent after full dilution.



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