SynAct Pharma AB announces outcome of the directed share issues

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SynAct Pharma AB (“SynAct” or the “Company”) has today, in accordance with the intention announced in the Company’s press release on November 20, 2024, completed directed share issues totaling 5,191,003 shares, corresponding to approximately 45 MSEK before deduction of costs related to the share issues (the “Directed Issues”). The subscription price per share in the Directed Issues is 8.65 SEK per share.

Outcome
The general meeting of SynAct approved the Directed Issues of a total of 5,191,003 shares without preferential rights for existing shareholders on December 13, 2024, which the board of directors resolved on November 20, conditional upon the subsequent approval by the general meeting.[1] All shares have today been subscribed through subscription on a subscription list at a share price of 8.65 SEK per share. The subscription price is based on negotiations conducted at arm’s length between the Company and several major potential investors.

The planned first day of trading on Nasdaq Stockholm for the newly issued shares in the Directed Issues is on or around 23 December 2024, after the shares have been registered with the Swedish Companies Registration Office.

Number of shares and share capital
Through the Directed Issues, the number of outstanding shares will increase by 5,191,003 from 41,296,464 to 46,487,467 shares following the completion of the Directed Issues. The share capital will increase from 5,162,058.00 SEK to 5,810,933.38 SEK. The Directed Issues result in a dilution of approximately 11.2 percent of the total number of votes in the Company after the completion of the Directed Issues.

Prospectus
Approval of the prospectus for listing on Nasdaq Stockholm was obtained today, December 17, 2024, as previously announced. The prospectus pertains to the listing of, among other things, the shares issued in the Directed Issues.

Advisors
DNB Markets, a part of DNB Bank ASA, Sweden branch (”DNB Markets”) is acting as Financial Advisor to the Company and DLA Piper Sweden is acting as legal advisor in connection with the capital Raise.