Cantargia announces final outcome of the company's significantly oversubscribed rights issue

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LUND, Sweden, Aug. 12, 2022 /PRNewswire/ -- The final outcome in Cantargia AB's (publ) ("Cantargia" or the "Company") (Nasdaq Stockholm: CANTA) rights issue of approximately SEK 250 million (the "Rights Issue"), is that 63,929,030 shares, corresponding to approximately 95.7 percent of the offered shares, have been subscribed for with the support of subscription rights after the end of the subscription period on 10 August 2022. The remaining 2,866,128 shares were subscribed for without the support of subscription rights, corresponding to approximately 4.3 percent of the offered shares. The Rights Issue was significantly oversubscribed by 44 percent. Thus, the guarantee commitments will not be utilized. Cantargia will receive approximately SEK 250 million before the deduction of transaction costs through the Rights Issue.

This financing further enhances Cantargia's financial position and enables us to continue developing the pipeline and to deliver additional milestone events. We are excited by the progress and recently published ASCO data on our lead program nadulinomab and look forward to providing further updates on nadunolimab and CAN10 as the projects progress. We are grateful for the demonstrable support of our existing shareholders and the significant interest shown from other investors, says Göran Forsberg, CEO of Cantargia.

The Rights Issue comprised a maximum of 66,795,158 shares, of which 63,929,030 shares, corresponding to approximately 95.7 percent of the offered shares, have been subscribed for with the support of subscription rights. The remaining 2,866,128 shares were subscribed for without the support of subscription rights, corresponding to approximately 4.3 percent of the offered shares. Together, subscriptions with the support of subscription rights and subscription applications without the support of subscription rights correspond to 144 percent of the offered shares in the Rights Issue. Thus, the guarantee commitments will not be utilized. Cantargia will receive approximately SEK 250 million before the deduction of transaction costs through the Rights Issue.