The board of directors of Cereno Scientific AB (publ) (“Cereno”) has issued the second tranche of convertible bonds with warrants attached, amounting to SEK 3,500,000, to European High Growth Opportunities Securitization Fund, in accordance with the financing solution announced by Cereno through a press release on 19 March 2018.
The convertible bonds are issued at a price corresponding to 100 percent of the nominal value, which means that Cereno will be provided with SEK 3,500,000. Conversion of the convertible bonds may be requested, in full or in part, by the convertible holder during the twelve months period immediately following registration of the convertible bonds by the Swedish Companies Registration Office. The conversion price amounts to 93 percent of the lowest daily VWAP according to the AktieTorget’s market official price list for the share of class B in the Company during the fifteen (15) trading days preceding the day for the demand for conversion.
The convertible bonds are issued with 125,000 warrants attached, that entitle European High Growth Opportunities Securitization Fund to subscribe for additional 125,000 ordinary shares of series B within five years, at a subscription price of SEK 8,4 per share. The warrants are issued free of charge. At full exercise of the warrants, Cereno will be provided with approximately SEK 1,050,000 corresponding to 30 percent of the nominal amount of the convertible bonds.
The board’s issue resolutions have been made based on the authorization from the shareholders’ meeting on 19 April 2018.
About Cereno Scientific AB
Cereno Scientific is developing a novel preventive medicine to treat thrombosis-related disease, based on the body’s own intelligent clot-busting system. Cardiovascular disease is currently the leading cause of death worldwide. Current therapies are connected to an increased risk of bleeding and, as a result, low effectiveness due to lower dosing levels. In turn, this leads to a high risk of new blood clots. The benefit with Cereno Scientific’s drug candidate, CS1, is an improved balance between preventing thrombosis and treatment-related side effects – leading to more effective treatment. CS1 is a re-formulation of a known compound and, as such, is expected to have a relatively short development time. The Gothenburg-based company is located in AstraZeneca’s BioVentureHub and is supported by GU Ventures. Cereno Scientific’s B share has been listed on AktieTorget since June 2016 with the ticker CRNO B, ISIN SE0008241558.
This information is such that Cereno Scientific AB is required to make public in accordance with the EU’s market abuse regulation (MAR) and the Swedish Securities Market Act. The information was made available publically by the Company’s contact person on 18 may 2018.