SpectraCure raises approximately SEK 140 million through a fully subscribed rights issue

SpectraCure AB's (publ) (Nasdaq First North Premier Growth Market: SPEC) ("SpectraCure" or the "Company") fully guaranteed new Units issue with preferential rights for the Company's existing shareholders (the "Rights Issue"), was fully subscribed. Through the Rights Issue, SpectraCure will receive proceeds amounting to approximately SEK 140 million before transaction costs.

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The result of the Rights Issue of maximum 8 746 613 Units with subscription price SEK 16, each consisting of one (1) share and one (1) share warrant of series TO4, shows that 6 049 285 new Units, corresponding to approximately 69,2 percent of the Rights Issue, have been subscribed for with unit rights. Additionally, 2 697 328 Units were subscribed for without unit rights, corresponding to 30,8 percent of the Rights Issue, of which 477 130 Units were subscribed by investors in accordance with the Guarantee commitments and 1 534 111 Units were subscribed by investors in accordance with the Top Guarantee commitments. Hence, the Rights Issue is fully subscribed. 

Notice of allotment for subscribed Units without subscription rights will be given by sent out settlement note and payment shall be made in accordance according to the instructions on the settlement note. Nominee-registered shareholders will receive notice of allotment and payment in accordance with the procedures of each nominee.

Provided Guarantee commitments and parts of the Company's financial adviser's fee will be compensated with newly issued Units on the same terms as in the Rights Issue. The Board of Directors intends to decide on such issue of Units on the basis of the authorization granted from the Extraordinary General Meeting on May 28, 2020. The total number of Units intended to be issued as compensation for the provided Guarantee commitments amounts to 793 858 and the compensation to the financial adviser amounts to 125 000, thus increasing the number of shares with 918 858 and the number of share warrants TO4 with 918 858.

Following the Rights Issue as well as the issuing of Units as compensation according to Guarantee commitments and the fee to the financial adviser, SpectraCure's share capital will increase by approximately SEK 966 547,1 to approximately SEK 9 713 160,8 and the number of shares will increase by 9 665 471 shares to 97 131 608 shares.

In total, 9 665 471 share warrants TO4 will be outstanding following the Rights Issue and the intended issue to the guarantors and the financial adviser.

If all share warrants TO4 were to be exercised, the number of shares may increase with additionally up to 4 832 735 and the share capital may increase by up to SEK 483 273,5.

Minor adjustments regarding above may be made in connection with the registration with the Swedish Companies Registration Office.

SpectraCure's CEO, Masoud Khayyami comments: "I am pleased with the strong support from both existing and new shareholders in the Rights Issue. The net proceeds from the completed issue provide SpectraCure with the financial resources needed to finance the preparation for and completion of a Phase 3 clinical trial, regulatory preparation for the FDA application for accelerated approval, and for the initiation of new clinical indications. Our ambition is to have our treatment approved in the European as well as the US market within two years and I look forward with confidence to our dedicated continuing work towards this."

Trading with BTU (paid subscribed unit) will take place on the Nasdaq First North Premier Growth Market until the Swedish Companies Registration Office has registered the Rights Issue, after which completion of trading will be announced through a market announcement. Registration of the issue is expected to take place around July 10, 2020, after which delivery of new shares and share warrants TO4 will take place. The newly issued shares and warrants will then be traded on Nasdaq First North Premier Growth Market.

Advisers
G&W Fondkommission acts as financial adviser in connection with the Rights Issue, e-mail: ca@gwkapital.se,ph: +46 (0)8 503 000 50. Advokatfirman Lindahl KB acts as legal adviser. Aqurat Fondkommission acts as issuing agent.

For further information please contact:

SpectraCure AB (publ), CEO, Masoud Khayyami, Mobile: +46(0) 70 815 21 90.

This information is such information that SpectraCure AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the Company's CEO at 13.30 CET on June 26, 2020.

Important information
The information in this press release does not contain or constitute an offer to acquire, subscribe for or otherwise trade in shares, subscription rights or other securities in SpectraCure. Any invitation to those entitled to subscribe for Units in SpectraCure has been made solely through the prospectus, which SpectraCure made public on June 3, 2020.

The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, within or into the United States, Japan, Canada, or in any other jurisdiction where such announcement, publication or distribution of the information may not comply with applicable laws and regulations or where such actions are subject to legal restrictions or would require additional registration or other measures than what is required under Swedish law. Measures contrary to this instruction may constitute a violation of applicable securities law. The securities referred to herein have not and will not be sold in the United States absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold within the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. 

The press release contains certain forward-looking statements that reflect the SpectraCure's current views or expectations with respect to future events and financial and operational performance. The words "intend", "estimate", "expect", "may", "plan", "anticipate" or similar expressions regarding indications or forecasts of future developments or trends, which are not statements based on historical facts, constitute forward-looking information. Forward-looking statements inherently involve both known and unknown risks and uncertainties as they depend on future events and circumstances. Forward-looking statements do not guarantee future results or development and the actual outcome could differ materially from the forward-looking statements.