Coegin Pharma secures top guarantee and subscription commitments totalling approximately MSEK 1.5 regarding warrants of series TO3

Coegin Pharma AB announces that the company has entered into free of charge guarantee commitments (so-called "top-down" or "top guarantee") concerning warrants of series TO3, which can be exercised until Monday 30 September 2024 ("TO3"). The guarantee commitments total approximately TSEK 950, corresponding to about 5 percent of the issue proceeds the company can raise through the exercise of TO3.

Together with the previously announced subscription commitments on 16 September 2024, as well as additional commitments from management and key personnel amounting to approximately TSEK 600, the issue proceeds from the exercise of TO3 are secured to a total of approximately MSEK 11.2, corresponding to about 55 percent.

Coegin Pharma has entered into free of charge top guarantees regarding TO3 with a group of the company's larger shareholders. The guarantee commitments amount to approximately TSEK 950, corresponding to about 5 percent of the issue proceeds the company can raise through the exercise of TO3. In addition, the management team, including Jens Eriksson, Lars Bukhave Rasmussen, and John Zibert, as well as Prof. Jan Nilsson and Prof. Anna Hultgårdh, have entered into subscription commitments totalling approximately TSEK 600.

The guarantee commitments are thus added to the current subscription level for TO3 and are intended to ensure the exercise rate of TO3 to approximately MSEK 11.2 if TO3 is not utilised by the existing holders to the same extent.

Should the guarantee commitments be activated, shares will be issued through a directed new issue that will be carried out after the exercise period for TO3 has ended. Subscriptions in such a directed new issue will take place at the fixed price for TO3 and only to the extent that TO3 has not been utilised by existing holders within the framework of the guarantee commitment (corresponding to a maximum of 242 507 shares in the company). The board will not decide on the directed new issue to utilise the guarantee commitment unless the board deems it justifiable considering the usual issuance costs.

"We are pleased that, with the previous subscription commitments of MSEK 9.8 and these new guarantee commitments and subscription commitments, we have now secured a total of approximately MSEK 11.2. This strengthens our financial position and gives us the stability needed to continue our preparations for the launch of our hair growth project with Follicopeptide," says Jens Eriksson, CEO of Coegin Pharma.

Summary information brochures regarding the offer, as well as other material for investors, are available on Coegin Pharma's, Redeye AB's, and Nordic Issuing AB's respective websites (www.coeginpharma.se, www.redeye.se, www.nordic-issuing.se). Full terms and conditions for the warrants of series TO3 are available on the company's website.

Advisers
Redeye AB is acting as financial adviser in connection with the offerings. Advokatfirman Lindahl KB is acting as legal adviser to Coegin Pharma in connection with the offerings. Nordic Issuing AB is acting as issuing agent in the offerings.

­For further information, please contact:
Jens Eriksson, CEO
Email: [email protected]
Phone: +46 72 221 24 21

This document is a translation of the original Swedish press release. In case of any discrepancies, the Swedish version shall prevail.

About Coegin Pharma
Coegin Pharma is a Swedish biotech company with dermacosmetic innovations for hair growth and skin pigmentation, alongside groundbreaking drug candidates for the treatment of myocardial infarction and leukemia. Coegin is planning for the launch of its first product series for hair growth in 2025, followed by a skin pigmentation product in 2026. 

Coegin Pharma's shares are listed on NGM Nordic SME and Börse Stuttgart, and the company has a registered office in Lund, Sweden. 

For more information, please visit: coeginpharma.com/en

IMPORTANT INFORMATION
The information in this press release does not contain or constitute an offer to acquire, subscribe for, or otherwise trade in shares, warrants, or other securities in the company. The invitation to relevant persons to subscribe for units consisting of shares in the company and warrants has only been made through the prospectus published on 6 February 2024.