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Saniona Capital/Financing Update 2024
3195_rns_2024-12-16_4c0d1748-80aa-4dcb-b247-4e776f4ab182.pdf
Capital/Financing Update
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PRESS RELEASE
16 December 2024 08:00:00 CET
Saniona repays remaining debt and converts convertibles to Fenja Capital II A/S
Saniona (OMX: SANION), a clinical-stage biopharmaceutical company, today announces the repayment of its remaining debt of SEK 31.16 million to Fenja Capital II A/S ("Fenja Capital", formerly Formue Nord Fokus A/S). In parallel, Fenja Capital has requested conversion of outstanding convertibles totaling SEK 2 million into 647,249 new shares at a conversion price of SEK 3.09 per share. Following this milestone, Saniona's outstanding convertibles to Fenja Capital amount to SEK 6 million.
Thomas Feldthus, Chief Executive Officer of Saniona, comments:
"This marks a significant step forward for Saniona. Fenja Capital's continued trust and collaboration have been invaluable during a challenging period. Since 2022, we have worked together with Fenja Capital on reducing the original balance of SEK 87 million while extending the remaining loan in several rounds to protect shareholder value and dilution. With the repayment of the remaining loan, we are now positioned for a stronger future."
As a result of the conversion of convertibles, the number of shares in Saniona will increase by 647,249, from 111,885,501 to 112,532,750. The share capital will thereby increase by SEK 32,362.45, from SEK 5,594,275.05 to SEK 5,626,637.50. Thus, the conversion entails a dilution effect of approximately 0.58 per cent of Saniona's shares and votes.
After the conversion of convertibles, the outstanding nominal value of the convertibles will amount to SEK 6 million.
For more information, please contact
Thomas Feldthus, CEO, +45 22109957; [email protected]
About Saniona
Saniona (OMX: SANION) is a clinical-stage biopharmaceutical company leading the way in ion channel modulation for the treatment of epilepsy and other neurological disorders. Saniona's epilepsy pipeline includes SAN2219, targeting acute repetitive seizures; and SAN2355, addressing refractory focal onset seizures. Beyond epilepsy, Saniona oversees four clinical programs poised for collaboration. Tesofensine for obesity is Saniona's most advanced candidate and is out licensed to Medix in Mexico and Argentina. Tesomet™ is ready for Phase 2b, targeting rare eating disorders, while SAN903 is ready for Phase 1 for inflammatory bowel disease and SAN2465 is set for preclinical development for major depressive disorder. Saniona partners include Acadia Pharmaceuticals, Boehringer Ingelheim GmbH, Productos Medix S.A de S.V, AstronauTx Limited, and Cephagenix ApS. Saniona is based in Copenhagen and listed on Nasdaq Stockholm Main Market.
For more information, visit www.saniona.com.
Attachments Saniona repays remaining debt and converts convertibles to Fenja Capital II A/S
