Scandion Oncology has announced the outcome of a rights issue of up to SEK93.7m. At the end of the subscription period (1 July 2022), approximately 80% of the rights issue has been subscribed, including c 66.5% from guarantors. Management has communicated that it has raised c SEK75m gross, which we estimate will result in a net cash injection of c SEK58m based on estimated transaction costs of SEK17m that were previously announced. Management will now register the rights issue with Danish authorities, at which point the total number of shares outstanding will be raised to 40.7m, an increase of 8.6m shares. We will adjust our forecasts and valuation once the final raise and fee amounts are included in the company's financial accounts. Management estimates that this cash injection will fund the company into 2024; however, we note this may vary according to clinical trial timelines. We value Scandion Oncology at SEK586.5m or SEK18.3 per share.Den vollständigen Artikel lesen ...
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