Today, June 10, 2025, Magnasense AB (the "Company") issued a press release with information that the Company has signed a letter of intent regarding a reverse takeover of SUBGEN AI LIMITED.
According to item 2.5.1 of the Nasdaq First North Growth Market Rulebook, the Exchange may for an issuer that undergoes substantial changes initiate a renewed review process of the issuer's fulfilment of applicable admission requirements. With reference to the above, the Exchange has decided that the Company shall undergo such a review process, after which the Exchange will decide whether to admit the Company's shares for continued trading on Nasdaq First North Growth Market.
The rules of Nasdaq First North Growth Market also state that an issuer may be given observation status if it has been the subject of a reverse take-over or otherwise plans to make or has been subject to an extensive change in its business or organization so that the issuer upon an overall assessment appears to be an entirely new company.
With reference to the above, Nasdaq Stockholm AB has decided that the shares (MAGNA, ISIN code SE0014401121, order book ID 197200) and warrants (MAGNA TO 5, ISIN code SE0024788780, order book ID 408545, and MAGNA TO 6, ISIN code SE0024788798, order book ID 408546) in Magnasense AB shall be given observation status.
For further information about this exchange notice please contact Enforcement & Investigations, telephone +46 8 405 70 50.
