Cereno Scientific (Nasdaq First North: CRNO B) ("the Company"), an innovative biotech pioneering treatments to enhance and extend life for people with rare cardiovascular and pulmonary diseases, announces today that Arena Investors, LP ("Arena") has requested exercise of 728,957 warrants of series 2024/2029, which were issued to Arena in connection with the financing agreement (the "Financing Agreement") being entered into on November 11, 2024. The new Class B shares is in the process of being registered by the Swedish Companies Registration Office (Bolagsverket). Cereno Scientific receives approximately SEK 5 million.
As part of the Financing Agreement, a total of 5,749,017 warrants of series 2024/2029 were issued to Fenja Capital II A/S and Arena. Each warrant is eligible for subscription of one (1) new Class B-share in the company until 30 April 2029 at a subscription price per Class B-share of 6.82 SEK, subject to customary recalculation principles. Exercise of the warrants can be done during the whole term of the warrants.
Arena has requested exercise of 728,957 warrants corresponding to a total amount of approximately SEK 5 million. Previously, Arena has exercised 600,000 warrants corresponding to approximately SEK 4 million. Arena has 1,833,002 warrants of series 2024/2029 remaining, and in total there are 4,420,060 warrants of series 2024/2029 remaining.
Through the exercise of the warrants, the number of Class B shares in Cereno Scientific increases by 728,957 Class B shares, from 310,202,787 to 310,931,744 Class B shares, and the share capital increases by SEK 72,895.70, from SEK 31,092,503.50 to SEK 31,165,399.20. The total number of votes in Cereno Scientific has increased by 728,957 votes, from 317,425,267 to 318,154,224 votes. This corresponds to a dilution effect of approximately 0.23 per cent of the currently outstanding shares in the Company and approximately 0.23 per cent of the currently outstanding votes in the Company. The total number of shares in the Company after the exercise of warrants is 311,653,992, of which 772,248 Class A shares and 310,931,744 Class B shares.
Further information regarding the Financing Agreement can be found in the Company's press releases: Cereno Scientific secures minimum 250 MSEK loan financing to reach set milestones into 2026 (November 11, 2024), Cereno Scientific secures 100 MSEK through additional loan financing and conversion to advance HDAC inhibitors CS1 and CS014 in Phase II (June 20, 2025) and Cereno Scientific receives SEK 4 million through exercise of 600,000 warrants by Arena Investors, LP (November 11, 2025).
Registration with the Swedish Companies Registration Office
The Class B shares will be registered with the Swedish Companies Registration Office and the delivery of the Class B shares will be carried out without delay to the custody accounts designated by Arena upon registration.
For further information, please contact:
Tove Bergenholt, Head of IR & Communications
Email: tove.bergenholt@cerenoscientific.com
Phone: +46 73- 236 62 46
About Cereno Scientific AB
Cereno Scientific is pioneering treatments to enhance and extend life. The company's innovative pipeline offers disease-modifying drug candidates to empower people suffering from rare cardiovascular and pulmonary diseases to live life to the fullest.
Lead candidate CS1 is an HDAC inhibitor that works through epigenetic modulation and represents a novel therapeutic approach by targeting the root mechanisms of the pulmonary arterial hypertension (PAH). CS1 is a well-tolerated oral therapy with a favorable safety profile that has shown encouraging efficacy signals of reverse vascular remodeling, improvement of right heart function and enhanced patient quality of life in a Phase IIa trial in patients with PAH. An Expanded Access Program enables patients that have completed the Phase IIa trial to gain access to CS1. CS014, a new chemical entity with disease-modifying potential, showed favorable safety and tolerability profile in a Phase I trial. CS014 is a HDAC inhibitor with a multimodal mechanism of action as an epigenetic modulator having the potential to address the underlying pathophysiology of rare cardiovascular and pulmonary diseases with high unmet needs such as idiopathic pulmonary fibrosis (IPF). Cereno Scientific is also pursuing a preclinical program with CS585, an oral, highly potent and selective prostacyclin (IP) receptor agonist that has demonstrated the potential to significantly improve disease mechanisms relevant to cardiovascular diseases. While CS585 has not yet been assigned a specific indication for clinical development, preclinical data indicates that it could potentially be used in indications like thrombosis prevention without increased risk of bleeding.
The Company is headquartered in GoCo Health Innovation City, in Gothenburg, Sweden, and has a US subsidiary; Cereno Scientific Inc. based in Kendall Square, Boston, Massachusetts, US. Cereno Scientific is listed on the Nasdaq First North (CRNO B). The Company's Certified Adviser is DNB Carnegie Investment Bank AB, certifiedadviser@carnegie.se. More information can be found on www.cerenoscientific.com.
