EXACT Therapeutics AS: Private placement successfully placed
Summary
EXACT-Tx is pleased to announce that the PrivatePlacement has been successfully placed through an allocation of 31,182,795OfferShares, at a subscription price of NOK 4.65 per Offer Share for total grossproceeds of NOK 145 million, and 13,364,041 non-tradable warrants (the"Warrants") which gives the participants in the Private Placement a right tosubscribe for additional shares at a 20% discount to the 3-month volumeweightedaverage market price at the announcement of the initial safety read-out.The net proceeds from the Private Placement will be used to (i) initiate andconclude the upcoming Phase 2 ENACT trial in locally advanced pancreaticcancer,including development of medical device equipment with GEHC for abdominaloncology applications, for pivotal trial and commercialisation, (ii) exploreanddevelop the ACT\xae platform within selected additional high-value areas throughpreclinical studies, including glioblastoma, and (iii) general corporatepurposes, business development and development of intellectual property.The following primary insiders were allocated Offer Shares at the Offer Price,as further specified in the attached notification forms:- Anders Wold (chairperson of the board): 43,010 Offer Shares- Investinor Direkte AS (a close associate of board member Ann-ToveKongsnes):3,009,439 Offer Shares- Basen Kapital AS (controlled by board member Leiv Askvig): 53,763 OfferShares- Helene Sundt AS (a close associate of board member Leiv Askvig):1,265,625Offer Shares - Sundt AS (a close associate of board member Leiv Askvig): 259,470 OfferSharesPer Walday, CEO of EXACT Therapeutics, says: "We are excited to announce thesuccessful completion of a NOK 145 million private placement to fund ourupcoming Phase 2 study in pancreatic cancer. This milestone, combined with our joint developmentagreement with GE Healthcare, represents a pivotal step in our journey towardstransformative advancements for EXACT Therapeutics and the cancer patients weaim to serve. The completion of Tranche 1 and Tranche 2 is not conditional uponcompletion of the conditions for GEMHs commitment.Subject to among other things (i) completion of the Private Placement, (ii)relevant corporate resolutions including approval by the board of directorsandan extraordinary general meeting, (iii) the prevailing market price of theCompanys shares being higher than the Subscription Price, and (iv) approvalorregistration of a prospectus (if relevant), the Company will consider whethertocarry out a subsequent offering (the "Subsequent Offering") of up to 2,150,537new shares and 921,658 non-tradable warrants in the Company. A SubsequentOffering will, if made, be directed towards existing shareholders in theCompanyas of 2 December 2024, as registered in the Companys register of shareholderswith Euronext Securities Oslo, the central securities depositary in Norway(Nw.Verdipapirsentralen) (the "VPS") two trading days thereafter, who (i) did notaccept the request to be wall-crossed in the market sounding phase of thePrivate Placement, (ii) are not allocated Offer Shares in the PrivatePlacement,and (iii) are not resident in a jurisdiction where such offering would beunlawful or would (other than Norway) require any prospectus, filing,registration or similar action (the "Eligible Shareholders"). The Company will issue a separatestock exchange notice with further details on the Subsequent Offering if andwhen finally resolved.EXACT-Tx is a clinical-stage precision medicine company utilizing the power ofultrasound and microbubbles to enable targeted drug delivery in oncology.Acoustic Cluster Therapy (ACT\xae) follows a unique approach and may be appliedtoa wide range of therapeutic agents across a multitude of indications includingwithin oncology (chemotherapy, immunotherapy) and brain diseases.www.exact-tx.comAdvisorsBryan, Garnier & Co and Bryan Garnier Securities SAS is acting as FinancialAdvisor and together with Carnegie AS are acting as Joint Global Coordinatorsand Joint Bookrunners (the "Managers") in connection with the PrivatePlacement.Advokatfirmaet Thommessen AS is acting as legal advisor.For more information, please contact: Per Walday, CEOEXACT TherapeuticsEmail per.walday@exact-tx.comThis information is considered to be inside information pursuant to the EUMarket Abuse Regulation (MAR) and is subject to the disclosure requirementspursuant to MAR article 17 and section 5 -12 of the Norwegian SecuritiesTradingAct.