Dicot conducts a rights issue partially secured of approximately SEK 25.3 million

Press release: Uppsala, September 8, 2021. The board of directors of Dicot AB ("Dicot" or the "Company") has today on September 8, 2021, resolved to issue units, conditional on the Extraordinary General Meeting's subsequent approval on October 6, 2021, with preferential rights for the Company's existing shareholders (the "Rights Issue''). The notice of the Extraordinary General Meeting will be published in a separate press release.

Summary

  • Upon full subscription of the Rights Issue, Dicot will receive approximately SEK 25.3  million, before issue costs. Upon full exercise of the warrants included in the issued units for subscription of shares, the Company will be provided additionally approximately SEK 58.3 million.
  • The Rights Issue is guaranteed up to approximately 6.2 percent by subscription undertakings and approximately 73.8 percent by underwriting commitments. In total, the Rights Issue is guaranteed to 80 percent.
  • All existing shareholders receive one (1) unit right for each one (1) share held on the record date on the October 7, 2021. Five (5) unit rights entitle to subscription of one (1) unit. One (1) unit contains three (3) new shares and three (3) warrants. The subscription price is SEK 1.95 per unit, corresponding to 0.65 SEK per share (the warrants are issued free of charge).
  • The subscription period for the Rights Issue will be from October 11, 2021 to October 26, 2021.
  • The subscription price for subscription of shares using warrants will correspond to 70 percent of the average volume-weighted price of the Company's share according to Spotlight Stock market's official list during the period from May 16, 2022 up to and including May 27, 2022. However, the subscription price shall not be higher than SEK 1.50 or lower than SEK 0.125 (corresponding quota value of the Company's share) .
  • The subscription period for subscription of shares using warrants will be from June 1, 2022 up to and including June 15, 2022.
  • The Company is concluding the upcoming financing for the purpose of finalizing the pre-clinical program and commence the preparations for clinical stage 1.

Background and rationale in summary

Dicot is developing the drug candidate LIB-01 (formerly Libiguin), which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to those on the market. Today, at least 500 million men suffer from these sexual dysfunctions and the market is valued at SEK 50 billion.

LIB-01 has its origins in the research conducted at Uppsala University by Professor Jarl Wikberg to treat sexual disability. Previous animal trials and the traditional folk medicine use from Madagascar demonstrate the potential for LIB-01 as treatment of erection problems and premature ejaculation. Research and development are conducted under own auspices up to phase 2 studies. Thereafter, Dicot's intention is to form strategic alliances, or alternatively carry out a trade sale, with larger, established pharmaceutical companies to be able to introduce LIB-01 on the world market.

The Company is concluding the issue of units the purpose of finalizing the Dicot's pre-clinical program and commence the preparations for clinical stage 1.

The terms of the Rights Issue

The Board of Directors in Dicot has resolved, conditional on the Extraordinary General Meeting's subsequent approval, to issue units, consisting of shares and warrants, with preferential rights for the Company's existing shareholders in accordance with the terms listed below.

  • All existing shareholders receive one (1) unit right for each one (1) share held on the record date on the October 7, 2021. Five (5) unit rights entitle to subscription of one (1) unit. One (1) unit contains three (3) new shares and three (3) warrants. The subscription price is SEK 1.95 per unit, corresponding to SEK 0.65 per share (the warrants are issued free of charge).
  • The Rights Issue consists of a maximum of 38,899,047 new shares and 38,899,047 new warrants. Upon full subscription in the Rights Issue, the Company will receive approximately SEK 25.3 million, before issue costs. The Company's share capital may increase by SEK 4,862,381, from SEK 8,103,968 to SEK 12,966,349.
  • The subscription period for the Rights Issue will be from October 11, 2021 to October 26, 2021.
  • Upon full subscription of the Rights Issue, existing shareholders who choose not to participate in the Rights Issue, will experience a dilution of approximately 37.5 percent. Full exercise of attached warrants may entail a dilution of approximately 27.3 percent. Upon full subscription of the Rights Issue and full exercise of the warrants therein, existing shareholders who choose not to participate in the Rights Issue, will experience a dilution of approximately 54.5 percent.
  • The subscription period for subscription of shares using warrants will be from June 1, 2022 up to and including June 15, 2022.
  • The subscription price for subscription of shares using warrants will correspond to 70 percent of the average volume-weighted price of the Company's share according to Spotlight Stock market's official list during the period from May 16, 2022 up to and including May 27, 2022. However, the subscription price shall not be higher than SEK 1.50 or lower than SEK 0.125 (corresponding quota value of the Company's share) . This means that the Company, upon full exercise of the warrants for subscription of shares, will receive approximately SEK 58.3 million, before issue, depending on the exercise price. The Company's share capital may therefore increase further by SEK 4,862,381, to a maximum of SEK 17,828,730.
  • The warrants are planned to be admitted to trading on the Spotlight Stock Market following the final registration with the Swedish Companies Registration Office.
  • The Rights Issue requires an amendment of the Company's Articles of Association. A proposal to resolve such amendment will be included in the notice to the Extraordinary General Meeting. 

Subscription undertakings and guarantees

The Rights Issue is partially secured through subscription undertakings of approximately 6.2 percent and through underwriting commitments of approximately 73.8 percent. In total, 80 percent of the Rights Issue is secured by subscription undertakings and underwriting commitments. Subscription undertakings have been provided by some of Dicot's current shareholders. The underwriting commitments have been provided by some of Dicot's current shareholders as well as some external investors. For underwriting commitments, an underwriting compensation of eight (8) percent of the underwritten amount is paid in cash. No compensation is paid to shareholders who have entered into subscription undertakings.

Timetable

October 6, 2021 Last day of trading of shares in Dicot including the right to receive unit rights.
October 6, 2021 First day of trading of shares in Dicot excluding the right to receive unit rights.Extraordinary General Meeting
October 7, 2021 The record date for receiving unit rights. Shareholders who are registered in the share register kept by Euroclear Sweden AB as of this day will receive unit rights for participation in the Rights Issue.
October 8, 2021 The EU growth prospectus with regards to the Rights Issue is expected to be published.
October 11 - October 21, 2021 Trading with unit rights on Spotlight Stock Market.
October 11 - October 26, 2021 The Subscription Period for the Rights Issue.
October 29, 2021 The announcement of the outcome of the offering is expected to be published.

Advisors

Stockholm Corporate Finance is acting as financial adviser to the Company and Hagberg & Aneborn Fondkommission is acting as issuing agent in the Rights Issue. Advokatfirman Lindahl KB is acting as legal adviser to the Company.

For further information, please contact:
Göran Beijer, CEO
Tel: +46 (0) 706 63 60 09
E-mail: [email protected]

About Dicot AB                                                 

Dicot is developing the drug candidate LIB-01 (formerly Libiguin), which will be a potency agent to better treat erectile dysfunction and premature ejaculation. The ambition is to create a drug with significantly longer effect and far fewer side effects, compared to those on the market. Today, at least 500 million men suffer from these sexual dysfunctions and the market is valued at SEK 50 billion. Research and development are conducted under own auspices up to phase 2 studies. Thereafter, Dicot's intention is to form strategic alliances, or alternatively carry out a trade sale, with larger, established pharmaceutical companies to be able to introduce LIB-01 on the world market.

Dicot is listed on Spotlight Stock Market and has approximately 1,800 shareholders. For more information, please visit www.dicot.se

This information is such that Dicot AB is required to make public in accordance with the EU's Market Abuse Regulation (MAR). The information was made public by the Company's contact person above on September 8, 2021.

IMPORTANT INFORMATION

This press release is not an offer to subscribe for shares or units in Dicot and investors should not subscribe or acquire any securities. Invitation to concerned persons to subscribe for shares in Dicot will only be made through the EU growth prospectus.

This press release shall not, directly or indirectly, be released, published or distributed in or to the United States, Australia Japan, Canada, New Zealand, Hong Kong, South Africa or other country where such action as a whole or in part is subject to legal restrictions. Neither unit rights, units subscribed for ("BTU") or newly issued units have been recommended or approved by any US federal or state securities authority or regulatory authority. No subscription rights, BTA or newly issued shares have been registered or will be registered under the United States Securities Act of 1933, as applicable, or in accordance with applicable laws in the United States, Australia, Hong Kong, Japan, Canada, New Zealand, Switzerland, Singapore, South Africa or in any other country where the Rights Issue or distribution of the press release is in violation of applicable laws or regulations or presupposes that a further prospectus is established, registered or that any other measure is undertaken beyond that required by Swedish law. The press release, as well as the prospectus, the application form and other documents attributable to the Rights Issue, may consequently not be distributed to any such jurisdiction.

There is no intention to register any portion of the offer in the United States and the securities issued in the Rights Issue will not be offered to the public in the United States.

The Company has not authorized any offer to the public with regards to the shares or rights that are referred to in this communication in any member state of the European Economic Area (''EEA'') besides Sweden. This communication is only addressed to and is only directed at qualified investors in other members states within the EEA.

In the United Kingdom, this document and any other materials in relation to the securities described herein is only being distributed to, and is only directed at, and any investment or investment activity to which this document relates is available only to, and will be engaged in only with, "qualified investors" (within the meaning of the Prospectus Regulation as it forms part of domestic law in the United Kingdom by virtue of the European Union (Withdrawal) Act 2018) who are (i) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19 (5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order"); or (ii) high net worth entities falling within Article 49 (2)(a) to (d) of the Order (all such persons together being referred to as "relevant persons"). In the United Kingdom, any investment or investment activity to which this communication relates is available only to, and will be engaged in only with, relevant persons. Persons who are not relevant persons should not take any action on the basis of this document and should not act or rely on it.

Nerladdningsbara filer

Studie av djur med diabetes visar på effekt hos Dicots läkemedelskandidat

Pressmeddelande: Uppsala, 14 oktober 2021. Potensläkemedelsutvecklaren Dicot har precis avslutat en studie på råttor med diabetes och bevisad erektil dysfunktion. Bolagets läkemedelskandidat demonstrerade signifikant förbättrad erektion jämfört med kontrollgruppen.


Study of animals with diabetes shows effect in Dicot's drug candidate

Press release: Uppsala, October 14, 2021. Potency drug developer Dicot has just completed a study on rats with diabetes and proven erectile dysfunction. The company's drug candidate demonstrated significantly improved erections compared to vehicle.



Teckningsperioden i Dicots företrädesemission inleds idag den 12 oktober 2021

Pressmeddelande: Uppsala, 12 oktober 2021. Idag, den 12 oktober 2021, inleds teckningsperioden i Dicot ABs (publ) ("Dicot" eller "Bolaget") förestående företrädesemission av units vilken offentliggjordes den 8 september 2021 och som godkändes av extra bolagsstämman den 6 oktober 2021 ("Företrädesemissionen").


The subscription period for Dicot's rights issue begins today on October 12, 2021

Press release: Uppsala, October 12, 2021. Today on October 12, 2021, the subscription period for the rights issue in Dicot AB (publ) ("Dicot" or the "Company"), which was made public on September 8, 2021 and resolved by the extra general meeting on October 6, 2021 (the "Rights Issue") commences.



Dicot offentliggör EU-tillväxtprospekt avseende företrädesemissionen

Pressmeddelande: Uppsala, 8 oktober 2021. Dicot AB ("Dicot" eller "Bolaget") har upprättat ett EU-tillväxtprospekt (''Prospektet'') avseende Bolagets företrädesemission, vilken offentliggjordes den 8 september 2021 och som godkändes av extra bolagsstämman den 6 oktober 2021 ("Företrädesemissionen"). Prospektet har godkänts av Finansinspektionen och finns nu tillgängligt på Bolagets hemsida www.dicot.se och kommer att göras tillgängligt på Hagberg & Aneborn Fondkommission AB:s hemsida www.hagberganeborn.se.  


Dicot publishes EU growth prospectus related to its rights issue

Press release: Uppsala, October 8, 2021. Dicot AB ("Dicot" or the "Company") has established an EU growth prospectus (the ''Prospectus'') related to the Company's rights issue, which was made public on September 8, 2021 and resolved by the extra general meeting on October 6, 2021 (the "Rights Issue"). The prospectus has now been approved by Swedish Financial Supervisory Authority and is now available at the Company's website, www.dicot.se and will be published on Hagberg & Aneborn Fondkommission AB's website, www.hagberganeborn.se.


Kommuniké från extra bolagsstämma i Dicot AB

Dicot AB (publ) ("Bolaget") höll idag den 6 oktober 2021 extra bolagsstämma i Bolaget via poströstning varvid besluten nedan fattades.


Bodil Fornstedt Wallin, ny Project Director på Dicot

Pressmeddelande: Uppsala, 27 september 2021. Dicot AB meddelar idag att bolaget har kontrakterat Bodil Fornstedt Wallin som ny Project Director.


Rättelse: Kallelse till extra bolagsstämma i Dicot AB (PUBL)

Rättelse: med anledning av vissa emissionstekniska detaljer har tre datum avseende nyemissionen under beslutspunkt 7 nedan flyttats fram med en dag. Detta innebär att avstämningsdagen för deltagande i nyemissionen rättas  från tidigare 7 oktober 2021 till den 8 oktober 2021. Även teckningstiden för teckning av units med eller utan företrädesrätt rättas, från perioden den 11 oktober till och med den 26 oktober 2021, till perioden från och med den 12 oktober 2021 till och med den 27 oktober 2021. Kallelsen är i övrigt oförändrad från utskicket den 8 september 2021. Korrigerad kallelse i sin helhet följer nedan.

Aktieägarna i Dicot AB (publ), org.nr 559006-3490 ("Bolaget"), kallas härmed till extra bolagsstämma onsdagen den 6 oktober 2021. Mot bakgrund av risken för spridning av Covid-19 och myndigheternas föreskrifter/råd om undvikande av sammankomster har styrelsen beslutat att bolagsstämman ska genomföras utan fysisk närvaro genom att aktieägare utövar sin rösträtt endast genom poströstning. Någon fysisk sammankomst kommer således inte att hållas.


RÄTTELSE: Dicot genomför partiellt garanterad företrädesemission om cirka 25,3 MSEK

Rättelse: Med anledning av vissa emissionstekniska detaljer har datumen avseende nyemissionen listade i tidplanen nedan flyttats fram med en dag. Detta innebär att (i) första handelsdagen i Dicots aktier exklusive rätt att erhålla uniträtter rättas från den 6 oktober 2021 till den 7 oktober 2021; (ii)  avstämningsdagen för deltagande i nyemissionen rättas från tidigare 7 oktober 2021 till den 8 oktober 2021; (iii) den beräknade dagen för offentliggörande av EU-tillväxtprospekt avseende emissionen rättas från den 8 oktober 2021 till den 11 oktober 2021; och (iv) handelsperioden i uniträtter på Spotlight Stock Market rättas från perioden den 11 oktober till och med den 21 oktober 2021, till perioden från och med den 12 oktober 2021 till och med den 22 oktober 2021. Avslutningsvis rättas även teckningstiden för teckning av units, från perioden den 11 oktober till och med den 26 oktober 2021, till perioden från och med den 12 oktober 2021 till och med den 27 oktober 2021. Beräknad dag för offentliggörande av emissionsutfall rättas från 29 oktober till den 1 november 2021. Pressmeddelandet är i övrigt oförändrat från utskicket den 8 september 2021. Korrigerat pressmeddelande i sin helhet följer nedan.

Styrelsen i Dicot AB ("Dicot" eller "Bolaget") har idag den 8 september 2021, villkorat av godkännande vid extra bolagsstämma den 6 oktober 2021, beslutat om en emission av aktier och teckningsoptioner (units) med företrädesrätt för Bolagets befintliga aktieägare ("Företrädesemissionen"). Kallelse till extra bolagsstämma offentliggörs genom separat pressmeddelande.


Correction: Dicot conducts a rights issue partially secured of approximately SEK 25.3 million

Correction: Due to certain technical details related to the issue, all dates regarding the rights issue listed in the timetable below has been postponed by one day. This means that the (i) first day of trading of shares in Dicot excluding the right to receive unit rights has been corrected from October 6, 2021 to October 7, 2021; (ii) record date for receiving unit rights has been corrected from October 7, 2021 to October 8, 2021; (iii) the expected date for publication of the EU growth prospectus has been corrected from October 8, 2021 to October 11, 2021; (iv) the period of trading with unit rights on Spotlight Stock Market has been corrected from October 11, 2021 to October 21, 2021, to the period from October 12, 2021 to October 22, 2021. Lastly, the subscription period for the subscription of units has been corrected from October 11, 2021 to October 26, 2021, to the period from October 12, 2021 to October 27, 2021. The expected date of publishing the results of the issue has been corrected from October 29, 2021 to November 1, 2021. The press release is in all other aspects unaltered from the version published on September 8, 2021. A corrected and complete press release follows below.

The board of directors of Dicot AB ("Dicot" or the "Company") has today on September 8, 2021, resolved to issue units, conditional on the Extraordinary General Meeting's subsequent approval on October 6, 2021, with preferential rights for the Company's existing shareholders (the "Rights Issue''). The notice of the Extraordinary General Meeting will be published in a separate press release.


Kallelse till extra bolagsstämma i Dicot AB (publ)

Aktieägarna i Dicot AB (publ), org.nr 559006-3490 ("Bolaget"), kallas härmed till extra bolagsstämma onsdagen den 6 oktober 2021. Mot bakgrund av risken för spridning av Covid-19 och myndigheternas föreskrifter/råd om undvikande av sammankomster har styrelsen beslutat att bolagsstämman ska genomföras utan fysisk närvaro genom att aktieägare utövar sin rösträtt endast genom poströstning. Någon fysisk sammankomst kommer således inte att hållas.


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