Climeon Announces Outcome Of Exercise Of Warrants

Climeon Announces Outcome Of Exercise Of Warrants Of Series 2023:U

Climeon AB (publ) ("Climeon" or the "Company") today announces the outcome of the subscription period for the warrants of series 2023:U (the "Warrants") issued in connection with the Company's rights issue of units during the fourth quarter of 2023. In total, 41,950,343 Warrants were exercised for subscription of class B shares, corresponding to a subscription rate of approximately 73.5 percent. Climeon will receive approximately SEK 23 million before issue costs.

Overview of the final outcome
The final outcome shows that 41,950,343 Warrants were exercised for subscription of class B shares. The utilization rate thus amounted to approximately 73.5 percent. The subscription price for a class B share subscribed for through the exercise of the Warrants was SEK 0.55, which corresponds, in accordance with the terms of the Warrants, to 70 percent of the volume weighted average price (VWAP) of the Company's class B share on Nasdaq First North Premier Growth Market during the measurement period running from 20 May 2024 up to and including 31 May 2024. Climeon thereby receives approximately SEK 23 million before issue costs, which are estimated to amount to approximately SEK 0.1 million.

Shares and share capital
Through the exercised Warrants, the total number of shares in Climeon will increase by 41,950,343 class B shares, to a total of 257,795,687, divided among 3,900,000 class A shares and 253,895,687 class B shares. The number of votes increases by 41,950,343, from the current 250,945,344 votes to 292,895,687 votes. The share capital of the Company increases by SEK 629,255.145 to SEK 3,866,935.305. Exercised Warrants are replaced with interim shares until registration with the Swedish Companies Registration Office takes place and the interim shares can be converted into class B shares. The interim shares are expected to be converted into class B shares approximately two banking days after registration with the Swedish Companies Registration Office.

IMPORTANT INFORMATION
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This press release is not a prospectus within the meaning of Regulation (EU) 2017/1129 (the "Prospectus Regulation") and has not been approved by any regulatory authority in any jurisdiction.

This press release does not identify or purport to identify any risks (direct or indirect) that may be associated with an investment in the Company. Investors are encouraged to consult their own advisors in relation to an investment in the Company.

This press release does not constitute an offer or invitation to purchase or subscribe for securities in the United States. The securities referred to herein may not be sold in the United States absent registration or an applicable exemption from registration under the U. S. Securities Act of 1933, as amended (the "Securities Act"), and may not be offered or sold in the United States absent registration or an applicable exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. There is no intention to register any securities referred to herein in the United States or to make a public offering of such securities in the United States. The information in this press release may not be announced, published, copied, reproduced or distributed, directly or indirectly, in whole or in part, in or into the United States, Australia, Belarus, Canada, Hong Kong, Japan, New Zealand, Russia, Singapore, South Africa, South Korea, Switzerland or any other jurisdiction in which such distribution would require additional prospectuses, registration or other measures in addition to those required by Swedish law, is prohibited, or otherwise contravenes applicable rules in such jurisdiction or cannot be made without the application of an exemption from such measures. Actions in violation of this instruction may constitute a violation of applicable securities legislation.