case / 14 May 2020
Setterwalls has advised WntResearch in connection with oversubscribed rights issue
Setterwalls has advised WntResearch AB in connection with a rights issue of units, consisting of shares and warrants, which was oversubscribed to 128.4 per cent.
WntResearch AB is a biotechnology company conducting development of drug candidates with a focus on various forms of metastatic cancer. The company’s research is focused on studying the body-specific protein WNT5A, that has been shown to have a crucial role in the spread of tumor cells. The company’s main focus is devoted to the development of Foxy-5 – a phase II drug candidate that is considered to have great potential in the treatment against tumor spread.
Through the rights issue, that was oversubscribed to 128.4 per cent, WntResearch AB receives cash issue proceeds of approximately SEK 38.1 million before issue costs. In addition, WntResearch AB may receive additional issue proceeds of a maximum of approximately SEK 38.1 million before issue costs, provided that all warrants issued in connection with the rights issue are exercised for subscription of new shares in the company.