Nanoform Completed New Share Issue to Raise 16.5 mn

The company said it will use the funds raised to invest in commercialization of nanoparticle-enabled formulations for next generation medicines. Specifically, capital investment into a GMP formulation facility to produce solid oral dosage forms for clinical trials, development of up to a dozen pre-clinical nanocrystalline alternatives to amorphous solid dispersions (ASDs), and co-funding with its partners to take several projects into clinical trials, in the EU and US.

With reference to the new share issue announced on April 24, 2024, Nanoform Finland Plc (“Nanoform” or the “Company“) is pleased to announce the result of the offering of new shares (the “Shares“) in an accelerated bookbuilding to Nordic and international institutional and other qualified investors (the “Placing“).

Nanoform expects to receive gross proceeds of approximately EUR 15.4 million as a result of the Placing. The Placing attracted a considerable number of leading Nordic and institutional investors. The proceeds from the Placing will be used to accelerate Nanoform’s growth strategy through continued investments, commercialization and growth of Nanoform’s nanoparticle-enabled formulation platforms for next generation medicines. More specifically use of proceeds is allocated to the following categories:

• Capex into GMP level formulation facility to produce solid oral dosage forms for clinical trials

• Development of up to a dozen pre-clinical nanocrystalline alternatives to ASD medicines ready for partnering in clinical trials

• Co-fund several projects to be taken by Nanoform and its partners into clinical trials in the EU and the US, and ultimately through to the market.

In the Placing, the Company will issue a total of 7,000,000 Shares in a directed share issue. The Shares represent approximately 8.9 per cent of the issued shares in Nanoform prior to the Placing and approximately 8.2 per cent of the issued shares in Nanoform following the Placing. The total number of issued shares in the Company after the Placing will be 85,445,164.

The subscription price of the Shares is EUR 2.20 per Share (SEK 25.60 per Share), corresponding to a discount of approximately 15.2 per cent to the closing price on April 24, 2024 immediately before the commencement of the Placing. The subscription price shall be recorded in the invested unrestricted equity reserve.

The Placing was carried out based on offers received in an accelerated bookbuilding and based on the authorisations given to the board of directors by the Company’s annual general meetings of April 12, 2022 and April 16, 2024.

Subject to the completion of the Placing, the Shares (ISIN code FI4000330972) will be registered with the trade register maintained by the Finnish Patent and Registration Office on or about April 25, 2024. The Shares are expected to be ready for delivery to the investors against payment through Euroclear Finland Ltd or, as applicable, through Euroclear Sweden AB on or about April 29, 2024. Trading in the Shares is expected to commence on Nasdaq First North Premier Growth Market Finland and Nasdaq First North Premier Growth Market Sweden on or about April 29, 2024.

The CEO of Nanoform, Prof. Edward Hæggström comments: “We are pleased to see strong support from new and existing Nordic and International investors. With the raised funds we will accelerate Nanoform’s growth strategy through continued investments, commercialization and growth of Nanoform’s nanoparticle-enabled formulation platforms for next generation medicines.”

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