Curasight's Ambitious Rights Issue Plan Unveiled
Curasight announces a rights issue aiming to raise DKK 100 million, bolstering its innovative cancer treatment technologies.
Sammanfattning
Curasight's rights issue seeks to raise DKK 100 million to advance its cancer treatment technologies. With strong backing from partners and strategic commitments, the company aims to fund crucial trials and ensure operational stability.
Curasight A/S, a leader in innovative cancer diagnostics and therapeutics, has announced a significant rights issue aimed at raising approximately DKK 100 million in gross proceeds. This financial move is designed to support the company's ongoing and future clinical trials, particularly in the fields of prostate and brain cancer.
The rights issue grants existing shareholders one subscription right per share, with eighteen rights allowing the purchase of forty-three new shares at a price of DKK 1.98 each. This price represents a 65% discount to the theoretical ex-rights price (TERP), based on a 10-day volume-weighted average price (VWAP).
Curium, a key partner of Curasight, has committed DKK 17.8 million to the issue, while Pentwater has pledged to cover 10% of the final issue volume, ensuring a minimum investment of DKK 4.7 million. These commitments, along with those from Curasight's management and board, cover approximately 27.7% of the rights issue. Additional guarantee commitments from external investors bring the total secured amount to 47% of the issue.
The funds raised will primarily support the completion of the uTRACE® Phase II trial for prostate cancer and the uTREAT® Phase I trial for brain cancer. These trials are pivotal in demonstrating the efficacy of Curasight's uPAR-based technologies, which aim to minimize irradiation of healthy tissue while effectively targeting cancer cells.
Despite the dilution risk for non-participating shareholders, the rights issue offers a strategic opportunity for investors to support a company at the forefront of cancer treatment innovation. Given the strong backing from strategic partners and the promising clinical pipeline, holding onto shares or participating in the rights issue could be beneficial for long-term investors.
Källa
Sammanfattning
Curasight plans a Rights Issue to raise approximately DKK 100 million, with a subscription price set at DKK 1.98 per share. Existing shareholders will receive one subscription right per share, where 18 rights allow the purchase of 43 new shares. The issue is supported by commitments from partners like Curium and Pentwater, covering 27.7% of the offering, and external guarantees covering an additional 19.3%, totaling about 47% coverage. The record date is 1 May 2025, with the subscription period from 2 to 16 May 2025. The proceeds will fund ongoing clinical trials and operations until mid-2026. No prospectus will be issued; instead, an information document will be published. The offering is not registered in several jurisdictions, including the US, and is aimed at qualified investors in the EEA and UK.
