SynAct Pharma AB - Notification of Warrant and Share Transactions by Hunter Capital AB and Heights Capital Management
SynAct Pharma AB (publ) (”SynAct”) (Nasdaq Stockholm: SYNACT), a clinical-stage biotechnological company focused on treating inflammation through resolution, today announced the company has been informed that Hunter Capital AB (publ) (“Hunter Capital”) has entered into an agreement with CVI Investments Inc. (Heights Capital Management) (“Heights Capital”) to acquire 1,375,000 warrants, corresponding to 1,380,637 shares upon full exercise, in SynAct Pharma.
In connection with this, Hunter Capital has also undertaken to acquire 500,000 shares in SynAct Pharma from Heights Capital at a price of SEK 18.80 per share. Following the transaction, Heights Capital will hold 250,000 shares in SynAct Pharma and will not have the right to convert additional shares under the warrant program launched in October 2023.
SynAct Pharma has further entered into an agreement with Hunter Capital under which Hunter Capital undertakes not to convert the warrants into shares. Consequently, the warrants will expire in full on 13 October 2025, and no additional shares will be issued under this warrant program.
“We view this agreement as an important step that strengthens stability in our shareholder base and creates improved conditions for long-term value creation. Hunter Capital’s increased ownership, combined with their decision not to convert the warrants, provides clarity and predictability for SynAct Pharma and all of our shareholders. With this in place, we can focus fully on advancing our strategy and delivering on our development goals,” said SynAct CEO Jeppe Øvlesen.