The exercise period for Initiator Pharma’s warrants of series TO 2 begins today

Today, the 24th of November 2020, the exercise period for Initiator Pharma A/S (“Initiator” or the “Company”) warrants of series TO 2 that were issued in connection with the Company’s latest rights issue of units and directed issue of units commences. The exercise period runs until the 15th of December 2020. Upon full exercise of warrants, Initiator Pharma will receive approximately SEK 16.4 million before issue costs – capital that will finance the completion of the Company’s clinical phase IIa study. Sedermera Fondkommission is the financial adviser and Markets & Corporate Law Nordic AB is the legal adviser in connection with the warrant exercise.

During the exercise period for warrants of series TO 2, the warrant holder has the possibility to, for each warrant subscribe for one new share in Initiator Pharma at a price of SEK 4.90 per share.  Upon full exercise of all warrants, Initiator Pharma will receive approximately SEK 16.4 million before issue costs of approximately SEK 1 million. The proceeds from the warrant exercise will primarily be used to finance the completion of the Company’s clinical phase IIa study, with the aim of demonstrating Proof-of-Concept for the drug candidate IP2018.

The last day of trading the warrants on Spotlight Stock Market is the 11th of December 2020 and the exercise period ends on the 15th of December 2020. It is important that warrant holders contact their bank and follow the instructions from the bank, and allow some time for handling the instruction and payment, in order to be sure to act before the exercise period expires.

Teaser and subscription forms are available on the websites of Initiator Pharma (www.initiatorpharma.com) and Sedermera Fondkommission (www.sedermera.se) in both English and Swedish.

The terms for the warrants in brief

Exercise period: 24 November – 15 December 2020.

Subscription price: Each warrant of series TO 2 gives the holder the right to subscribe for one (1) new share in Initiator Pharma at a price of SEK 4.90.

Issue volume: There are 3,355,099 outstanding warrants of series TO 2. Upon full exercise of warrants of series TO 2, Initiator Pharma will receive approximately SEK 16.4 million before issue costs.

Last day for trading in warrants: 11 December 2020.

Number of outstanding shares in Initiator Pharma: 25,567,336.

Important dates in connection with the exercise period for warrants fo series TO 2

  • 24 November 2020 – The exercise period begins.
  • 11 December 2020 – Last day of trading in warrants.
  • 15 December 2020 – The exercise period ends.
  • 18 December 2020 – Planned date for publication of outcome.
  • 4 January 2021 – Planned date for conversion of the warrant exercise outcome.

Investor presentations

Initiator Pharma will during the exercise period present the Company at two different events. For details, see below.

  • Penser Bank, presentation which from the 25th of November 2020 will be available via Penser Play.
  • Stora Aktiedagen Digitalt, livestream on the 2nd of December 2020, at 08:30-09:00.

Registration is made via Aktiespararna's website.

Financial & legal advisers

Sedermera Fondkommission is the financial adviser and Markets & Corporate Law Nordic AB is the legal adviser in connection with the warrant exercise.

For further information regarding the exercise of warrants, please contact:

Sedermera Fondkommission

Phone: +46 40 - 615 14 10

 E-mail: info@sedermera.se

www.sedermera.se

For more information absolut Initiator Pharma, please contact:

Claus Elsborg Olesen, CEO

Telephone number: +45 6126 0035

E-mail: ceo@initiatorpharma.com

About Initiator Pharma

Initiator Pharma is a clinical-stage biotechnology company based in Aarhus, Denmark. The company’s main clinical Phase assets are IPED2015, intended for patients with erectile dysfunction, and IP2018, for the treatment of psychogenic erectile dysfunction. The treatments both represent First in Class treatments for psychogenic and organic ED, respectively, and are expected to improve the quality of life for a growing number of patients who are not responding to or cannot be treated with existing drugs on the market. Read more on www.initiatorpharma.com.

About Erectile dysfunction (ED)

Erectile dysfunction is sexual dysfunction characterized by the inability to develop or maintain an erection of the penis during sexual activity. ED affects more than 150 million men worldwide and that number is expected to increase to more than 320 million by 2025, fueled by aging demographics and increasing prevalence of life style diseases such as diabetes, and performance anxiety. The number of ED patients is most likely grossly underestimated, particularly for Pscyhogenic patient segment. ED patients have decreased quality of life due to various psychosocial factors such as low self-esteem, depression, sadness, anger, frustration, anxiety, medication and relationship problems (1,2, 3). Erectile dysfunction can be divided into two main categories – Organic and Pscyhogenic ED – that requires different treatments. Initiator Pharma is developing IPED2015 and IP2018, respectively, for these similar but separate patients segments.

  1. Shabsigh R, et al. (1998) Increased incidence of depressive symptoms in men with erectile dysfunction. Urology52(5):848–852.
  2. Mccabe MP, Althof SE (2014) A systematic review of the psychosocial outcomes associated with erectile dysfunction: Does the impact of erectile dysfunction extend beyond a man’s inability to have sex? J Sex Med11(2):347–363.
  3. Nguyen HMT, Gabrielson AT, Hellstrom WJG (2017) Erectile Dysfunction in Young Men—A Review of the Prevalence and Risk Factors. Sex Med Rev5(4):508–520.