Redeye comments on ExpreS2ion’s announcement of the outcome of the TO 13 warrant program. As expected given that the warrants were out of the money throughout the exercise period, only around 1% of the warrants were exercised, and the bulk of the proceeds will instead be raised through the directed issue to the guarantor, bringing total gross proceeds to approximately SEK19.3m. The outcome is fully in line with the scenario we outlined in our comment on the guarantee undertaking and secures the funding needed to take ES2B-C001 through its primary Phase I readout.
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