The exercise period for the TO2 warrant is closed
The STENOCARE exercise of TO2 warrants that started June 10, 2024 has been closed on June 21, 2024. Thereby, it is no longer possible to exercise the TO2 warrants. On June 25, 2024, the company announced the result of the exercise.
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EXERCISE OF TO2 WARRANTS
Exercise period: June 10 – June 21, 2024
SUBSCRIBE VIA YOUR BANK
Stenocare announced on May 15th, 2023, that the company would offer three share issue transactions. This announcement can be found here: https://stenocare.com/investor-relations/announcements/66A70863B3330828/
The last share issue of the three transactions is named the ‘TO2 Warrant’.
Key Information
Terms:
Every one (1) held TO2 warrant gives the holder the right to subscribe for one (1) new share in Stenocare for DKK 3.16 corresponding to a 30% discount to the 10-day volume weighted average price from May 24 to June 7, 2024.
Exercise period:
The warrants must be exercised no later than June 21. Each holder is encouraged to check the deadline of their custodian bank.
Trading in warrants:
TO2 warrants can be traded until June 19, 2024 under the ticker STENO TO2.
The price for buying the TO2 Warrants is decided by the daily trade in the market.
Important dates
June 7, 2024
Announcement of exercise price for the new shares with 30% discount
June 10, 2024
First day of exercise period for TO2 Warrants
June 19, 2024
Last day of trading TO2 Warrants
June 21, 2024
Last day of exercise period for new shares with 30% discount
Read About the exercice of TO2 warrants
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WHAT is the TO2 Warrant
Owners of TO2 Warrants have the right, but not the obligation, to buy new Stenocare shares at a discounted price. The TO2 Warrant is not a share in Stenocare – it is a right to purchase a new Stenocare share with 30% discount. If the TO2 Warrant is either not used for buying a new Stenocare share or sold to the market – then the TO2 Warrant will be void (ie. without value) after June 19, 2024.
When exercising the right to purchase a new Stenocare share, one TO2 Warrant gives the right to purchase one new share in Stenocare during the exercise period that is from 10 June to 21 June, 2024 including both dates.
WHO owns TO2 Warrants and HOW can TO2 Warrants be purchased:
There are two ways to own TO2 Warrants. 1) Investors that bought new shares in the UNIT Right Issue in June 2023 received TO2 Warrants at no extra costs, and 2) investors that during June 2023 until June 2024 buy TO2 Warrants.
TO2 Warrants are traded on Nasdaq First North via banks (e.g. Danske Bank, Nordea, Nordnet, Avanza) under the ticker “STENO TO2” (ISIN DK0062493615).
Deadline for selling or buying TO2 Warrants is June 19, 2024.
WHAT is the price for a TO2 Warrant:
The price of the TO2 Warrant is decided by the market demand. It is traded every day on Nasdaq First North via banks (e.g. Danske Bank, Nordea, Nordnet, Avanza) under the ticker “STENO TO2” (ISIN DK0062493615).
WHAT is the exercise price for the new Stenocare shares in the June 2024 share issue transaction:
The new Stenocare shares will be offered at a 30% discount for owners of TO2 Warrants from June 10 to June 21. For every 1 (one) TO2 Warrant the owner can buy 1 new Stenocare share with discount. When buying the new Stenocare shares in this transaction – it is technically called “exercising the TO2 Warrants”.
The price will be announced on June 7, 2024. The exercise price of the TO2 Warrant will be determined using the 10 day-VWAP (volume weighted average price) prior to the first day of the exercise period on June 10, 2024, less 30% discount.
HOW to Subscribe for shares at a discount
Investors interested in purchasing the new shares will technically “subscribe” using their TO2 Warrants.
The owners of TO2 Warrants can subscribe for the new shares at the discounted price of DKK 3.16 each.
To subscribe, the TO2 Warrant owners must submit a subscription form to their deposit bank (where the TO2 warrants are held).
The ISIN code for the TO2 Warrant is ISIN DK0062493615 (ticker STENO TO 2) and deadline for subscription is 21 June, 5.00 PM
(check with your bank if it has a sooner deadline).
WHAT is the TO2 warrant compensation program:
Stenocare announced on November 29, 2023 – a compensation program for TO1 and TO2 Warrant owners. This is targeted owners of TO1 Warrants and TO2 Warrants that have sold TO1 or TO2 Warrants before the announcement November 29, 2023 – and repurchased them after November 29, 2023. To be eligible for TO2 Warrant compensation, the warrant owner must exercise new Stenocare shares during the share issue transaction in June 10-21, 2024.
The announcement can be found here: https://stenocare.com/investor-relations/announcements/4234B34470D1A54D/
The compensation program details:
Stenocare is offering compensation to warrant holders who meet all the following criteria:
- The warrant holder must have sold warrants of TO2 between June 20, 2023, 9.00 AM (CEST) and November 29, 2023, 4.41 PM (CET) and provide bank trading documentation of the sale(s).
- The warrant holder must have purchased warrants of TO2 between November 29, 2023, 4.42 PM (CET) and June 19, 2024, 5.00 PM (CET) and provide bank trading documentation of the purchase(s).
- Compensation is only given if the warrant holder has realized a loss (ie. purchase price minus sold price).
- The warrant holder must have exercised warrants of series TO2 between June 10, 2024, 9.00 AM (CET) and June 21, 2024, 5.00 PM (CET) and provide bank trading documentation of the exercise.
- The warrant holder will be compensated for any losses, calculated as the difference between the sold amount and the purchased amount. Compensation is only given up to the maximum units of TO2 warrants sold (before Nov 29, 4,41 PM).
- The warrant holder cannot be compensated for a higher number of warrants of series TO2 than what has been exercised.
- Warrant holders must exercise warrants of series TO2 to be eligible for compensation.
Example:
On the September 29, 2023 A sells 10.000 TO2 warrants at a price of DKK 0.081 per warrant.
On the January 11, 2024 A buys back 10.000 TO2 warrants at a price of DKK 0.180 per warrant.
During the exercise window A subscribes for all the 10.000 TO2 warrants.
After the exercise window, A sends both sales notes to Stenocare A/S, now being eligible for total compensation of DKK 990 .
During August 2024, A receives the entitled DKK 990 from Stenocare A/S.
After the exercise period ends, warrant holders who fulfil these requirements for compensation must send a request to info@stenocare.com with documentation proving their eligibility for compensation and the final compensation amount. Stenocare will process these compensation requests after the exercise period and expects to finalize them in August 2024.
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