Saniona repays remaining debt and converts convertibles to Fenja Capital II A/S
Saniona (OMX: SANION), a clinical-stage biopharmaceutical company, today announces the repayment of its remaining debt of SEK 31.16 million to Fenja Capital II A/S (“Fenja Capital”, formerly Formue Nord Fokus A/S). In parallel, Fenja Capital has requested conversion of outstanding convertibles totaling SEK 2 million into 647,249 new shares at a conversion price of SEK 3.09 per share. Following this milestone, Saniona’s outstanding convertibles to Fenja Capital amount to SEK 6 million.
Thomas Feldthus, Chief Executive Officer of Saniona, comments:
“This marks a significant step forward for Saniona. Fenja Capital’s continued trust and collaboration have been invaluable during a challenging period. Since 2022, we have worked together with Fenja Capital on reducing the original balance of SEK 87 million while extending the remaining loan in several rounds to protect shareholder value and dilution. With the repayment of the remaining loan, we are now positioned for a stronger future.”
As a result of the conversion of convertibles, the number of shares in Saniona will increase by 647,249, from 111,885,501 to 112,532,750. The share capital will thereby increase by SEK 32,362.45, from SEK 5,594,275.05 to SEK 5,626,637.50. Thus, the conversion entails a dilution effect of approximately 0.58 per cent of Saniona’s shares and votes.
After the conversion of convertibles, the outstanding nominal value of the convertibles will amount to SEK 6 million.