Initiator Pharma carries out a capital increase directed by a financial advisor

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The Board of Directors of the Company decided today to increase the share capital of the Company by a total of DKK 34,999,965 divided into 333,333 shares (the “New Shares”) of an amount DKK0.105 following a share issue directed to one of the financial advisors as part of the Company’s recent rights issue. The New Shares have been issued without pre-emption right for existing shareholders subject to the authorization of the board of directors in article 4b of the Company’s articles of association.

The capital increase linked to the subscription of New Shares by the private investor amounts to DKK 34,999,965 corresponding to 333,333 nominal shares DKK0.105. The New Shares were subscribed by contribution in cash at the price of SEK7.5 per share (corresponding to DKK5.1825 per share) and the payment period for the shares is 7 days from today. Accordingly, the Company expects gross proceeds of approximately 1.7 million Danish kroner. In the opinion of the Board of Directors, the price per share of SEK7.5 reflects current market value.

The New Shares will, upon issue, be subject to the same rights as the existing shares under the Company’s articles of association and should be admitted to trading on the Nasdaq First North Growth Market under the existing ISIN code DK0060775872 once the increase of capital will have been registered with the Danish Trade Authority.

After the capital increase, the total nominal value of the Company’s share capital will amount to DKK 4,924,338.4 divided into 46,898,461 registered shares DKK0.105 each corresponding to 46,898,461 votes.

The Company will issue a notice of new company when the capital increase has been registered with the Danish Trade Authority.

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