Stayble Therapeutic’s rights issue oversubscribed

22 Feb 2021 Regulatory

The subscription period in Stayble Therapeutics AB’s (“Stayble” or the “Company”) rights issue ended on 17 February 2021. The rights issue was subscribed to a total of approximately 268 percent by existing shareholders and the public. Guarantee commitments made in connection with the rights issue will therefore not be utilized. Stayble will thus receive approximately SEK 41.5 million before transaction related costs. The capital that Stayble is now provided is intended to finance the Company's operations until completion and processing of the results from the Company's ongoing clinical Phase 2b trial and to give Stayble the opportunity to initiate discussions with potential partners to drive the project further through clinical Phase 3 studies until market approval. Settlement notes are expected to be sent out today, 22 February 2021.

CEO, Andreas Gerward comments:
"We are very grateful for the interest that both new and existing shareholders have shown in our company and this rights issue. I want to take this opportunity to thank both our existing owners for their continued trust and welcome new shareholders on board. With the capital we are now provided, we look forward to continuing to deliver important milestones linked to our clinical Phase 2b trial, building, and maintaining relationships with potential partners and initiate more in-depth partnership discussions closer to the end of the Phase 2b trial in 2022".

Subscription and allocation
The rights issue comprised a maximum of 6,923,462 shares, of which 6,766,388 shares, corresponding to approximately 98 percent of the rights issue, have been subscribed for by the exercise of subscription rights. A total of 11,804,159 shares, corresponding to approximately 170 percent of the rights issue, has been subscribed for without the use of subscription rights. Thus, 18,570,547 shares, corresponding to approximately 268 percent of the rights issue, has been subscribed for with and without the use of subscription rights. Therefore, guarantee commitments made in connection with the rights issue will not be utilized. Through the rights issue, Stayble receives approximately SEK 41.5 million before transaction related costs, which are estimated to approximately SEK 5.3 million (of which approximately SEK 1.5 million is attributable to compensation for guarantee commitments).

Allocation of shares has been made in accordance with the allocation principles described in the prospectus that was published by the Company in connection with the rights issue. Settlement notes are expected to be sent out today, February 22, 2021, to those who have been allocated shares without preferential rights. Allocated shares subscribed for without preferential rights shall be paid for in accordance with the instructions in the settlement note.

Number of shares and share capital
When the rights issue has been registered with the Swedish Companies Registration Office, the number of shares in the Company will increase by 6,923,462 shares, from 6,923,462 shares to 13,846,924 shares. Upon registration, the Company's share capital will increase by SEK 900,050.06, from SEK 900,050.06 to SEK 1,800,100.12. The rights issue entails a dilution of 50 percent for shareholders who did not participate in the rights issue.

Trading with BTA
Trading with BTA (Paid Subscribed Share) is currently taking place on Nasdaq First North Growth Market Stockholm and will continue until the Swedish Companies Registration Office has registered the rights issue. This registration is expected to take place in mid-March 2021.

Sedermera Fondkommission is the financial adviser, Markets & Corporate Law Nordic AB is the legal adviser and Nordic Issuing is acting as issuing agency in connection with the rights issue.

For more information about the rights issue
Sedermera Fondkommission
Phone: +46 40 615 14 10

For more information

Andreas Gerward, CEO Stayble Therapeutics AB

+46 730 808 397

This information is the type of information that Stayble Therapeutics AB is obligated to publish pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on
22 February 2021 at 10.30 CET.

About Stayble Therapeutics AB

Stayble is a clinical stage pharmaceutical company developing the injection treatment STA363 for disc-related low back pain. The treatment is aimed at patients whose back pain persists after physiotherapy and painkillers. The injection is given once and the effect is expected to remain throughout the entirety of the patient’s life and to require minimal rehabilitation. The Company’s focus is set upon the continued clinical development and is currently conducting a clinical phase 2b. Stayble’s vision is to develop STA363 as a new standard treatment for patients suffering from chronic disc-related low back pain.

Mangold Fondkommission AB is the Company’s Certified Adviser and can be reached at +46 (0)8 503 015 50 or e-mail