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SEQUANA MEDICAL ANNOUNCES NEW SHARE CAPITAL AMOUNT AND NEW NUMBER OF SHARES
PRESS RELEASE
REGULATED INFORMATION
27 April 2023, 07:00 p.m. CEST
Ghent, Belgium, 27 April 2023 – Sequana Medical NV (Euronext Brussels: SEQUA) (the “Company” or “Sequana Medical“), a pioneer in the treatment of fluid overload in liver disease, heart failure and cancer, announces that in the context of the private placement of new shares and new subscription rights that was announced on 24 April 2023 and priced on 25 April 2023 by means of a private placement through an accelerated bookbuilding procedure of new shares and new subscription rights, the Company’s share capital has increased on 27 April 2023 from EUR 2,460,486.98 to EUR 2,906,418.68 and the number of issued and outstanding shares has increased from 23,746,528 to 28,050,888 ordinary shares, through the issuance of a total of 4,304,360 new shares. The Company also issued 1,076,083 new subscription rights. An additional 140,845 new shares and 35,211 new subscription rights are expected to be issued and delivered no later than on 10 May 2023.
The total current number of outstanding subscription rights amounts to 4,109,797, which entitles their holders (if exercised) to subscribe to 3,870,110 new shares with voting rights in total, namely:
- up to 261,895 new shares can be issued upon the exercise of 90,780 share options that are still outstanding under the ‘Executive Share Options’ plan for staff members and consultants of the Company, entitling the holder thereof to acquire ca. 2.88 new shares when exercising one of his or her share options (the “Executive Share Options“);
- up to 1,067,924 new shares can be issued upon the exercise of 1,067,924 share options (each share option having the form of a subscription right) that are still outstanding under the ‘2018 Share Options’ plan for directors, employees and other staff members of the Company and its subsidiaries, entitling the holder thereof to acquire one new share when exercising one of his or her share options (the “2018 Share Options“);
- up to 1,000,000 new shares can be issued upon the exercise of 1,000,000 share options (each share option having the form of a subscription right) that are still outstanding under the ‘2021 Share Options’ plan for directors, employees and other staff members of the Company and its subsidiaries, entitling the holder thereof to acquire one new share when exercising one of his or her share options (the “2021 Share Options“);
- up to 302,804 new shares can be issued to Bootstrap Europe S.C.SP. upon the exercise of 10 warrants (each warrant having the form of a subscription right) that are still outstanding that have been issued by the extraordinary shareholders meeting of 27 May 2022 (the “Bootstrap Warrants“);
- up to 161,404 new shares can be issued to Kreos Capital VII Aggregator SCSp. upon the exercise of 875,000 warrants (each warrant having the form of a subscription right) that are still outstanding that have been issued by the extraordinary shareholders meeting of 10 February 2023 (the “Kreos Warrants“); and
- up to 1,076,083 new shares can be issued upon exercise of 1,076,083 subscription rights that are still outstanding that have been issued by the board of directors (within the framework of the authorized capital) on 27 April 2023 in the framework of the aforementioned private placement of new shares and new subscription rights (the “2023 Investor Warrants“).
This announcement is made in accordance with Article 15 of the Belgian Act of 2 May 2007 on the disclosure of major participations in issuers of which shares are admitted to trading on a regulated market and regarding miscellaneous provisions.
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