Immunicum Announces Results of Directed Share Issue

Immunicum AB (publ) (Nasdaq Stockholm: IMMU) ("Immunicum" or the "Company") today announces that it has successfully completed a directed share issue of 33,233,433 shares at a subscription price of SEK 4.25 per share (the "Directed Issue"), through which the Company receives approximately SEK 141.2 million in gross proceeds, before deducting the commissions and estimated Directed Issue expenses payable by Immunicum. 

The board of directors of Immunicum has, based on the issue authorization granted by the annual general meeting on 4 May 2021, resolved on a directed issue of 33,233,433 new shares at a subscription price of SEK 4.25 per share. The subscription price in the Directed Issue has been determined by way of an accelerated bookbuilding process, and the board of directors therefore assesses that the subscription price is at market terms and accurately reflects current market conditions and demand. 

The Directed Issue was directed to Swedish and international investors, including the Company's largest shareholder Van Herk, which has subscribed for its pro rata share, and the Company's second largest shareholder AP4, which has subscribed for an amount of circa SEK 52.8 million.

The net proceeds of the Directed Issue are intended to be used for: (i) continuation of ongoing clinical trials and preparations for clinical pipeline expansion; (ii) expansion of process development activities; (iii) preclinical research activities; and (iv) general corporate purposes.

The Company believes that using the flexibility provided by a share issue with deviation from the shareholders' preferential rights was the most appropriate alternative for the Company at this time, allowing it to raise capital in a timely and cost-effective manner and to diversify the shareholder base.

Following settlement of the Directed Issue, which is envisaged on or about 22 June 2021, the total number of shares and votes in Immunicum will increase with 33,233,433, from 166,167,166 to 199,400,599. The share capital will increase with SEK 1,661,671.65, from SEK 8,308,358.30 to SEK 9,970,029.95. The Directed Issue entails a dilution of 16.7 percent, based on the total number of shares in Immunicum after the Directed Issue.

In connection with the Directed Issue, the Company has agreed, subject to customary exceptions, not to issue additional shares for a period of 180 days following settlement of the Directed Issue. In addition, members of the board of directors and management of the Company, as well as the Company's major shareholders, Van Herk and AP4 (the "Major Shareholders"), have agreed not to sell any shares in the Company for a period of 180 days following settlement of the Directed Issue, subject to certain customary exceptions.

To facilitate settlement of the Directed Issue at a market practice "T+2" basis with investors participating in the transaction, Carnegie (in its capacity as settlement agent) have entered into a share lending agreement with Van Herk. Upon registration of the Directed Issue by the Swedish Companies Registration Office (Sw. Bolagsverket), the new shares will be redelivered to Van Herk pursuant to the share lending agreement. 

Carnegie Investment Bank and Kempen & Co acted as Joint Global Coordinators and Joint Bookrunners in the Directed Issue. Cederquist acted as legal counsel to the Company and Baker McKenzie acted as legal counsel to the Joint Global Coordinators in connection with the Directed Issue.

This information is such information that the Company is obliged to make public pursuant to the EU Market Abuse Regulation (No. 596/2014). The information was submitted for publication through the agency of the contact persons set out below on 17 June2021, at 10:20 pm CEST.