Press release: SEQUANA MEDICAL ANNOUNCES NEW SHARE CAPITAL AMOUNT AND NEW NUMBER OF SHARES
2024年7月6日 - 1:00AM
Press release: SEQUANA MEDICAL ANNOUNCES NEW SHARE CAPITAL AMOUNT
AND NEW NUMBER OF SHARES
SEQUANA MEDICAL ANNOUNCES NEW SHARE
CAPITAL AMOUNT AND NEW NUMBER OF
SHARES
Ghent, Belgium, 5 July 2024 – 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
today that in the context of (i) a subscription to new shares by
certain non-executive independent directors pursuant to the
"restricted share unit" or "RSU" plan as approved by the Company's
extraordinary shareholders' meeting of 10 February 2023, and (ii) a
subscription to new shares by certain members of the Company's
management team upon recommendation of the Company's nomination and
remuneration committee (including the subscription by the Company’s
executive management team of EUR 110.409,00 for 73,606 new shares
at an issue price per share of EUR 1.50), the Company's share
capital has increased on 5 July 2024 from EUR 3,720,562.60 to
EUR 3,752,904.03 and the number of issued and outstanding shares
has further increased from 35,909,420 to 36,221,596 ordinary
shares, through the issuance of a total of 312,176 new shares.
The total current number of outstanding
subscription rights amounts to 4,672,109, which entitles their
holders (if exercised) to subscribe to 5,331,624 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 730,802
new shares can be issued upon the exercise of 730,802 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 864,223
new shares can be issued upon the exercise of 864,223 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 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 '2023 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 "2023
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 1,060,606
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")1; and
- up to 1,111,294
new shares can be issued upon exercise of 1,111,294 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 and 10 May 2023 in the framework of the 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.
For more information, please
contact:
Sequana Medical
Ian CrosbieCEOE: IR@sequanamedical.com T: +44
7973 42 99 17
About Sequana Medical
Sequana Medical NV is a pioneer in treating
fluid overload, a serious and frequent clinical complication in
patients with liver disease, heart failure and cancer. This causes
major medical issues including increased mortality, repeated
hospitalizations, severe pain, difficulty breathing and restricted
mobility. Although diuretics are standard of care, they become
ineffective, intolerable or exacerbate the problem in many
patients. There are limited effective treatment options, resulting
in poor clinical outcomes, high costs and a major impact on their
quality of life. Sequana Medical is seeking to provide innovative
treatment options for this large and growing "diureticresistant"
patient population. alfapump® and DSR® are Sequana Medical's
proprietary platforms that work with the body to treat
diuretic-resistant fluid overload, delivering major clinical and
quality of life benefits for patients and reducing costs for
healthcare systems.
The Company's Premarket Approval (PMA)
application for the alfapump was submitted to the US FDA in
December 2023 and accepted for substantive review in January 2024,
having reported positive primary and secondary endpoint data from
the North American pivotal POSEIDON study in recurrent or
refractory ascites due to liver cirrhosis. US market approval of
the alfapump is anticipated before the end of Q1 2025 with US
commercial launch planned for H2 2025.
Results of the Company's RED DESERT and SAHARA
proof-of-concept studies in heart failure support DSR's mechanism
of action as breaking the vicious cycle of cardiorenal syndrome.
All three patients from the non-randomized cohort of MOJAVE, a US
randomized controlled multi-center Phase 1/2a clinical study, have
been successfully treated with DSR, resulting in a dramatic
improvement in diuretic response and virtual elimination of loop
diuretic requirements. The independent Data Safety Monitoring Board
approved the start of the randomized MOJAVE cohort of up to a
further 30 patients, which is planned after alfapump US PMA
approval. Sequana Medical is listed on the regulated market of
Euronext Brussels (Ticker: SEQUA.BR) and headquartered in Ghent,
Belgium. For further information, please visit
www.sequanamedical.com.
Important Regulatory
Disclaimers
The alfapump® system is
currently not approved in the United States or Canada. In the
United States and Canada, the alfapump system is currently under
clinical investigation (POSEIDON Trial) and is being studied in
adult patients with refractory or recurrent ascites due to liver
cirrhosis. DSR® therapy is still in development and it should be
noted that any statements regarding safety and efficacy arise from
ongoing pre-clinical and clinical investigations which have yet to
be completed. There is no link between DSR therapy and ongoing
investigations with the alfapump system in Europe, the United
States or Canada.
Note: alfapump® and DSR® are
registered trademarks.
Forward-looking statements
This press release may contain predictions,
estimates or other information that might be considered
forward-looking statements. Such forward-looking statements are not
guarantees of future performance. These forward-looking statements
represent the current judgment of Sequana Medical on what the
future holds, and are subject to risks and uncertainties that could
cause actual results to differ materially. Sequana Medical
expressly disclaims any obligation or undertaking to release any
updates or revisions to any forward-looking statements in this
press release, except if specifically required to do so by law or
regulation. You should not place undue reliance on forward-looking
statements, which reflect the opinions of Sequana Medical only as
of the date of this press release.
1 On 8 February 2024, the Company announced that
it entered into a letter of intent in which it agreed, subject to
definitive agreements, to submit a proposal to amend the exercise
price of the Kreos Warrants. The amended exercise price of the
Kreos Warrants will be equal to the lower of (i) EUR 0.825 per
share, and (ii) the issue price per share in any other future
equity or equity linked investment in the Company completed prior
to the exercise of the relevant Kreos Warrants. The number of new
shares issuable upon exercise of the Kreos Warrants has been
calculated on the basis of the aforementioned exercise price of EUR
0.825 per share.