Warrant TO3

Warrants of series TO3

In connection with the rights issue that was completed in May 2023 a total of 48,130,195 warrants of series TO3 were issued. Each warrant of series TO3 entitles the holder the right to subscribe for one (1) new share of series B in the Company.

The warrants of series TO3 are traded with ISIN-code: SE0020181683 and with ticker: CRNO TO3 B.

The proceeds from the warrants of series B, amounting to of a maximum of approximately SEK 77 million, are intended to be allocated for the following purposes:

  • Finalize the Phase II study in PAH with drug candidate CS1.
  • Execute the Expanded Access Program (“Compassionate Use”) for CS1.
  • Initiate preparatory activities for a pivotal Phase III study with the drug candidate CS1.
  • Conduct a clinical Phase I study with drug candidate CS014.
  • Complete the pre-clinical development and preparation activities required to apply to initiate a clinical Phase I study with the drug candidate CS585.


Summary of the terms

Exercise period: March 5, 2024 – March 19, 2024.

Last day for trading in the warrant series TO3: March 14, 2024.

Subscription price: The subscription price for subscribing to shares with the support of the warrants of series TO3 amounts to seventy (70) percent of the volume-weighted average price (VWAP) of the Company's share of series B during the period from and including February 19, 2024, up to and including March 1, 2024, but not less than the share’s quota value (SEK 0.10) and not more than SEK 1.60 per share.

Issue size: If all the warrants are exercised, 48,130,195 shares of series B are issued, and the Company will receive approximately SEK 77 million before issuing costs.


Appendix - Terms & Conditions TO3

Read here >

Anmälningssedel TO3

Läs här >