Modus Therapeutics Holding AB (“Modus” or the “Company”) announces the outcome of the Company’s rights issue of units that was announced on 26 June 2025 (the “Rights Issue”). In the Rights Issue, 8,814,693 units, corresponding to approximately 98.1 percent of the Rights Issue, were subscribed for with the support of unit rights. In addition, 8,165,328 units, corresponding to approximately 90.9 percent of the Rights Issue, were subscribed for without the support of unit rights. In total, the subscription rate amounts to 189 percent and, consequently, no guarantee commitments will be utilized. The Company is thus provided with approximately SEK 28.3 million.

The net proceeds of approximately SEK 24.4 million, of which approximately SEK 5 million refers to set-off against outstanding loans from Modus’ largest shareholder Karolinska Development, and after transaction costs of approximately SEK 3.9 million, will primarily be used to finance clinical activities, including the ongoing phase II study. The issue proceeds, including any proceeds from the exercise of warrants of series TO 2026, are expected to finance the business until the end of 2026.

Subscription and allotment
In the Rights Issue, 8,814,693 units, corresponding to approximately 98.1 percent of the Rights Issue, were subscribed for with the support of unit rights. In addition, 8,165,328 units, corresponding to approximately 90.9 percent of the Rights Issue, were subscribed for without the support of unit rights. In total, 16,980,021 units were subscribed for, corresponding to approximately SEK 53.5 million or 189 percent of the Rights Issue. Consequently, no guarantee commitments will be utilized. The Rights Issue will provide the Company with approximately SEK 28.3 million, of which approximately SEK 5 million refers to set-off against outstanding loans from Karolinska Development, before deduction of transaction costs of approximately SEK 3.9 million.

Allotment of units has been made in accordance with the principles set out in the prospectus published by the Company on 11 August 2025. Contract notes are expected to be sent out tomorrow, 27 August 2025, to those who have been allotted units without the support of unit rights. Allotted units subscribed for without the support of unit rights must be paid for in accordance with the instructions on the contract note.

Warrants
In the Rights Issue, a total of 8,984,724 units were offered, each consisting of nine (9) shares, three (3) warrants of series TO 2026, and four (4) warrants of series TO 2030. The warrants are issued free of charge and are intended to be admitted to trading on Nasdaq First North Growth Market.

Upon full exercise of the warrants of series TO 2026, the Company will be provided with proceeds of approximately SEK 9.4 million, and upon full exercise of the warrants of series TO 2030, the Company will be provided with additional proceeds of approximately SEK 14.4 million.

Shares and dilution
Through the Rights Issue, the share capital increases by SEK 4,851,750.96, from SEK 2,156,333.94 to SEK 7,008,084.90, and the number of shares increases by 80,862,516 shares, from 35,938,899 shares to 116,801,415 shares. For existing shareholders who did not participate in the Rights Issue, this corresponds to a dilution of approximately 69.2 percent.

Upon full exercise of the warrants of series TO 2026, the share capital will increase by an additional SEK 1,617,250.32 and the number of shares will increase by up to 26,954,172 shares, corresponding to a dilution of 18.7 percent.

Upon full exercise of the warrants of series TO 2030, the share capital will increase by an additional SEK 2,156,333.76 and the number of shares will increase by up to 35,938,896 shares, corresponding to a dilution of 20.0 percent.

Trading in BTU
Trading in paid subscribed units (BTU) will continue on Nasdaq First North Growth Market until the Rights Issue has been registered with the Swedish Companies Registration Office (Sv. Bolagsverket), which is expected to take place at the beginning of September 2025.

Advisors
Bergs Securities is acting as sole manager and bookrunner and Advokatfirman Vinge is legal advisor to Modus in connection with the Rights Issue.

For more information on Modus Therapeutics, please contact:
John Öhd, CEO, Modus Therapeutics
Phone: +46 (0) 70 766 80 97
Email: john.ohd@modustx.com

The information was submitted for publication, through the agency of the contact persons set out above, on 27 August 2025 at 19:30 CEST.

Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Website: www.skmg.se

About Modus Therapeutics and sevuparin
Modus is a Swedish biotech company developing its patented polysaccharide, sevuparin, as a treatment option for several major unmet medical needs, including anemia in kidney disease and other chronic inflammatory conditions, severe malaria, sepsis, and other disorders involving severe systemic inflammation. There is a great need for new treatments that can effectively treat these conditions. Modus’ ambition is to create a paradigm shift in the care of these diseases, where sevuparin could provide therapeutic benefits. Modus Therapeutics is listed on the Nasdaq First North Growth market (“MODTX”). More information is available at www.modustx.com.

Sevuparin is a clinical stage, innovative proprietary polysaccharide drug with a multimodal mechanism of action, including immunomodulating, anti-adhesive and anti-aggregate effects. Sevuparin is a heparinoid with markedly attenuated anti-coagulation features that allows severalfold higher doses to be given, compared to regular heparinoids, without the associated risk for bleeding side-effects. Two routes of administration of sevuparin are currently being tested – an IV formulation for in-patient administration and a subcutaneous formulation that allows ambulatory and home care administration.

Important Information
The information in this press release does not constitute an offer to acquire, subscribe for, or otherwise trade in shares or other securities in Modus. Invitations to relevant persons to subscribe for shares in Modus have only been made through the prospectus published by Modus. No action has been taken, or will be taken, by Modus to permit a public offering in any jurisdictions other than Sweden.
This press release may not be announced, published, or distributed, whether directly or indirectly, in or into Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, the United Kingdom, South Africa, the United States, or any other jurisdiction where such action, in whole or in part, is subject to legal restrictions or would require additional prospectuses, registration, or measures other than those required under Swedish law. The information in this press release may not be forwarded or reproduced in a way that contravenes such restrictions or would give rise to such requirements. Any action in contravention of this instruction may constitute a violation of applicable securities legislation. Neither unit rights, paid and subscribed shares, nor new shares issued in the offering have been or will be registered under the United States Securities Act of 1933, as amended (the “Securities Act”), and may not be offered, subscribed, exercised, pledged, sold, resold, delivered, or transferred, directly or indirectly, in or into the United States, except pursuant to an applicable exemption from the registration requirements of the Securities Act. The offering is not directed to persons domiciled in Australia, Belarus, Hong Kong, Japan, Canada, New Zealand, Russia, Switzerland, Singapore, the United Kingdom, South Africa, or in any other jurisdiction where participation would require additional prospectuses, registration, or other measures beyond those required under Swedish law.
Forward-looking statements
This press release contains certain forward-looking statements that reflect Modus’ current views and expectations regarding future events and financial and operational developments, including statements concerning the Rights Issue as well as statements regarding guidance, planning, prospects, and strategies. Words such as “intends,” “assesses,” “expects,” “plans,” “estimates,” “may,” and other expressions indicating or predicting future developments or trends and which are not based on historical facts, constitute forward-looking information. Although Modus believes that these statements are based on reasonable assumptions and expectations, Modus cannot guarantee that such forward-looking statements will materialize. As these forward-looking statements involve both known and unknown risks and uncertainties, actual outcomes may differ materially from what is expressed in forward-looking information. Forward-looking statements in this press release apply only as of the date of this press release and may be subject to change without notice. Potential investors should not place undue reliance on the forward-looking statements in this press release. Potential investors are strongly advised to read the sections of the prospectus containing more detailed descriptions of factors that may affect the Company’s operations and the market in which the Company operates. The Company makes no commitments to publicly update or revise forward-looking statements as a result of new information, future events, or otherwise, except as required under applicable laws or stock market regulations.

Attachments
Modus Therapeutics raises approximately SEK 28.3 million in oversubscribed unit issue

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