Oslo, Norway - Ultimovacs ASA, a Norway-based biotech company developing immunotherapies against cancers, has announced that several major shareholders will cross the threshold for disclosure of shareholdings pursuant to Chapter 4 of the Norwegian Securities Trading Act following the completion of the Business Combination and the Private Placement. The Business Combination involves the acquisition of a minority stake in Zelluna Immunotherapy AS, while the Private Placement raised gross proceeds of approximately NOK 51.7 million.

Geveran Trading Company Ltd. has been allocated 4,230,769 offer shares in the Company in the Private Placement and will receive 20,847,543 consideration shares in the Business Combination. This increases their shareholding from 0 shares and votes to 25,078,312 shares and votes (approx. 12.4%) in the Company after completion of the Transactions.

Radforsk has been allocated 1,038,461 offer shares in the Company in the Private Placement and will receive 22,156,490 consideration shares in the Business Combination. Their shareholdings will increase from 1,519,263 shares and votes (approx. 4.4% as of the date hereof) to 24,714,214 shares and votes (approx. 12.2%) in the Company after completion of the Transactions.

Inven2 AS has been allocated 384,615 offer shares in the Company in the Private Placement and will receive 19,357,583 consideration shares in the Business Combination. Their shareholdings will increase from 1,265,139 shares and votes (approx. 3.7% as of the date hereof) to 21,007,337 shares and votes (approx. 10.4%) in the Company after completion of the Transactions.

Gjelsten Holding AS has been allocated 3,653,846 offer shares in the Company in the Private Placement and will not receive any consideration shares in the Business Combination. As a result, their total percentage of shares will decrease from 6,495,866 shares and votes (approx. 18.88% as of the date hereof) to 10,149,712 shares and votes (approx. 5.0%) in the Company after completion of the Transactions.

Takeda Ventures, Inc. will receive 12,389,348 consideration shares in the Business Combination, increasing their shareholdings from 0 shares and votes to 12,389,348 shares and votes (approx. 6.1%) in the Company after completion of the Transactions.

Birk Venture AS has been allocated 538,461 offer shares in the Company in the Private Placement and will receive 14,196,604 consideration shares in the Business Combination. Their shareholdings will increase from 0 shares and votes to 14,735,065 shares and votes (approx. 7.3%) in the Company after completion of the Transactions.



These changes in major shareholdings have significant implications for Ultimovacs ASA's capital structure and voting power. The increased shareholdings by Geveran Trading Company Ltd., Radforsk, Inven2 AS, Takeda Ventures, Inc., and Birk Venture AS have led to a more diversified shareholder base, potentially enhancing the company's financial stability and strategic direction. However, the decrease in Gjelsten Holding AS's shareholding may impact the company's decision-making dynamics and strategic focus.

Ultimovacs ASA's lead product candidate, UV1, has received Fast Track designation from the U.S. Food and Drug Administration (FDA) and Orphan Drug designation from the European Medicines Agency (EMA) for the treatment of mesothelioma. These regulatory designations could facilitate faster regulatory approvals and improved market access, driving long-term growth and value creation for the company.

In conclusion, the shifts in major shareholdings for Ultimovacs ASA have strategic implications that could impact the company's capital structure, voting power, financial stability, and long-term growth prospects. As the company continues to develop its innovative immunotherapies and pursue strategic partnerships, investors should monitor the evolving shareholder dynamics and regulatory landscape to capitalize on potential opportunities.