Sparks commentary - Mendus

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Sparks - Mendus

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Mendus_resized
Mendus (OMX: IMMU) repurchases outstanding Fenja warrants
Published by Arron Aatkar, PhD

On 18 November 2025, Mendus entered into a loan facility with Fenja (of SEK 50m in total). The Loan Facility is split into two tranches, the first of which was drawn down on 30 January 2026. In connection with the drawdown of the first tranche, Mendus resolved on a directed issue of 1,935,605 warrants of series 2025/2030 Warrants to Fenja. The subscription price for the exercise of the warrants is SEK 7 per share. The facility includes a call option for Mendus to repurchase the warrants, which Mendus has now decided to exercise to repurchase all 1,935,605 warrants. The repurchase price amounts to c SEK 3.7m, corresponding to the market value of the Warrants as determined by an independent valuation institute appointed by Mendus. Following the repurchase, Mendus will cancel the Warrants.

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