Alligator Bioscience has secured additional subscription and top guarantee commitments for its SEK120m rights issue, increasing the guaranteed level from 64% to roughly 74%. The new commitments include SEK5.4m in subscription undertakings from existing shareholders—such as Roxette Photo SA and Magnus Petersson—and SEK12.5m in top guarantee commitments from both existing and new investors, including the Dutch investment company HDF Impact. We view the higher underwriting level positively, as it reduces execution risk and provides greater visibility on the outcome of the financing, though it does not have any material impact on our valuation.
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