9.5m new shares will be issued (up to 10.5m could have been subscribed), so the number of shares will increase from 40m to 50m, which is a very moderate dilution for existing shareholders. The financial costs for the equity issue will amount to cNOK4.3, NOK2.5m of which will be settled in shares, resulting in net proceeds of cNOK47 and a pro-forma cash position of cNOK98m (based on the Q4 report). This should finance the rest of 2024 and likely take the company into 2025 (depending on how much operating costs decrease as the phase II study ATLAS-IT-05 is wrapped up). Adding the new number of shares and cash, while assuming some dilution from add-on funding later in the year, our diluted base case is NOK14 (undiluted NOK16). This is an increase from previously (NOK13) as the conditions for the equity issue were somewhat more favourable than we had anticipated.