Circio Holding ASA: Requested Conversion of Convertible Bonds
Reference is made to Circio Holding ASA's (the "Company") stock exchange announcement on 9 March 2023, in which the Company announced that it had requested Atlas Special Opportunities, LLC ("Atlas") to subscribe and pay for the first tranche of convertible bonds under the Investment Agreement entered into between Atlas and the Company, consisting of 75 convertible bonds.
Atlas has, by a notice of conversion, requested conversion of convertible bonds with a nominal value of NOK 2,500,000 which, pursuant to the bond terms, are convertible into 1,181,009 new shares in the Company at a conversion price of NOK 2.1168.
The Company's share capital will accordingly be increased by NOK 708,605.40 by the issuance of 1,181,009 new shares upon completion of the conversion by registration of the share capital increase in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). Following the conversion, the Company's total share capital will be NOK 6,392,893.20 divided into 10,654,822 shares, each with a nominal value of NOK 0.60.
For further information, please contact:
Erik Digman Wiklund, CEO
Phone: +47 413 33 536
Email: erik.wiklund@circio.com
Lubor Gaal, CFO
Phone: +34 683343811
Email: lubor.gaal@circio.com
About Circio
Building next generation RNA therapeutics
Circio Holding ASA is a biotechnology company developing novel circular RNA gene therapies and immunotherapy medicines.
Circio has established a unique circular RNA (circRNA) platform for genetic medicine. The proprietary circVec technology is based on a modular genetic cassette design for efficient biogenesis of multifunctional circRNA from DNA and viral vectors, which can be deployed in multiple disease settings. The circVec platform has demonstrated enhanced and more durable protein expression than classic mRNA vector systems, and has the potential to become the new gold-standard for DNA and virus-based therapeutics in the future. The circRNA R&D activities are being conducted by the wholly owned subsidiary Circio AB based at the Karolinska Institute in Stockholm, Sweden.
In addition, Circio is developing a cancer vaccine, TG01, targeting KRAS driver mutations. TG01 is currently being tested in three clinical trials: RAS-mutated pancreatic cancer and lung and non-resectable pancreatic cancer in US, and multiple myeloma in Norway. These studies are being run through academic collaborative networks, supported by prestigious research grants from Innovation Norway and the Norwegian Research Council, creating read-outs and future optionality for the program at low cost to Circio.