ExpreS2ion announces exercise of 2017 warrant program
Hørsholm, Denmark, August 3, 2020 – ExpreS2ion Biotech Holding AB (“ExpreS2ion” or “the Company”) today announces that all warrants held by employees and Board members under the 2017 Warrant Program, established in April 2017, have been fully exercised. In total, 436,200 warrants were exercised, providing ExpreS2ion SEK 2,656,632. The exercise has increased the number of shares by 436,200, from 15,929,691 to 16,365,891.
At an Extra General Meeting in ExpreS2ion held on April 19, 2017, it was resolved to issue warrants as part of an incentive program for employees and Board members, “the 2017 Warrant Program”. The program comprised a total of 436,200 warrants, where one (1) warrant entitled to subscription of one (1) share in the Company. The employees’ part of the warrant program, 327,000 warrants, stipulated a subscription price of SEK 5.80 per share. The Board’s part of the warrant program, 109,200, stipulated a subscription price of SEK 6.96 per share. All warrants, corresponding to 436,200 shares have now been exercised, providing ExpreS2ion SEK 2,656,632.
Number of shares, share capital and dilution
The new shares have now been registered by the Swedish Companies Registration Office (Sw. Bolagsverket). The number of shares in ExpreS2ion has increased by 436,200, from 15,929,691 to 16,365,891 shares. The total share capital amounts to SEK 1,818,432.33. The dilution effect for the Company's existing shareholders amounted to approximately 2.67 percent.
ExpreS2ion’s CEO Bent Frandsen comments:
“We are very pleased that fellow colleagues and the Board have managed to take part of the market value growth. We see enormous potential and look forward to keep delivering returns to our shareholders”.
Svensk Kapitalmarknadsgranskning AB
Telefon: +46 11 32 30 732
For further information about ExpreS2ion, please contact:
Bent U. Frandsen, CEO
Telephone: +45 4256 6869
ExpreS2ion Biotechnologies ApS is a fully owned Danish subsidiary of ExpreS2ion Biotech Holding AB with company register number 559033-3729. ExpreS2ion has developed a unique technology platform, ExpreS2, for fast and efficient non-clinical development and production of complex proteins for new vaccines and diagnostics. ExpreS2 is regulatorily validated for clinical supply. The platform includes functionally modified glycosylation variants for enhanced immunogenicity and pharmacokinetics. Since 2010, the Company has produced more than 300 proteins and 40 virus-like particles (VLPs) in collaboration with leading research institutions and companies. Since 2017, ExpreS2ion develops novel VLP based vaccines through its joint venture AdaptVac ApS. For additional information, please visit www.expres2ionbio.com and www.adaptvac.com.