ExpreS2ion announces full exercise of 2019 warrant program
Hørsholm, Denmark, September 7, 2022 – ExpreS2ion Biotech Holding AB (“ExpreS2ion”) today announces that 308,268 warrants held by employees under the 2019 Warrant Program (“TO2”) have been fully exercised, providing ExpreS2ion SEK 1,482,769. The exercise has increased the number of shares by 308,268 from 37,298,528 to 37,606,796. All 612,084 TO2 warrants have now been exercised, providing ExpreS2ion in total SEK 2,944,124.
At an Extra General Meeting in ExpreS2ion held on May 23, 2019, it was resolved to issue warrants as part of an incentive program for employees (“the 2019 Warrant Program”, or “TO2”). The program comprised a total of 680,100 warrants, where one (1) warrant entitled to subscription of one (1) share in the Company. 612,084 were subscribed for and allocated to the employees. The warrants stipulated a subscription price of SEK 4.81 per share. The TO2 exercise period is in three months from June 1 through August 31 and is carried out in three tranches during the respective months. The 308,268 warrants cover the third and last of the three tranches.
Number of shares, share capital and dilution
The new shares in the third and last tranche have now been registered by the Swedish Companies Registration Office (Sw. Bolagsverket). The number of shares in ExpreS2ion has increased by 308,268, from 37,298,528 to 37,606,796 shares. The total share capital amounts to SEK 4,178,532.896470. The dilution effect for the company's existing shareholders amounted to approximately 0.83 percent.
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Svensk Kapitalmarknadsgranskning AB
Telefon: +46 11 32 30 732
E-post: ca@skmg.se
For further information about ExpreS2ion, please contact:
Bent U. Frandsen, CEO
Telephone: +45 4256 6869
E-mail: buf@expres2ionbio.com
Keith Alexander, CFO
Telephone: +45 5131 8147
E-mail: ka@expres2ionbio.com
About ExpreS2ion
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 development and production of complex proteins for new vaccines and diagnostics. ExpreS2 is regulatorily validated for clinical supply through the clinical development value chain from Phase I to Phase III. The platform includes functionally modified glycosylation variants for enhanced immunogenicity and pharmacokinetics. Since 2010, the Company has produced more than 500 proteins and virus-like particles (VLPs) in collaboration with leading research institutions and companies. ExpreS2ion develops novel VLP based vaccines in association with AdaptVac ApS, of which ExpreS2ion owns 34%. Since 2020, the Company is focusing on its development pipeline of high-value assets within infectious diseases and oncology. For additional information, please visit www.expres2ionbio.com.