ExpreS2ion announces loan conversion
Hørsholm, Denmark, April 21, 2020 – ExpreS2ion Biotech Holding AB (“ExpreS2ion”) hereby announces that SEK 1.75 million (excluding accrued interest) of the loan provided by Modelio Equity AB will be converted into new shares at a price of SEK 6.4925 (corresponding to the last 15 trading days volume-weighted average share price).
During 2019 ExpreS2ion announced that the company secured a combination of a bridge loan and a loan facility of up to SEK 8 million in total from Modelio Equity AB. Including accrued interest SEK 1,839,250 of the loan provided by Modelio Equity AB will be converted into new shares at SEK 6.4925 corresponding to the volume-weighted average share price during the last 15 trading days on Nasdaq First North Growth Market. Following the conversion that is now being carried out, the remaining outstanding loan to Modelio Equity amounts to a total of SEK 1.75 million.
Number of shares, share capital and dilution
When the converted part of the loan from Modelio Equity AB has been registered with the Swedish Companies Registration Office, the number of shares in ExpreS2ion will increase by 283,288 shares and thus amount to a total of 15,735,303 shares. The total share capital will amount to SEK 1,748,367.000001. The dilution effect for the company's existing shareholders amounts to approximately 1.8 percent.
Svensk Kapitalmarknadsgranskning AB
Telefon: +46 11 32 30 732
For further information about ExpreS2ion, please contact:
Bent U. Frandsen, CEO
Telephone: +45 4256 6869
This press release contains information that ExpreS2ion is obligated to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication through the agency of the contact person set out above on April 21, 2020.
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.