ExpreS2ion carries out new share issue for loan conversion
Hørsholm, Denmark, November 27, 2020 – ExpreS2ion Biotech Holding AB (“ExpreS2ion”) hereby announces that SEK 3.5 million (excluding accrued interest) of the loan provided by Modelio Equity AB will be set-off against 331,816 new shares at a price of SEK 10.548 per share (corresponding to a 10 percent discount to the volume weighted average share price of ExpreS2ion's shares on Nasdaq First North Growth Market during the last 15 trading days prior to 19 November 2020).
During 2020, ExpreS2ion announced that the company secured a combination of a bridge loan and a loan facility of up to SEK 6.5 million in total from Modelio Equity AB. Excluding accrued interest, SEK 3,500,000 of the loan provided by Modelio Equity AB will be set-off against 331,816 new shares at a price of SEK 10.548 per share corresponding to a 10 percent discount to the volume-weighted average share price of ExpreS2ion's shares on Nasdaq First North Growth Market during the last 15 trading days prior to 19 November 2020. Accrued interest will be paid to Modelio Equity AB in cash. Following the set-off that is now being carried out, there is no remaining outstanding loan to Modelio Equity AB.
Number of shares, share capital and dilution
The board of directors of ExpreS2ion has today resolved on the set-off share issue, pursuant to the authorization granted by the annual general meeting on 26 May 2020. All shares have also today been subscribed for by Modelio Equity AB, and the board of directors has also allotted the shares.
When the new share issue has been registered with the Swedish Companies Registration Office, the number of shares in ExpreS2ion will increase by 331,816 shares and thus amount to a total of 27,608,301 shares. The share capital will increase by approximately 38,868 and thus the total share capital will amount to approximately SEK 3,067,589. The dilution effect for the company's existing shareholders amounts to approximately 1.2 percent.
Certified Adviser
Svensk Kapitalmarknadsgranskning AB
Telefon: +46 11 32 30 732
E-post: ca@skmg.se
This press release constitutes inside information that ExpreS2ion Biotech Holding AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was sent for publication, through the agency of the contact persons set out below, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.
For further information about ExpreS2ion, please contact:
Bent U. Frandsen, CEO
Telephone: +45 4256 6869
E-mail: buf@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 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.