Grant of warrants
23 April 2024
Announcement no. 9
Grant of Warrants
COPENHAGEN, DENMARK and BOSTON, MA, USA, April 23, 2024 (GLOBE NEWSWIRE) - The Board of Directors of BioPorto A/S ("BioPorto" or the "Company") (CPH:BIOPOR) has resolved, in accordance with the annual general meeting's resolution on April 27, 2023, to issue a total of 4,000,000 warrants to members of the Executive Management.
Each warrant grants the holder the right to subscribe for one share in BioPorto. The exercise price is DKK 1.23 per share, corresponding to the closing price today on Nasdaq Copenhagen. The warrants are issued in accordance with section 18 a of the Articles of Association.
Half of the warrants vest over a 2-year period, and the remaining half upon completion of a qualified capital raise in the Company with terms of qualification (including timing and amount of proceeds) to be defined by the Board of Directors. The warrants are otherwise subject to the Company's incentive warrant program as included in Appendix 1 of the Company's Articles of Association. The warrants include conditions on claw-back in case of e.g., erroneous financial information and provisions on accelerated vesting in case of e.g., a takeover bid and/or business combinations.
Detailed terms of the new and existing warrants, including applicable vesting schedules and exercise periods, can be found in the Articles of Association on www.bioporto.com under Investor Relations> Governance> Company Articles.
The theoretical market value of the newly issued warrants is DKK 1,285,000. The calculation is based on the Black-Scholes formula using an interest rate of 3.19% and the historical volatility of BioPorto A/S' shares over 11 months calculated to 66.44%.
To receive BioPorto's Company Announcements, Press Releases, Newsletters and other business relevant information, please sign up on https://bioporto.com/investor-contact/.
For inquiries, please contact
Investor Relations
Claus Thestrup, HC Andersen Capital, +45 4529 0000, investor@bioporto.com
Ashley R. Robinson, LifeSci Advisors, +1 617 430 7577, arr@lifesciadvisors.com
About Acute Kidney Injury
Acute kidney injury is a sudden episode of kidney failure or kidney damage that happens within a few hours or a few days. AKI causes a build-up of waste products in blood and makes it difficult for kidneys to maintain the proper balance of bodily fluids. AKI can also affect other organs such as the brain, heart, and lungs and is common in patients who are in hospital intensive care units. For more information about AKI please visit: https://bioporto.com/aki/.
About BioPorto
BioPorto is an in vitro diagnostics company focused on saving lives and improving the quality of life with actionable biomarkers - tools designed to help clinicians make changes in patient management. The Company uses its expertise in antibodies and assay development, as well as its platform for assay development, to create a pipeline of novel and compelling products that focus on conditions where there is significant unmet medical need, and where the Company's tests can help improve clinical and economic outcomes for patients, providers, and the healthcare ecosystem.
The Company's flagship products are based on the NGAL biomarker and designed to aid in the risk assessment and diagnosis of Acute Kidney Injury, a common clinical syndrome that can have severe consequences, including significant morbidity and mortality, if not identified and treated early. With the aid of NGAL levels, physicians can identify patients potentially at risk of AKI more rapidly than is possible with current standard of care measurements, enabling earlier intervention and more tailored patient management strategies. The Company markets NGAL tests under applicable registrations including CE mark in several countries worldwide.
BioPorto has facilities in Copenhagen, Denmark and Boston, MA, USA. The shares of BioPorto A/S are listed on the Nasdaq Copenhagen stock exchange. For more information visit www.bioporto.com.
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