Grant of Warrants
September 22, 2023
Announcement no. 16
Grant of Warrants
COPENHAGEN, DENMARK and BOSTON, MA, USA, September 22, 2023, (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 700,000 warrants to members of the Board of Directors of the Company, and further to issue a total of 2,750,000 warrants to employees of the BioPorto group.
Each warrant grants the holder the right to subscribe for one share in BioPorto. The exercise price is DKK 1.686 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.
The warrants to the employees vest twelve (12) months after the Company achieves marketing rights from the FDA for its NGAL test for pediatric use. 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.
The warrants to the members of the board are subject to the terms set out in the notice for the annual general meeting included in company Announcement no. 5 of April 5, 2023.
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 1,689,000. The calculation is based on the Black-Scholes formula using an interest rate of 3.39% and the historical volatility of BioPorto A/S’ shares over 15 months calculated to 62.90%.
For investor inquiries, please contact:
Tim Eriksen, EU Investor Relations, Zenith Advisory, +45 4529 0000, [email protected]
Ashley R. Robinson, US Investor Relations, LifeSci Advisors, +1 617 430 7577, [email protected]
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 product is The NGAL TestTM, which has been designed to aid in the risk assessment of Acute Kidney Injury (AKI), a common clinical syndrome that can have severe consequences, including significant morbidity and mortality, if not identified and treated early. With the aid of The NGAL Test, 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 NGAL Test is CE marked and registered 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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