Reports and Releases
FIT Biotech Oy: Conversion of FIT Biotech Oy’s Convertible Capital Notes into shares
FIT Biotech Oy
Company release February 8, 2018 at 04:00 PM EET
Conversion of FIT Biotech Oy's Convertible Capital Notes into shares
Related to Convertible Note and Warrant Programmes approved by the Board on December 22, 2017 between the FIT Biotech Oy ("Company") and Alpha Blue Ocean ("ABO") and approved by the Extraordinary General Meeting February 6, 2018, the Company's Board of Directors have resolved on February 8, 2018 to approve ABO's request relating to the funding programme to convert EUR 100,000 worth of Convertible Capital Notes into the Company's K shares.
Due to the conversion of the Convertible Capital Notes, the Company transfers 25,000,000 K shares owned by the Company to ABO with the conversion price of EUR 0.004 per share and the reserve for invested unrestricted equity of the Company will be increased by EUR 100,000.00. The Board authorization is based on Extraordinary General Meeting December 14, 2017.
The Company holds 97,760,973 K shares after the issuance of these shares.
The K shares will be admitted to trading on First North Finland on or about February 12, 2018.
After this transaction FIT Biotech Oy has listed shares amounting to 227,124,677 K shares.
FIT BIOTECH OY
Board of Directors
For further information:
CEO Erkki Pekkarinen
Certified Advisor: Aalto Capital Partners Oy, tel. +358 40 587 7000
About FIT Biotech
FIT Biotech Oy is a biotechnology company established in 1995. The company develops and licenses its patented GTU® (Gene Transport Unit) vector technology for new-generation medical treatments. GTU® is a gene transport technology that meets an important medical challenge in the usability of gene therapy and DNA vaccines.
FIT Biotech applies GTU® technology in its drug development programmes. Application areas include cancer (gene therapy) and infectious diseases such as HIV and tuberculosis, as well as animal vaccines.
FIT Biotech shares are listed on the First North Finland marketplace maintained by Nasdaq Helsinki Oy.
NASDAQ OMX Helsinki