Reports and Releases
FIT Biotech Oy: Conversion of FIT Biotech Oy’s Convertible Capital Notes into shares – last conversion of Bracknor financing programme
FIT Biotech Oy
Company release February 26, 2018 at 5:30 PM EET
Conversion of FIT Biotech Oy's Convertible Capital Notes into shares - last conversion of Bracknor financing programme
Related to Convertible Note and Warrant Programmes established on September 26, 2016 between the FIT Biotech Oy ("Company") and Bracknor Investment ("Bracknor") the Company's Board of Directors has resolved on February 26, 2018 to approve Bracknor's request relating to the funding programme to convert EUR 380,000 worth of Convertible Capital Notes into the Company's K shares.
Due to the conversion of the Convertible Capital Notes, the Company transfers 194,373,400 new K shares in the Company to Bracknor with the conversion price of EUR 0.001955 per share and the share capital of the Company will be increased by EUR 380,000.00. The Board authorization is based on the Extraordinary General Meeting of December 14, 2017.
The K shares will be admitted to trading on First North Finland as soon as possible.
After this transaction FIT Biotech Oy has listed shares amounting to 577,209,430 K shares.
After the conversion of these Convertible Capital Notes, Bracknor does not have Convertible Capital Notes left to convert.
FIT BIOTECH OY
Board of Directors
For further information:
CEO Erkki Pekkarinen
Tel: +358 44 027 0080
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