Reports and Releases
FIT Biotech Oy: Conversion of FIT Biotech Oy’s Convertible Notes into shares
FIT Biotech OyCompany release October 14, 2016 at 09.30 am EET
Conversion of FIT Biotech Oy's Convertible Notes into shares
On September 26, 2016, the Board of Directors of FIT Biotech Oy (hereinafter also the "Company") decided to establish Convertible Note and Warrant Programmes in order to implement the Convertible Notes with Warrants Funding Programme of up to EUR 12,480,000 between the Company and Bracknor Investment ("Bracknor").
The Company's board of directors has today resolved to approve Bracknor's request relating to the funding programme to convert EUR 30,000 worth of Convertible Notes into the Company's K shares.
Due to the conversion of the Convertible Notes, the Company issues 126,604 new K shares in the Company to Bracknor with the subscription price of EUR 0.24021.
As a result of the issue of the new K shares in the Company, the total number of shares in the Company will increase to 37,921,775 shares, and the share capital of the Company will be increased by EUR 29,999,83. After the issue of the new K shares in the Company, the Company's shares will be divided in share series as follows: 37,851,311 K shares, 5,229 A shares and 65,235 D shares.
The increase of the share capital and new K shares in the Company will be registered in the Trade Register on or about October 17, 2016 and the new K shares will be admitted to trading on First North Finland on or about October 18, 2016.
FIT BIOTECH OY
Board of Directors
For further information:
Chairman of the Board of Directors Juha Vapaavuori
Tel: +358 50 372 0824
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