Grant of warrants
December 31,
2021Announcement
no. 24Grant of warrants
Today, the Board of Directors of BioPorto A/S (“BioPorto”)
(Nasdaq: BIOPOR) has exercised its current authorization by issuing
12,600,000 warrants to key employees and executive management of
BioPorto.
The warrants are issued in accordance with the company’s
remuneration policy and the authorization in section 17 a of the
Articles of Association.
Each warrant grants the holder the right to subscribe for one
share in BioPorto. The exercise price is DKK 2.47 per share
(corresponding the closing price on December 30 2021 on Nasdaq
Copenhagen). The warrants generally vest over a four-year period.
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, and with regard to a total of 1,700,000 warrants,
upon U.S Food & Drug Administration approval of The NGAL Test
for pediatric use.
After this grant of warrants the total number of outstanding
warrants is 21,050,000, as shown in the table below:
|
|
Number of warrants: |
|
|
Specified as follows: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Warrant |
|
|
|
|
|
Corporate |
Prev. |
Other |
|
|
programs |
Granted |
Cancelled |
Exercised |
Outstanding |
management |
management |
employees |
Total |
|
|
|
|
|
|
|
|
|
|
|
|
2016 |
6,368,696 |
5,196,196 |
1,172,500 |
0 |
|
0 |
0 |
0 |
0 |
|
Jun. 2018 |
900,000 |
900,000 |
0 |
0 |
|
0 |
0 |
0 |
0 |
|
Aug. 2018 |
4,100,000 |
2,000,000 |
0 |
2,100,000 |
|
0 |
1,700,000 |
400,000 |
2,100,000 |
|
Dec. 2018 |
2,500,000 |
700,000 |
0 |
1,800,000 |
|
0 |
1,800,000 |
0 |
1,800,000 |
|
Apr. 2019 |
5,100,000 |
3,750,000 |
0 |
1,350,000 |
|
0 |
1,350,000 |
0 |
1,350,000 |
|
Aug. 2019 |
1,500,000 |
250,000 |
0 |
1,250,000 |
|
1,000,000 |
0 |
250,000 |
1,250,000 |
|
Dec. 2019 |
250,000 |
0 |
0 |
250,000 |
|
0 |
0 |
250,000 |
250,000 |
|
May 2020 |
2,150,000 |
800,000 |
0 |
1,350,000 |
|
1,000,000 |
0 |
350,000 |
1,350,000 |
|
Feb. 2021 |
350,000 |
0 |
0 |
350,000 |
|
0 |
0 |
350,000 |
350,000 |
|
Dec. 2021 |
12,600,000 |
0 |
0 |
12,600,000 |
|
9,600,000 |
0 |
3,000,000 |
12,600,000 |
|
|
|
|
|
|
|
|
|
|
|
|
Total |
35,818,696 |
13,596,196 |
1,172,500 |
21,050,000 |
|
11,600,000 |
4,850,000 |
4,600,000 |
21,050,000 |
Detailed terms of the new and existing warrants, including
applicable vesting schedules, can be found in the Articles of
Association on www.bioporto.com under Investor Relations>
Governance> Company Articles.
The total number of shares granted and which the warrant holders
will be able to subscribe upon exercise of the warrants, is
12,600,000. The theoretical market value of the allocations of
warrants amounts to DKK 13 million. The calculation is based on the
Black-Scholes formula using an interest rate of -0.58% and the
historical volatility of BioPorto A/S' shares of 27 months
calculated to 72.12%.
For further information, please contact:
Tim Eriksen, Investor Relations, e-mail:
tee@bioporto.com
About BioPorto
BioPorto is an in vitro diagnostics company that
provides tests and antibodies to clinicians and researchers around
the world. We use our antibody and assay expertise to transform
novel research tools into clinically actionable biomarkers that can
make a difference in patients’ lives. BioPorto is headquartered in
Hellerup, Denmark and is listed on the NASDAQ Copenhagen stock
exchange [CPH:BIOPOR].
- 2021 12 31 Company announcement no. 24
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