FIT Biotech Oy
Company release January 23, 2017 at 15.00 pm EET
Conversion of FIT Biotech Oy's Convertible Notes into shares
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 January 20, 2017 resolved to approve Bracknor's request relating to the funding programme to convert EUR 50,000 worth of Convertible Notes into the Company's K shares.
Due to the conversion of the Convertible Notes, the Company issues 741,784 new K shares in the Company to Bracknor with the conversion price of EUR 0.067405 per share.
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 44,664,393 shares, and the share capital of the Company will be increased by EUR 49,999.95. After the issue of the new K shares in the Company, the Company's shares will be divided in share series as follows: 44,593,929 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 January 24, 2017 and the new K shares will be admitted to trading on First North Finland on or about January 25, 2017.
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.
Last updated on: 23/01/2017
PharmiWeb.com is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on PharmiWeb.com is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.