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FIT Biotech Oy: Conversion of FIT Biotech Oy's Convertible Notes into shares

By GlobeNewswire,  December 02, 2016, 02:00:00 AM EDT


FIT Biotech Oy

Company release December 2, 2016 at 09:00 am

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 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 403,361 new K shares in the Company to Bracknor with the conversion price of EUR 0.074375 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 40,417,756 shares, and the share capital of the Company will be increased by EUR 29,999.97. After the issue of the new K shares in the Company, the Company's shares will be divided in share series as follows: 40,347,292 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 December 5, 2016 and the new K shares will be admitted to trading on First North Finland on or about December 7, 2016.

FIT BIOTECH OY

Board of Directors

For further information:

Chairman of the Board of Directors Juha Vapaavuori


E-mail: juha.vapaavuori@fitbiotech.com

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.

DISTRIBUTION:

Nasdaq Helsinki

Principal media





This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.

The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.

Source: FIT Biotech Oy via Globenewswire



This article appears in: News Headlines


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