Capital Increase in Bavarian Nordic A/S as a Result of Employee Warrant Exercise
- Board member increases shareholdings after exercise of warrants
COPENHAGEN, Denmark, November 16, 2015 – Bavarian Nordic A/S (OMX: BAVA, OTC: BVNRY) announced today that the Company's share capital has been increased by nominally DKK 1,852,970 as a consequence of employees’ exercise of warrants.
The capital increase was effected without any pre-emption rights for the existing shareholders of the Company or others. The shares were subscribed for in cash at the following prices per share of nominally DKK 10: 35,500 shares at DKK 54.10 and 149,797 shares at DKK 59.10. The total proceeds to Bavarian Nordic A/S from the capital increase amounts to DKK 10.75 million.
Each share of nominally DKK 10 carries one vote at general meetings in the Company. The new shares give rights to dividend and other rights in the Company from the time of subscription. The new shares are expected to be admitted to trading and official listing on Nasdaq Copenhagen on November 17, 2015. After registration of the capital increase with the Danish Business Authority, Bavarian Nordic A/S' share capital amounts to DKK 280,196,710.
The capital increase includes the exercise of 10,000 warrants for the subscription of 10,000 new shares by board member Erik G. Hansen as reported to the Danish Financial Supervisory Authority (“Finanstilsynet”). Erik. G. Hansen subsequently holds 24,000 shares in Bavarian Nordic.
The revised Articles of Association will be published separately and will subsequently be available on the Company's website.
The content of this announcement does not affect the Company’s expectations for the financial results for 2015.
Rolf Sass Sørensen
Vice President Investor Relations (EU)
Tel: +45 61 77 47 43
Vice President Investor Relations (US)
Tel: +1 978 341 5271
About Bavarian Nordic
Bavarian Nordic is a fully integrated biotechnology company focused on the development, manufacturing and commercialization of cancer immunotherapies and vaccines for infectious diseases, based on the Company’s live virus vaccine platform. Through long-standing collaborations, including a collaboration with the U.S. government, Bavarian Nordic has developed a portfolio of vaccines for infectious diseases, including the non-replicating smallpox vaccine, IMVAMUNE®, which is stockpiled for emergency use by the United States and other governments. The vaccine is approved in the European Union (under the trade name IMVANEX®) and in Canada. Bavarian Nordic and its partner Janssen are developing an Ebola vaccine regimen, which has been fast-tracked, with the backing of worldwide health authorities. Additionally, in collaboration with the National Cancer Institute, Bavarian Nordic has developed a portfolio of active cancer immunotherapies, including PROSTVAC®, which is currently in Phase 3 clinical development for the treatment of advanced prostate cancer. The company has partnered with Bristol-Myers Squibb for the potential commercialization of PROSTVAC. For more information visit www.bavarian-nordic.com or follow us on Twitter @bavariannordic.
This announcement includes forward-looking statements that involve risks, uncertainties and other factors, many of which are outside of our control, that could cause actual results to differ materially from the results discussed in the forward-looking statements. Forward-looking statements include statements concerning our plans, objectives, goals, future events, performance and/or other information that is not historical information. All such forward-looking statements are expressly qualified by these cautionary statements and any other cautionary statements which may accompany the forward-looking statements. We undertake no obligation to publicly update or revise forward-looking statements to reflect subsequent events or circumstances after the date made, except as required by law.
Company Announcement no. 32 / 2015