ImmunoPrecise Antibodies Announces Grant of Stock Options

Rhea-AI Summary

ImmunoPrecise Antibodies Ltd. (NASDAQ: IPA) announced the approval of 170,000 stock options by its board of directors on January 7, 2022. These options are granted to certain officers and are exercisable at Cdn $7.94 per share for five years. The vesting schedule will allow one third of the options to vest every six months. ImmunoPrecise continues to focus on transforming antibody discovery with a comprehensive service suite aimed at optimizing genetic diversity and epitope coverage for its partners.

Positive

• Approval of 170,000 stock options enhances compensation structure for officers and aligns their interests with shareholders.
• Options granted at an exercise price of Cdn $7.94 suggests confidence in future share price appreciation.

Negative

• None.

VICTORIA, British Columbia--(BUSINESS WIRE)-- IMMUNOPRECISE ANTIBODIES LTD. (“IPA” or the “Company”) (NASDAQ: IPA) (TSXV: IPA), a leader in full-service, therapeutic antibody discovery, today announced that on January 7, 2022 its board of directors approved the grant of 170,000 stock options (the “Options”) under its stock option plan to acquire up to an aggregate of 170,000 common shares in the capital of IPA (“Common Shares”). The Options were granted to certain officers of IPA. Each Option is exercisable for a period of five years from the date of grant at an exercise price of Cdn $7.94 per Common Share. One third of the Options granted to each officer will vest every six months from the date of grant.

ImmunoPrecise Antibodies Ltd.

ImmunoPrecise is an innovation-driven technology platform company that supports its business partners in their quest to discover and develop novel antibodies against a broad range of classes of disease targets. The Company aims to transform the conventional multi-vendor antibody discovery model by providing a comprehensive suite of services tailored to optimize antibody genetic diversity and epitope coverage, to discover antibodies against rare and/or challenging epitopes. For further information, visit www.immunoprecise.com.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220111005779/en/

LifeSci Advisors

John Mullaly

Email: jmullaly@lifesciadvisors.com

Source: ImmunoPrecise Antibodies Ltd.

FAQ

What are the details of the stock options granted by ImmunoPrecise Antibodies Ltd. on January 7, 2022?

ImmunoPrecise approved the grant of 170,000 stock options, exercisable at Cdn $7.94 per share, vesting one third every six months for five years.

Who received the stock options from ImmunoPrecise Antibodies Ltd.?

The stock options were granted to certain officers of ImmunoPrecise Antibodies Ltd.

What is the significance of the stock options for ImmunoPrecise Antibodies Ltd. investors?

The granting of stock options aligns the officers' interests with shareholders and indicates confidence in the company's future performance.