Zealand Pharma increases its share capital as a consequence of exercise of employee warrants

Rhea-AI Summary

Zealand Pharma has increased its share capital by DKK 13,851 through the exercise of employee warrants, resulting in the issuance of 13,851 new shares. The exercise prices were DKK 135.30 for 2,976 shares and DKK 142.45 for 10,875 shares, generating total proceeds of approximately DKK 1.95 million. Following this increase, Zealand's total share capital will amount to DKK 39,778,961, comprised of 39,778,961 shares. Each new share grants rights to dividends and voting at general meetings.

Positive

• Increased share capital by DKK 13,851 enhances financial liquidity.
• Exercise of warrants brought in proceeds of approximately DKK 1.95 million.
• New shares provide rights to dividends and voting, potentially increasing shareholder engagement.

Negative

• None.

Company announcement – No. 48 / 2020

Zealand Pharma increases its share capital as a consequence of exercise of employee warrants

Copenhagen, September 11, 2020 – Zealand Pharma A/S (“Zealand”) (NASDAQ: ZEAL) (CVR-no. 20 04 50 78), a Copenhagen-based biotechnology company focused on the discovery and development of innovative peptide-based medicines, has increased its share capital by a nominal amount of DKK 13,851 divided into 13,851 new shares with a nominal value of DKK 1 each. The increase is a consequence of the exercise of warrants granted under several of Zealand's employee warrant programs. Employee warrant programs are part of Zealand’s incentive scheme, and each warrant gives the owner the right to subscribe for one new Zealand share at a pre specified price, the exercise price, in specific predefined time periods before expiration. For a more detailed description of Zealand’s warrant programs, see the company’s Articles of Association, which are available on the website: www.zealandpharma.com.

The exercise price was DKK 135.30 per share for 2,976 of the new shares and DKK 142.45 per share for 10,875 of the new shares. The total proceeds to Zealand from the capital increase amount to DKK 1,951,796.55.

The new shares give rights to dividend and other rights from the time of the warrant holder's exercise notice. Each new share carries one vote at Zealand’s general meetings. Zealand has only one class of shares.

The new shares will be listed on Nasdaq Copenhagen after registration of the capital increase with the Danish Business Authority. Following registration of the new shares, the share capital of Zealand will be nominal DKK 39,778,961 divided into 39,778,961 shares with a nominal value of DKK 1 each.

The amendment to Zealand’s Articles of Association entailed by the share capital increase has today been registered with the Danish Business Authority.

# # #

About Zealand Pharma A/S
Zealand Pharma A/S (Nasdaq: ZEAL) ("Zealand") is a biotechnology company focused on the discovery, development and commercialization of innovative peptide-based medicines. More than 10 drug candidates invented by Zealand have advanced into clinical development, of which two have reached the market. Zealand’s robust pipeline of investigational medicines includes three candidates in late stage development, and one candidate being reviewed for regulatory approval in the United States. Zealand markets V-Go^®, an all-in-one basal-bolus insulin delivery option for people with diabetes. License collaborations with Boehringer Ingelheim and Alexion Pharmaceuticals create opportunity for more patients to potentially benefit from Zealand-invented peptide therapeutics.

Zealand was founded in 1998 in Copenhagen, Denmark, and has presence throughout the U.S. that includes key locations in New York, Boston, and Marlborough (MA). For more information about Zealand’s business and activities, please visit www.zealandpharma.com.  

Forward-Looking Statement

The above information contains forward-looking statements that provide Zealand Pharma’s expectations or forecasts of future events. Such forward-looking statements are subject to risks, uncertainties and inaccurate assumptions, which may cause actual results to differ materially from expectations set forth herein and may cause any or all of such forward-looking statements to be incorrect. If any or all of such forward-looking statements prove to be incorrect, our actual results could differ materially and adversely from those anticipated or implied by such statements. All such forward-looking statements speak only as of the date of this release and are based on information available to Zealand Pharma as of the date of this release.

For further information, please contact:

Mads Kronborg
Head of Investor Relations & Communication
Phone: +45 5060 3707
Email: mkronborg@zealandpharma.com

For U.S. Media
David Rosen
Argot Partners
Phone: 212-600-1902
Email: media@zealandpharma.com

FAQ

What prompted Zealand Pharma to increase its share capital?

The increase in share capital was due to the exercise of employee warrants under several incentive programs.

What is the total amount raised from the warrant exercises by Zealand Pharma?

Zealand Pharma raised approximately DKK 1,951,796.55 from the exercise of employee warrants.

How many new shares did Zealand Pharma issue?

Zealand Pharma issued a total of 13,851 new shares as a result of the warrant exercises.

What will be the new share capital of Zealand Pharma after the capital increase?

The new share capital will be DKK 39,778,961, divided into 39,778,961 shares.

What are the rights associated with the new shares issued by Zealand Pharma?

The new shares grant rights to dividends and voting at Zealand's general meetings.