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BBS-Bioactive Bone Substitutes Plc: 57% of warrants 2-2022 (TO2) used for the subscription of shares, company raises EUR 162,000 in gross proceeds

Written by Customer Service on . Posted in Public Companies.

BBS-Bioactive Bone Substitutes Plc, Company Announcement, 7 June 2023 at 10.30 p.m. EEST

BBS-Bioactive Bone Substitutes Plc: 57% of warrants 2-2022 (TO2) used for the subscription of shares, company raises EUR 162,000 in gross proceeds.

The subscription period for BBS-Bioactive Bone Substitutes Plc’s (“BBS” or “Company”) first series of warrants 2-2022 (TO2) ended on 2 June 2023. In total, 254 580 warrants 2-2022 (TO2) were used, corresponding to approximately 57.2 percent of the total number of warrants. BBS received approximately EUR 162,000 in gross proceeds before expenses. The company’s Board of Directors has today approved the share subscriptions.

The subscription price was EUR 0.65 and SEK 7.38 per share. The subscription period for the shares was 22 May – 2 June 2023.

The shares are expected to be registered in the trade register on 13 June 2023 and trading is estimated to begin on 14 June 2023. The warrants which were not used to subscribe to the shares will be removed from the book-entry accounts of shareholders.

“We are very pleased that a total of 781 shareholders subscribed for shares with warrants. Originally, warrants were given to a total of 1,672 shareholders in connection with the 2022 rights issue. The proceeds received from subscriptions made with warrants will be used for the same purpose as those to be collected from the rights issue starting next week,” says CEO Ilkka Kangasniemi.

Directed share issue without consideration for investors who have subscribed for shares with warrants (TO2)

In addition, in accordance with the resolution announced by the Board of Directors on 5 June 2023, it was resolved on a directed share issue without consideration to the investors who have subscribed for shares based on warrants 2-2022 (TO2). A maximum of  50 663 shares held by the company will be issued in the directed share issue without consideration. The number of shares issued to each investor has been calculated so that one (1) share is given for every five (5) shares subscribed for with the warrants 2-2022 (TO2).

Since the subscription price of the shares with warrants 2-2022 (TO2) was higher than the subscription price used in the rights issue resolved by the Board of Directors on 5 June 2023 (the “Offering”) and because the investors who subscribed for shares with the warrants 2-2022 (TO2) are unable to participate in the Offering with the new shares subscribed for with the warrants 2-2022 (TO2) due to the time schedule of the Offering, the Board of Directors considers that the equal treatment of shareholders constitutes a particularly weighty financial reason for the directed transfer of shares without consideration from the point of view of the company and taking into account the interests of all its shareholders.

Following the registration of the new shares and above mentioned directed share issue, the total number of shares in BBS will be 10 432 454 of which  341 465 are treasury shares held by the company.

For more information, please contact:

Ilkka Kangasniemi, CEO,
+358 40 7080307,
ilkka.kangasniemi@bbs-artebone.fi

Certified Advisor:
Nordic Certified Adviser AB,
+46 70 551 67 29,
info@certifiedadviser.se

BBS in brief

BBS -Bioactive Bone Substitutes Plc is a orthobiology company that started its operations in 2003. We have developed a new product for the treatment of complex bone fractures and bone healing issues. Our goal is to provide next-generation medical products for the treatment of bone injuries in orthopedic surgery. In the pharmaceutical industry, the development and research work require perseverance and courage to innovate. We have a track record of over 20 years in this field. Our company is characterized by expertise, innovation, and dedicated employees who are passionate about their work. Our developed product, ARTEBONE®, is in the final stages of product development, and we are seeking the CE marking to enable its commercialization in the EU market. We are based in Oulu with a medical manufacturing facility in Reisjärvi, holding a manufacturing license. The company’s headquarters are in Oulu, and we employ 20 people.

BBS has been listed on Nasdaq First North Growth Market Finland since February 2018.

More information: www.bbs-artebone.fi 

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