|Press Release Oncology Venture is issuing 1,574,803 shares under its existing convertible loan note agreement with Negma Group LTD and Park Partners GP|
|By: GlobenewsWire - 30 Jun 2020||Back to overview list
Hørsholm, Denmark, June 30th, 2020 – Oncology Venture A/S (Nasdaq First North Stockholm: OV.ST) (“OV” or the “Company”) today announces that it will issue 1,574,803 shares at a price per share of SEK 1.27 to Negma Group LTD in order to comply with the Company’s existing convertible loan note agreement.
The share issue is carried out pursuant to the convertible loan note agreement with Negma Group LTD and Park Partners GP.
Oncology Venture announced on April 3rd, 2020, that it has called upon the first tranche of convertible loan notes of SEK 10 million in line with the terms from the financing agreement communicated on March 31st, 2020. Negma Group Ltd. has today requested to convert SEK 2,000,000 of the notes into 1,574,803 shares of nominal DKK 0.05 each.
The conversion price is fixed at SEK 1.27 per share of nominal DKK 0.05 share and has been calculated as 95% of the lowest VWAP share price of the seven consecutive trading days prior the receipt of the conversion request, excluding trading days on which the closing VWAP is lower than 90 % of the average closing VWAP over the pricing period otherwise calculated.
The registered share capital of Oncology Venture will after the conversion be nominal DKK 8,462,049,15 divided into 169,240,983 shares of nominal DKK 0,05 each.
For more information, please, see the press release regarding the financial agreement published March 31st, 2020. The press release can be found on the Company’s homepage:
For further information, please contact:
Henrik Moltke, CFO
About Oncology Venture A/S
About the Drug Response Predictor – DRP® Companion Diagnostic
Oncology Venture uses its drug-specific DRP® cDx to select those patients who, by the genetic signature of their cancer, are found to have a high likelihood of responding to the specific drug. The DRP® method builds on the comparison of sensitive vs. resistant human cancer cell lines, including genomic information from cell lines combined with clinical tumor biology and prior clinical trial outcomes. The DRP® platform can be used in all cancer types and is patented for more than 70 anti-cancer drugs in the U.S.
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This information is information that Oncology Venture A/S is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication on June 30th, 2020.
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