Copenhagen, Denmark, April 28, 2025, (GLOBE NEWSWIRE) – The Board of Directors of BioPorto A/S (“BioPorto” or the “Company”) (CPH:BIOPOR) has today implemented the resolution of the annual general meeting held on April 11, 2025 to issue a total of 1,700,000 warrants as part of the remuneration to members of the Board of Directors of the Company.
Each warrant entitles the holder the right to subscribe for one share in BioPorto at an exercise price of DKK 1.50 per share, corresponding to the closing price today on Nasdaq Copenhagen. The warrants are issued in accordance with section 18 a of the Articles of Association.
The warrants are subject to the terms outlined in the notice convening the annual general meeting, as set out in Company Announcement no. 9 of April 11, 2025. Under these terms, the warrants vest in equal tranches on a quarterly basis over a two-year period, with the first tranche vesting on the first day of the first calendar quarter following the date of grant. Vested warrants may be exercised until April 28, 2035.
The warrants are further governed by the Company’s incentive warrant program, as included in Appendix 1 to the Company’s Articles of Association, with certain deviations as specified in the convening notice in Company Announcement no. 9 of April 11, 2025, and the Articles of Association. The warrants include conditions on claw-back in case of e.g., erroneous financial information, and provisions on accelerated vesting in case of e.g., a takeover bid and/or business combinations.
Detailed terms of the new and existing warrants can be found in the Articles of Association on www.bioporto.com under Investor Relations> Governance> Company Articles.
The theoretical market value of the newly issued warrants is DKK 1,843,580. The calculation is based on the Black-Scholes formula using an interest rate of 2.37% and the historical volatility of BioPorto A/S’ shares over 120 months calculated to 63.82%.
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Investor Relations Contacts
Hanne S. Foss, Head of Investor Relations, BioPorto A/S, investor@bioporto.com, C: +45 26368918
About BioPorto
BioPorto is an in vitro diagnostics company focused on saving lives and improving the quality of life with actionable biomarkers – tools designed to help clinicians make changes in patient management. The Company uses its expertise in antibodies and assay development, as well as its platform for assay development, to create a pipeline of novel and compelling products that focus on conditions where there is significant unmet medical need, and where the Company’s tests can help improve clinical and economic outcomes for patients, providers, and the healthcare ecosystem.
The Company’s flagship products are based on the NGAL biomarker and designed to aid in the risk assessment and diagnosis of Acute Kidney Injury, a common clinical syndrome that can have severe consequences, including significant morbidity and mortality, if not identified and treated early. With the aid of NGAL levels, physicians can identify patients potentially at risk of AKI more rapidly than is possible with current standard of care measurements, enabling earlier intervention and more tailored patient management strategies. The Company markets NGAL tests under applicable registrations including CE mark in several countries worldwide.
BioPorto has facilities in Copenhagen, Denmark and Boston, MA, USA. The shares of BioPorto A/S are listed on the Nasdaq Copenhagen stock exchange. For more information visit www.bioporto.com.
Forward looking statement disclaimer
Certain statements in this news release are not historical facts and may be forward-looking statements. Forward-looking statements include statements regarding the intent, belief or current expectations with respect to the Company’s expectations, intentions and projections regarding its future performance including the Company’s Guidance for 2025; currency exchange rate fluctuations; anticipated events or trends and other matters that are not historical facts, including with respect to implementation of manufacturing and quality systems, commercialization of NGAL tests, and the development of future products and new indications; concerns that may arise from additional data, analysis or results obtained during clinical trials; and, the Company’s ability to successfully market both new and existing products. These forward-looking statements, which may use words such as “aim”, “anticipate”, “believe”, “intend”, “estimate”, “expect” and words of similar meaning, include all matters that are not historical facts. These forward-looking statements involve risks, and uncertainties that could cause the actual results of operations, financial condition, liquidity, dividend policy and the development of the industry in which the Company’s business operates to differ materially from the impression created by the forward-looking statements. These statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. Given these risks and uncertainties, prospective investors are cautioned not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date of such statements and, except as required by applicable law, the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise. Factors that may impact BioPorto’s success are more fully disclosed in BioPorto’s periodic financial filings, including its Annual Report for 2024, with the Danish Financial Supervisory Authority, particularly under the heading “Risk Factors”.
