Hørsholm, Denmark, 14 August, 2020 – Oncology Venture A/S (Nasdaq First North Stockholm: OV.ST) (“OV” or the “Company”) today announces that it will issue 1,893,939 shares at a price per share of SEK 1.32 to Negma Group LTD in order to comply with the Company’s existing convertible loan note agreement. This share issue completes the share conversions related to OV’s call of the first tranche of convertible loan notes.
Oncology Venture announced on April 3rd, 2020, that it has called upon the first tranche of convertible loan notes in line with the terms from the financing agreement communicated on March 31st, 2020. Negma Group Ltd. has requested to convert SEK 2,500,000 of the notes into 1,893,939 shares of nominal DKK 0.05 each. This share conversion, announced today, finalizes the share issues related to the first tranche of convertible loan notes under the agreement.
OV has not utilized additional tranches under this agreement and remains in full control of any further issue of convertible loan notes.
The conversion price is fixed at SEK 1.32 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 9,288,716.57 divided into 185,774,331 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:
·https://oncologyventure.com/press-release/press-release-oncology-venture-establishes-a-convertible-note-program-of-100-million-sek/
For further information, please contact:
Henrik Moltke, CFO
E-mail: hm@oncologyventure.com
Telephone +45 53 63 96 37
About Oncology Venture A/S
Oncology Venture A/S (Nasdaq First North Growth Market Stockholm: OV.ST) develops drugs for the personalized treatment of cancer using drug-specific companion diagnostics (cDx) generated by its proprietary drug response predictor technology, DRP®. The Company has three high-priority programs: 2X-121 – a PARP inhibitor in Phase 2 trials for treatment of ovarian cancer; IXEMPRA® (Ixabepilone) – an approved and marketed (U.S.) microtubule inhibitor being advanced for Phase 2 clinical development (in EU) for treatment of breast cancer; and Dovitinib – a pan-tyrosine kinase inhibitor (pan-TKI) that is post Phase 3 trials, being prepared for a U.S. new drug approval (NDA) filing in renal cell carcinoma (RCC).