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Evaxion A/S (NASDAQ:EVAX) reported several amendments to its Articles of Association reflecting recent share capital increases, according to a press release statement filed with the SEC.
On September 25, the company sold 1,018,000 American Depositary Shares (ADSs), each representing fifty ordinary shares, at an average price of $4.3931 per ADS. The transaction, conducted as an at-the-market offering under an agreement with Jones Trading Institutional Services LLC, resulted in net proceeds of approximately $4.3 million after fees and expenses. Following this sale, Evaxion registered a share capital increase of nominal DKK 12,725,000 with the Danish Business Authority, effective September 26, bringing total share capital to nominal DKK 91,682,151.50.
The Articles of Association were amended again in connection with the exercise of certain investor warrants between October 3 and October 10. During this period, Evaxion registered further share capital increases totaling nominal DKK 7,366,312.5, raising the aggregate share capital to nominal DKK 99,048,464. The warrant exercises brought in aggregate cash consideration of DKK 10,344,064.35, or approximately $1,608,519 based on the exchange rate on October 10. Payments included both DKK and USD amounts.
Specifically, the company amended its Articles of Association to reflect the following share issuances and capital increases:
- On October 3, issuance of 21,705,100 ordinary shares (nominal DKK 5,426,275) for $1,176,416.42;
- On October 7, issuance of 1,325,150 ordinary shares (nominal DKK 331,287.50) for $71,823.13;
- On October 8, issuance of 1,625,000 ordinary shares (nominal DKK 406,250) for $88,075.00;
- On October 9, issuance of 3,750,000 ordinary shares (nominal DKK 937,500) for DKK 1,446,900 (about $225,307.15);
- On October 10, issuance of 1,060,000 ordinary shares (nominal DKK 265,000) for DKK 353,262.15 (about $54,932.85) and $7,452.50.
The amended Articles of Association reflecting these changes are attached as an exhibit to the SEC filing.
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