COPENHAGEN - Zealand Pharma A/S (NASDAQ:ZEAL), a biotechnology company specializing in peptide-based medicines, has announced an increase in its share capital by DKK 102,581, equating to 102,581 new shares with a nominal value of DKK 1 each. This development occurred on Monday, following the exercise of employee warrants under several of the company's incentive programs.
The exercised warrants, which are part of Zealand Pharma's employee remuneration strategy, allowed employees to subscribe for new shares at predetermined prices within specific timeframes. The exercise prices for the new shares varied: DKK 127.00 for 13,285 shares, DKK 138.60 for 42,961 shares, and DKK 224.40 for 46,335 shares, bringing the total proceeds from the capital increase to DKK 18,039,163.60.
The new shares confer the same rights as the existing shares, including dividend eligibility and voting rights at general meetings, from the time of warrant exercise. Zealand Pharma maintains a single class of shares, and the newly issued shares will be listed on Nasdaq Copenhagen following their registration with the Danish Business Authority.
As a result of this capital increase, Zealand Pharma's share capital will reach a nominal value of DKK 62,615,203, divided into 62,615,203 shares of DKK 1 nominal value each. The amended Articles of Association reflecting this change will be made available on the company's website after registration with the Danish Business Authority.
Zealand Pharma, established in 1998 and based in Copenhagen, has a robust portfolio of drug candidates, including two marketed products and three in late-stage development. The company's growth and expansion are supported through strategic partnerships in both development and commercialization phases.
This capital increase through the exercise of employee warrants demonstrates an ongoing commitment to involve employees in the company's growth and success. The information regarding this share capital expansion is based on a press release statement from the company.
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