Warrant holders exercise all warrants within the framework of incentive program
Regulatory press release 2020-08-21
Xspray Pharma AB (Nasdaq Stockholm: XSPRAY) announces today that the CEO Per Andersson and other warrant holders have chosen to make full use of the opportunity to subscribe for shares in Xspray by fully exercising their respective number of warrants in the warrant program LTIP 2017/2020. At the same time, Chairman of the Board Michael Wolff Jensen uses the opportunity to subscribe for shares in Xspray by fully exercising his warrants in the warrant program LTIP 2015/2021.
The warrant program 2017/2020, which included 199,591 warrants and which could be exercised August 1-21, 2020, has now been terminated and the company announces that all warrant holders have exercised their opportunity to subscribe for shares. To finance the shares and cover capital gains tax for some of the warrant holders, a small number of shares have been sold. CEO Per Andersson invested a total of SEK 3.4 million, thereby increasing his number of shares to 185,260.
“Systematically, we are approaching a marketed product with our patent protected technology. The results from the HyNap-Dasa study showed the high quality of our products and that we are ready to bring them to the market. I am confident that we now can realize our product candidates as commercial products and therefore it is a given for me to subscribe for all shares ", says CEO Per Andersson. "It is also very gratifying that all participants in the warrant program now subscribe for their full shares part in the warrant program, it confirms the participants' trust and commitment to Xspray."
The warrant program 2015/2021, which included 255,000 warrants, can be exercised during the periods August 1-21, 2020, and January 1-21, 2021, respectively. Chairman of the Board Michael Wolff Jensen’s private, wholly owned company MWJ Partners ApS now exercises its full number of warrants in the LTIP 2015/2021 warrant program. To cover capital gains tax debited in Denmark, which is based on an unrealized increase in value of MWJ Partners ApS holding in Xspray Pharma, 20,000 shares are sold. After the sale, the total shareholding increases to 33,700.
"I have great confidence in Xspray's experienced and determined team. Exercising my warrants is a logical step for me to show my interest in the company," says Chairman of the Board Michael Wolff Jensen.
Through the exercise, the number of shares and votes in the company will increase by 239,591 and thus amounts to 16,991,213.