Private placement of 50,000,000 new shares oversubscribed - gross proceeds of DKK 81.4 million, corresponding to USD 11.7 million, to BioPorto A/S.
June 18, 2024
Announcement no. 14
Private placement of 50,000,000 new shares oversubscribed - gross proceeds of DKK 81.4 million, corresponding to USD 11.7 million, to BioPorto A/S.
COPENHAGEN, DENMARK and BOSTON, MA, USA, June 18, 2024, (GLOBE NEWSWIRE) – With reference to company announcement no. 13 of 17 June, 2024, the Board of Directors of BioPorto A/S (“BioPorto” or the “Company”) (CPH:BIOPOR), an in vitro diagnostics company focused on empowering the early detection of Acute Kidney Injury (AKI), can announce that the private placement comprising 50,000,000 new shares has been oversubscribed.
Peter Mørch Eriksen, CEO of BioPorto, says: “I am very pleased with the strong commitments from both our largest existing shareholders and new investors attracted to our company and investment case. The ongoing support from owners and investors to the Company, our products and the new strategy launched in February 2024 is highly encouraging and will continue to push our performance to deliver on our targets and optimize value for customers, their patients and our shareholders.”
The aggregate subscription price for the 50,000,000 new shares of DKK 81,400,000 is to be paid-in on June 24, 2024. BioPorto expects the new shares to be admitted to trading and official listing on Nasdaq Copenhagen A/S under the Company’s permanent ISIN-code (DK0011048619) as soon as possible thereafter, currently expected to be no later than end-June 2024.
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For inquiries, please contact
Investor Relations
Tim Eriksen, +45 4529 0000, investor@bioporto.com
Claus Thestrup, HC Andersen Capital, 45 4529 0000, investor@bioporto.com
Ashley R. Robinson, LifeSci Advisors, +1 617 430 7577, arr@lifesciadvisors.com
About Acute Kidney Injury
Acute kidney injury is a sudden episode of kidney failure or kidney damage that happens within a few hours or a few days. AKI causes a build-up of waste products in blood and makes it difficult for kidneys to maintain the proper balance of bodily fluids. AKI can also affect other organs such as the brain, heart, and lungs and is common in patients who are in hospital intensive care units. For more information about AKI please visit: https://bioporto.com/aki/.
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 2024; 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 2023, with the Danish Financial Supervisory Authority, particularly under the heading “Risk Factors”.
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