FIT Biotech Oy
Company release 10.01.2018 at 21:30 EET
FIT Biotech's EUR 10 million financing agreements' share loan and first part of commitment fee related shares have been handed over today to Alpha Blue Ocean
FIT Biotech Oy (the "Company") reported on December 23, 2017 to have entered into a financing agreement with London based Alpha Blue Ocean Investment Group ("ABO"). The Agreement is expected to be presented for approval of an Extraordinary Shareholders Meeting to be held latest in February 2018.
The Board of Directors had drawn down the first Tranche of EUR 500,000 on December 28, 2017 and handed over the convertible notes and 37,500,000 warrants which entitle to subscribe for the Company's K shares.
The Company (as the lender) has provided to ABO a total of 41,666,667 K shares as a share loan today.
The first 200 000 euros of the Commitment fee was paid by handing over 16,666,667 K shares today.
For the transactions the Company used treasury shares authorized by the General Meeting held on December 14, 2017.
FIT BIOTECH OY
FIT Biotech Oy
Tel: +358 44 0331307
Certified Advisor: Aalto Capital Partners Oy Tel: +358 40 587 7000
About FIT Biotech:
FIT Biotech Oy is a biotechnology company established in 1995. The company develops and licenses its patented GTU® (Gene Transport Unit) vector technology for new-generation medical treatments. GTU® is a gene transport technology that meets an important medical challenge in the usability of gene therapy and DNA vaccines.
FIT Biotech applies GTU® technology in its drug development programs. Application areas include cancer (gene therapy) and infectious diseases such as HIV and tuberculosis, as well as animal vaccines.
FIT Biotech shares are listed on the First North Finland marketplace maintained by Nasdaq Helsinki Oy.