28.04.2025
With reference to the stock exchange notice of 13th of January 2025 regarding new financing via a convertible loan. An investor, which participated in the investor consortium contributing to the convertible loan of total NOK 15 million, has exercised his right to convert the outstanding debt into shares. Debt that will be converted is NOK 510 000. The conversion amount includes accrued interest. The conversion price is set at NOK 3,00 per share based on the received conversion notice.
The Board of Directors will issue the shares, pursuant to authorization granted by the Company’s General Meeting on 26th April 2024. Following the capital increase, the Company’s shares outstanding will be 26.859.340 shares.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Act.
For more information, please contact:
Christer L. Valderhaug
CEO
Phone: +47 920 84 601
E-mail: christer@arctic-bioscience.com
About Arctic Bioscience
Arctic Bioscience is a biotech company developing and commercializing pharmaceutical and nutraceutical products based on unique bioactive marine compounds.
The company is developing HRO350 – a novel oral drug candidate. HRO350 is being developed for treatment of patients with mild-to-moderate psoriasis. This is a large patient group in need of new effective medicines with beneficial safety profile.
Nutraceuticals from Arctic Bioscience are sold globally as bulk ingredients as well as finished goods under the ROMEGA® brand.
Arctic Bioscience is led by a highly skilled team of talents with diverse and highly relevant background.