Business
Final results of Bioretec Ltd's successful rights issue
Bioretec Ltd Company announcement 24 June 2025 at 18:30 EEST
About this update from Bioretec Ltd.
[{"type":"text","content":"TAMPERE, Finland, June 24, 2025 /PRNewswire/ -- Bioretec Ltd Company announcement 24 June 2025 at 18:30 EEST","length":118,"tagName":"p"},{"type":"text","content":"NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SOUTH AFRICA OR SINGAPORE, OR ANY OTHER JURISDICTION IN WHICH PUBLICATION OR DISTRIBUTION WOULD BE UNLAWFUL.","length":279,"tagName":"p"},{"type":"text","content":"The final results of Bioretec Ltd's ("Bioretec" or the "Company") rights issue (the "Offering") show that a total of 7,658,836 new shares (the "New Shares") were subscribed for in the Offering, corresponding to approximately 124.4 per cent of the 6,156,618 New Shares offered in the Offering, and the Offering was thus oversubscribed. A total of 4,882,744 New Shares were subscribed for with subscription rights, corresponding to approximately 79.3 per cent of the 6,156,618 New Shares. The remaining 1,273,874 New Shares were allocated in accordance with the terms and conditions of the Offering in the secondary subscription to subscribers who subscribed for New Shares also with subscription rights. The subscription price in the Offering was EUR 1.50 per New Share. Bioretec receives gross proceeds of approximately EUR 9.2 million from the Offering.","length":898,"tagName":"p"},{"type":"text","content":"Bioretec's Board of Directors has today approved the subscriptions made in the Offering, and allocated the New Shares to be issued, in accordance with the terms and conditions of the Offering. As a result of the Offering, the total number of shares in Bioretec will increase by 6,156,618 from 24,626,474 to 30,783,092. The New Shares issued in the Offering amount to approximately 20.0 per cent of the outstanding shares in Bioretec following the Offering.","length":460,"tagName":"p"},{"type":"text","content":"The last day of trading in the interim shares on Nasdaq First North Growth Market Finland ("First North") will be on or about 26 June 2025. The New Shares will be registered with the Finnish Trade Register maintained by the Finnish Patent and Registration Office on or about 26 June 2025. The interim shares will be combined with the Company's existing shares once the New Shar...