Business
Exercise of Investor Warrants & TVR
Exercise of Investor Warrants & TVR.
About this update from Hvivo Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7861N\n Open Orphan PLC\n 03 February 2021\n \n \n \n \n 3 February 2021\n \n \n Open Orphan plc\n \n \n (\"Open Orphan\" or the \"Company\")\n \n \n \n Exercise of Investor Warrants by Investors and Issue of Shares\n \n \n Total Voting Rights\n \n \n \n Open Orphan plc\n \n (AIM: ORPH), a rapidly growing specialist pharmaceutical services clinical research organization (CRO) and a world leader in vaccine and antiviral testing using human challenge clinical trials\n , has received notice of exercise of warrants by investors who participated in the Venn loan note financing in December 2018 over 1,349,349 ordinary shares of 0.1 pence each in the capital of the Company (\"Ordinary Shares\") at a price of 0.1 pence per share for 477,703 Ordinary Shares and at a price of 2.2 pence per share for 871,646 Ordinary Shares. The gross proceeds of this exercise received by the Company amounts to £19,653.91.\n \n \n Following this exercise the warrants issued in connection with the 2018 Venn loan note have been substantially exercised with 1,062,111 warrants outstanding. In addition, the 2018 Venn loan note has now been fully repaid, and as such, the current outstanding debt and loans owed by the Company is £319,000. \n \n \n The total outstanding warrants over Ordinary Shares are as follows:\n \n \n \n \n \n Number of Ordinary Shares\n \n \n \n \n Exercise Price per share\n \n \n \n \n Date awarded\n \n \n \n \n Expiry Date\n \n \n \n \n \n \n \n Beneficiary\n \n \n \n \n \n \n 166,666\n \n \n \n \n 30 pence\n \n \n \n \n 7 June 2011\n \n \n \n \n 6 June 2021\n \n \n \n \n \n \n \n An advisor\n \n \n \n \n \n \n 376,008\n \n \n \n \n 0.1 pence\n \n \n \n \n 11 December 2018\n \n \n \n \n 10 December 2023\n \n \n \n \n \n \n \n Venn loan note investors\n \n \n \n \n \n \n 686,083\n \n \n \n \n 2.2 pence\n \n \n \n \n 11 December 2018\n \n \n \n \n 10 December 2023\n \n \n \n \n \n \n \n Venn loan note investors\n \n \n \n \n \n \n 1,607,142\n \n \n \n \n 5.6 pence\n \n \n \n \n 28 June 2019\n \n \n \n \n 27 June 2024\n \n \n \n \n \n \n \n An advisor\n \n \n \n \n \n \n \nThe Company has made application for 1,349,349 new Ordinary Shares, to be issued and allotted as a result of the warrant exercise set out above, to be admitted to trading on AIM an...