10: BioPorto completes the subscription of convertible bonds
September 07 2010
Announcement 10
BioPorto completes the subscription of convertible bonds
On August 26, 2010, the Board of BioPorto A/S decided to take out convertible loans of the total nominal value of minimum DKK 7 million and maximum DKK 20 million through a private placement, as published in announcement no. 09 of August 26, 2010.
A total amount of DKK 13.95 million of convertible bonds has been subscribed and the loan is fully paid. The Board has decided to issue bonds for the full subscription amount. Issuance of the convertible bonds will take place on September 08, 2010. The issue gives BioPorto gross proceeds of DKK 13.95 million, of which transaction costs will be deducted as well as expected costs of prospectus preparation, totalling DKK 1.3 million. Net proceeds constitute 12.65 million. The prospectus preparation takes place as the bonds are put in for admittance to trading on NASDAQ OMX Copenhagen in the fourth quarter of 2010.
Terms of the convertible bonds and the conversion right are set out in announcement no. 09 of August 26, 2010. The Company’s articles of association are amended in accordance with the inclusion of the bond loan.
Distribution of the convertible bonds:
The issuance of the convertible bonds is distributed as follows:
| Investors | DKK million |
| Institutional investors | 7.05 |
| Private investors | 5.10 |
| BioPorto management | 1.80 |
The company's board and management have signed convertible bonds for a total of DKK 1.8 million corresponding to 12.9% of the bond loan, which is distributed as follows:
| Name | Function | DKK |
| Carsten Lønfeldt | Chairman of the Board | 300,000 |
| Marianne Weile | Board member | 300,000 |
| Peter Nordkild | Board member | 300,000 |
| Niels Tækker Foged | Board member | 300,000 |
| Thea Olesen | CEO | 300,000 |
| Frank Harder | CFO | 300,000 |
