Oryzon Requests the Start of Trading of 378,918 New Shares after Increasing its Capital

The Spanish biopharmaceutical company Oryzon Genomics will request admission to trading on the Continuous Market of the 378,918 new shares issued on the Madrid, Barcelona, ​​Bilbao and Valencia Stock Exchanges, through the Stock Market Interconnection System.

Specifically, Oryzon Genomics has proceeded to increase its share capital by a total nominal amount of 18,945.90 euros, through the issuance and putting into circulation of 378,918 new ordinary shares of 0.05 euros of nominal value each, according to reported this Tuesday to the National Securities Market Commission (Cnmv).

In this context, the company has communicated that the private equity investment company Nice&Green has proceeded to request a conversion of debentures for a joint nominal amount of 660,000 euros, at a conversion price of 1.7 euros per share , which represents 378,918 new shares with a nominal value of 0.05 euros each.

Oryzon Genomics signed a financing contract with Nice&Green through which it will be able to issue debentures convertible into new shares for a total amount of up to 45 million euros , as reported by the Spanish biopharmaceutical company last November.

Oryzon Genomics now has a share capital of 3.1 million euros, represented by 62 million shares

Therefore, the company’s new shares will be issued with an issue rate of 1.7 euros per share (0.05 euros nominal plus 1.6 euros share premium), with the total share premium being 641,053 euros. and the effective amount (nominal plus premium) of the capital increase of 659,999 euros.

Following the aforementioned capital increase, the share capital of Oryzon Genomics has been set at the amount of 3.1 million euros , represented by 62 million shares with a nominal value of 0.05 euros each.

The listed biotechnology company approved on June 26, 2023 that those shareholders who so desired could convert their titles to the company into so-called loyalty shares. This is an option included in the 2021 reform of the Capital Companies Law that gives two votes per title to those who request it from the Cnmv.

Enric Rello, financial director of Oryzon, explained to PlantaDoce that the reason why they are carrying out this change is because the power of their shareholders is widely distributed, which in technical terms is known as free float . According to the executive, its free float ranges between 83% and 85% .

This situation, Rello argued, can become an invitation to speculative investments that do not commit to the company in the long term. The objective of the measure, therefore, is to increase the weight of the decision of investors who intend to bet on the future of Oryzon Genomics.

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First published in PlantaDoce. A third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

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