Sopharma resolved the issue with the Commercial Registry and announced the start of the last warrants exercise (NEUTRAL)

31.10.2024 Source: Sopharma; FFBH

Sopharma announced the start of the procedure for the last warrants exercise despite the refusal of the Commercial Registry to enter Sopharma’s announcement regarding the start of the procedure. The right to participate in the increase by exercising warrants have the warrantholders who have acquired warrants no later than 5 business days from the date of publication (30 October) of the announcement under Art. 89t, para. 2 of the Law on the Public Offering of Securities, which appears to be 6 November, meaning that last day for purchasing warrants giving rights to participate on the procedure is 4 November. The start date for subscription should also be 6 November while the term for payment and subscription of shares is until the maturity date of the issue (11 January 2025). Currently there are 623 779 existing warrants giving rights for subscription of ordinary shares with nominal value of BGN 1.00 and an issue price of BGN 4.13. Recall, that in Q4’21, Sopharma issued 44 925 943 warrants at an issue price and strike price of BGN 0.28 and BGN 4.13. In September 2023, 84.12% of the warrants were exercised, raising BGN 156.1m in total. Then, in February 2024 another 6.5m warrants were exercised, raising BGN 26.9m.