Circio Holding ASA: Requested Conversion of Convertible Bonds

Summary by AI ^BETAClose X

Circio Holding ASA announced that Atlas Special Opportunities, LLC has requested the conversion of convertible bonds with a nominal value of NOK 2,500,000 into 4,146,166 new shares at a conversion price of NOK 0.60297 per share. Consequently, the company's share capital will increase by NOK 2,487,699.60. Following the conversion, the total share capital will be NOK 67,792,746.00, divided into 112,987,910 shares, each with a nominal value of NOK 0.60.

Disclaimer*

Reference is made to Circio Holding ASA's (the "Company") outstanding convertible bonds as issued to Atlas Special Opportunities, LLC ("Atlas") under the Investment Agreement entered into between Atlas and the Company in March 2023.

Atlas has, by a notice of conversion, requested conversion of convertible bonds with a nominal value of NOK 2,500,000 which, pursuant to the bond terms, are convertible into 4,146,166 new shares in the Company at a conversion price of NOK 0.60297.

The Company's share capital will accordingly be increased by NOK 2,487,699.60 by the issuance of 4,146,166 new shares upon completion of the conversion by registration of the share capital increase in the Norwegian Register of Business Enterprises (Nw.: Foretaksregisteret). Following the conversion, the Company's total share capital will be NOK 67,792,746.00 divided into 112,987,910 shares, each with a nominal value of NOK 0.60.

About Circio
Building circular RNA expression systems for enhanced gene and cell therapies

Circio Holding ASA is a biotechnology company developing powerful circular RNA vector expression technology for next generation nucleic acid medicine.

Circio has established a unique circular RNA (circRNA) vector expression technology for next generation RNA, DNA and viral therapeutics. The proprietary circVec platform is based on a modular genetic construct designed for efficient biogenesis of multifunctional circRNA inside target cells. The circVec platform has applications in multiple therapeutic settings, including genetic medicine, cell therapy and chronic disease. It has demonstrated 75-fold increased RNA half-life and up to 40-fold enhanced protein expression vs. conventional mRNA-based viral and non-viral vector systems, with the potential to become a new gold-standard gene expression technology. The circVec R&D activities are being conducted by the wholly owned subsidiary Circio AB in Stockholm, Sweden.

In parallel, Circio is continuing to develop its legacy immuno-oncology program, TG01, through cost-efficient external academic and industry collaborations. TG01 targets RAS-mutated cancers and is being tested in two clinical trials in Norway and the USA. TG01 is a therapeutic peptide vaccine adjuvanted by STIMULON QS-21 licensed from Agenus Inc.