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Arctic Bioscience AS ( (DE:9TD) ) has issued an update.
Arctic Bioscience has announced that an investor from the consortium involved in their NOK 15 million convertible loan has opted to convert their debt into shares, amounting to NOK 270,365. This conversion, including accrued interest, is set at a price of NOK 2.7896 per share, resulting in a total of 26,956,257 shares outstanding post-capital increase. This move reflects the company’s strategic financial management and could potentially enhance its market position by increasing shareholder equity.
More about Arctic Bioscience AS
Arctic Bioscience is a biotech company that develops and commercializes pharmaceutical and nutraceutical products derived from unique bioactive marine compounds. The company is working on HRO350, an innovative oral drug candidate aimed at treating mild-to-moderate psoriasis, addressing a significant need for effective and safe treatments in this patient group. Additionally, Arctic Bioscience’s nutraceuticals are marketed globally, both as bulk ingredients and finished goods under the ROMEGA® brand.
Average Trading Volume: 30,036
Current Market Cap: NOK103.9M
Find detailed analytics on 9TD stock on TipRanks’ Stock Analysis page.