Circio adjusts equity incentives to offset dilution from NOK 50 million rights issue

Targovax ASA ( (GB:0RIS) ) has shared an update.

Circio Holding ASA, a biotechnology company developing circular RNA expression systems for advanced gene and cell therapies, has built its circVec platform to improve durability and potency of RNA, DNA and viral therapeutics. The technology, developed by subsidiary Circio AB in Stockholm, targets multiple therapeutic areas and aims to set a new standard in gene expression performance.

The company has adjusted its restricted share units and share options to neutralize the dilutive effect of its recent NOK 50 million rights issue. Board members received a total of 3,069 additional RSUs, while the exercise price of 3,704,152 outstanding options was reduced by NOK 0.0581 per option, leaving the number of options unchanged and ensuring incentive holders are neither advantaged nor disadvantaged by the capital raise.

Options granted to employees after completion of the rights issue remain unaffected, preserving the original terms of newer equity awards. The adjustments align with market practice and regulatory requirements, underlining Circio’s effort to maintain fair and predictable compensation structures for key employees and directors following its latest financing.

More about Targovax ASA

Circio Holding ASA is a biotechnology company focused on developing novel circular RNA expression technology for gene and cell therapies. Its proprietary circVec platform is designed for efficient production of multifunctional circular RNA inside target cells, aiming to deliver longer RNA half-life and significantly enhanced protein expression compared with conventional mRNA-based vector systems, with applications across genetic medicine, cell therapy and chronic disease.

Average Trading Volume: 12,420,326

Current Market Cap: NOK2.38B

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