Genmab Boosts Capital Through Employee Warrant Exercise

Author: Riley Hayes Updated: 09-10-2024 04:15 PM

Significant Share Capital Increase by Genmab

Company Announcement

Genmab A/S (Nasdaq: GMAB) has recently announced a strategic increase in its share capital by 11,729 shares, a direct result of the exercise of employee warrants. This decision demonstrates the company’s ongoing commitment to involve its workforce in its achievements and foster a culture of equity ownership among its employees.

Details of the Capital Increase

The new shares will be issued without preemption rights, meaning existing shareholders will not have the opportunity to purchase these shares before they are issued. This capital increase has been done through cash subscriptions at various prices, highlighting the strong interest from the workforce in Genmab's future prospects. Here’s a breakdown of the shares and their respective subscription prices:

- 4,623 shares at DKK 1,025.00
- 3,656 shares at DKK 1,032.00
- 561 shares at DKK 1,050.00
- 1,645 shares at DKK 1,334.50
- 1,015 shares at DKK 1,432.00
- 229 shares at DKK 1,615.00

The total proceeds from this exercise amount to approximately DKK 13.1 million, reflecting a strong vote of confidence from the employees in Genmab’s innovative pipeline and corporate vision. After this increase, Genmab’s total share capital will amount to DKK 66,176,831, consisting of 66,176,831 ordinary shares, thus ensuring equal voting rights across its shareholder base.

Implications for Shareholders and Company Growth

The newly issued shares represent about 0.02% of Genmab’s total share capital. By allowing employee participation through warrant exercises, Genmab is positioning itself to enhance shareholder value while gearing up for future innovations in biopharmaceuticals. The new shares will confer the same rights as existing ordinary shares, such as dividends and voting rights, and are set to be listed on Nasdaq Copenhagen post-registration with the Danish Business Authority.

About Genmab and Its Mission

Founded in 1999, Genmab has established itself as a leader in the biotechnology sector, focusing on developing groundbreaking antibody therapeutics. The company is committed to improving patient outcomes with innovative therapies that go beyond standard treatment options. With a diverse pipeline that includes bispecific T-cell engagers and immune checkpoint modulators, Genmab's vision for 2030 encompasses transformative advancements in cancer care and other critical diseases, helping to deliver what they describe as 'knock-your-socks-off' (KYSO®) antibody medicines.

Headquartered in Copenhagen, with a significant presence in North America, Europe, and the Asia Pacific, Genmab continues to drive forward in its mission. For more comprehensive information about their latest developments, visit Genmab.com.

Contact Information:

Marisol Peron, Senior Vice President, Global Communications & Corporate Affairs
T: +1 609 524 0065; E: mmp@genmab.com

Andrew Carlsen, Vice President, Head of Investor Relations
T: +45 3377 9558; E: acn@genmab.com

Frequently Asked Questions

What prompted Genmab to increase its share capital?

The increase is a result of employee warrant exercises, reflecting confidence in the company’s future.

How much has Genmab raised through this capital increase?

Genmab has raised approximately DKK 13.1 million through the exercise of the warrants.

What does this capital increase mean for current shareholders?

Current shareholders will not have preemption rights, but they will benefit from the potential growth resulting from the additional capital.

What is the significance of the new shares issued?

The new shares represent about 0.02% of Genmab's total share capital and will provide their holders with full rights akin to existing shares.

What is Genmab's future vision?

By 2030, Genmab aims to significantly enhance the treatment landscape for patients with cancer and serious diseases with innovative antibody therapeutics.

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