Galapagos raises €5.8 million through warrant exercises, Board and Executive Committee members invest
March 27 2015 - 2:30AM
Mechelen,
Belgium; 27 March 2015 - Galapagos NV (Euronext: GLPG)
announced today a share capital increase arising from warrant
exercises. Board members invest €2.1 million in Galapagos by
exercising warrants.
Since its inception in 1999,
Galapagos has used warrant plans to incentivize personnel and
management and have them share in the success of the company.
Following warrant exercises during the exercise period from
9 March 2015 through 22 March 2015, Galapagos
issued 571,548 new ordinary shares for a total capital increase
(including issuance premium) of €5,819,033.48.
CEO Onno van de Stolpe exercised
100,000 warrants to hold as shares. Onno van de Stolpe
currently holds 464,226 shares in Galapagos, representing 1.5% of
the outstanding Galapagos shares. The Chairman of the Board
of Directors, Dr Raj Parekh, exercised 75,000 warrants to hold as
shares. In addition, Board members Dr Werner Cautreels and Dr
Harrold van Barlingen exercised 2,520 warrants and 7,500 warrants,
respectively, also to hold as shares. Together, the CEO and
the other Board members invested €2.1 million in Galapagos by
exercising these warrants with an exercise price of €11.55 per
share. All of these warrants were due to expire on
26 April 2015.
Dr Piet Wigerinck and Dr Andre
Hoekema of the Executive Committee exercised an aggregate number of
5,000 warrants to hold as shares under the Galapagos' Executive
Committee warrant exercise program whereby members have made a
commitment to exercise a minimum number of warrants during
subsequent exercise periods, subject to certain conditions.
To date, Galapagos' total share
capital amounts to €166,996,209.57; the total number of securities
conferring voting rights is 30,870,677, which is also the total
number of voting rights (the "denominator"), and all securities
conferring voting rights and all voting rights are of the same
category. The total number of rights (warrants) to subscribe
to not yet issued securities conferring voting rights is 3,019,305,
which equals the total number of voting rights that may result from
the exercise of these warrants. Galapagos does not have any
convertible bonds or shares without voting rights outstanding.
About
Galapagos
Galapagos (Euronext: GLPG; OTC: GLPYY) is a clinical-stage
biotechnology company specialized in the discovery and development
of small molecule medicines with novel modes of action, with a
pipeline comprising three Phase 2 programs, two Phase 1 trials,
five pre-clinical studies, and 25 discovery small-molecule and
antibody programs in cystic fibrosis, inflammation, and other
indications. In the field of inflammation, AbbVie and
Galapagos signed a collaboration agreement for the development and
commercialization of filgotinib. Filgotinib is an
orally-available, selective inhibitor of JAK1 for the treatment of
rheumatoid arthritis and potentially other inflammatory diseases,
currently in Phase 2B studies in RA and in Phase 2 in Crohn's
disease. GLPG1205, a first-in-class inhibitor of GPR84, is
currently being tested in a Phase 2 proof-of-concept trial in
ulcerative colitis patients. GLPG1690, a first-in-class
inhibitor of autotaxin, has shown favorable safety in a Phase 1
trial and is expected to enter Phase 2 in idiopathic pulmonary
fibrosis. AbbVie and Galapagos also signed a collaboration
agreement in cystic fibrosis to develop and commercialize molecules
that address mutations in the CFTR gene. Potentiator GLPG1837
is currently in a Phase 1 trial, and corrector GLPG2222 is at the
pre-clinical candidate stage. The Galapagos Group, including
fee-for-service subsidiary Fidelta, has approximately 400
employees, operating from its Mechelen, Belgium headquarters and
facilities in The Netherlands, France, and Croatia. Further
information at: www.glpg.com
CONTACT
Galapagos NV
Elizabeth Goodwin, Head of Corporate Communications &
IR
Tel: +31 6 2291 6240
ir@glpg.com
Galapagos forward-looking
statements
This release may contain forward-looking
statements, including, without limitation, expectations regarding
the commercial potential of our product candidates generally, all
of which involve certain risks and uncertainties. These
statements are often, but are not always, made through the use of
words or phrases such as "believes," "anticipates," "expects,"
"intends," "plans," "seeks," "estimates," "may," "will," "could,"
"stands to," "continues," "we believe," "we intend," as well as
similar expressions. Such forward-looking statements may
involve known and unknown risks, uncertainties and other factors
which might cause the actual results, financial condition,
performance or achievements of Galapagos, or industry results, to
be materially different from any historic or future results,
financial conditions, performance or achievements expressed or
implied by such forward-looking statements. Among the factors
that may result in differences are the inherent uncertainties
associated with competitive developments, clinical trial and
product development activities, regulatory approval requirements
and estimating the commercial potential of our product
candidates. Given these uncertainties, the reader is advised
not to place any undue reliance on such forward-looking
statements. These forward-looking statements speak only as of
the date of publication of this document. Galapagos expressly
disclaims any obligation to update any such forward-looking
statements in this document to reflect any change in its
expectations with regard thereto or any change in events,
conditions or circumstances on which any such statement is based,
unless required by law or regulation.
This
announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: Galapagos NV via Globenewswire
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