Akers Biosciences, Inc. Warrant Amendment and Exercise (5975T)
October 13 2017 - 9:35AM
UK Regulatory
TIDMAKR
RNS Number : 5975T
Akers Biosciences, Inc.
13 October 2017
October 13, 2017
Akers Biosciences, Inc.
("Akers" or the "Company")
Warrant Amendment and Exercise
Akers Biosciences, Inc. (NASDAQ: AKER) (AIM: AKR.L), ("Akers
Bio" or the "Company"), a developer of rapid health information
technologies, announces it has revised the terms of the warrants
over 724,200 common shares of no par value in the Company ("Common
Shares") issued in relation to the placing of new common shares,
announced on 31 March 2017 (the "March 2017 Warrants"). The terms
of the March 2017 Warrants have been amended to a strike price of
$1.00 per share; otherwise all terms of these warrants remain
unchanged.
In addition, Akers has entered into an agreement with holders of
the March 2017 Warrants to exercise these warrants, which will
result in the purchase of 724,200 shares of Commons Shares, subject
to beneficial ownership limitations on exercise contained in the
March 2017 Warrants, by 13 December 2017.
The Company has received notification to exercise 387,000 of the
March 2017 Warrants, pursuant to the amended terms and the
agreement described above. The Company expects to receive $387,000
as a result of this exercise and as such, the Company will apply
for 387,000 new common shares of no par value to be admitted to
trading on AIM.
Admission of the 387,000 new Common Shares is expected to take
place on or around 20 October 2017. The new Common Shares will rank
pari passu with the existing Commons Shares.
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Following the issue of new
Common Shares detailed above the enlarged issued share capital of
the Company will consist of 9,288,245 common shares with no common
shares held in treasury. Therefore, the above figure of 9,288,245
may be used by shareholders as the denominator for the calculations
by which they will determine if they are required to notify their
interest in, or a change in their interest in, the Company under
the FCA's Disclosure and Transparency Rules.
About Akers Biosciences, Inc.
Akers Bio develops, manufactures, and supplies rapid screening
and testing products designed to deliver quicker and more
cost-effective healthcare information to healthcare providers and
consumers. The Company has advanced the science of diagnostics
while responding to major shifts in healthcare through the
development of several proprietary platform technologies. The
Company's state-of-the-art rapid diagnostic assays can be performed
virtually anywhere in minutes when time is of the essence. The
Company has aligned with major healthcare companies and high volume
medical product distributors to maximize product offerings, and to
be a major worldwide competitor in diagnostics.
Additional information on the Company and its products can be
found at www.akersbio.com. Follow us on Twitter @AkersBio.
Cautionary Statement Regarding Forward Looking Statements
Statements contained herein that are not based upon current or
historical fact are forward-looking in nature and constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933 and Section 21E of the Securities Exchange
Act of 1934. Such forward-looking statements reflect the Company's
expectations about its future operating results, performance and
opportunities that involve substantial risks and uncertainties.
These statements include but are not limited to statements
regarding the intended terms of the offering, closing of the
offering and use of any proceeds from the offering. When used
herein, the words "anticipate," "believe," "estimate," "upcoming,"
"plan," "target", "intend" and "expect" and similar expressions, as
they relate to Akers Biosciences, Inc., its subsidiaries, or its
management, are intended to identify such forward-looking
statements. These forward-looking statements are based on
information currently available to the Company and are subject to a
number of risks, uncertainties, and other factors that could cause
the Company's actual results, performance, prospects, and
opportunities to differ materially from those expressed in, or
implied by, these forward-looking statements.
For more information:
Akers Biosciences, Inc.
John J. Gormally, Chief Executive Officer
Raymond F. Akers, Jr. PhD, Chief Scientific Director
Tel. +1 856 848 8698
Taglich Brothers, Inc. (Investor Relations)
Chris Schreiber
Tel. +1 917 445 6207
Email: cs@taglichbrothers.com
finnCap (UK Nominated Adviser and Broker)
Adrian Hargrave / Scott Mathieson (Corporate Finance)
Steve Norcross (Broking)
Tel. +44 (0)20 7220 0500
Vigo Communications (Global Public Relations)
Ben Simons / Fiona Henson
Tel. +44 (0)20 7830 9704
Email: akers@vigocomms.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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October 13, 2017 09:35 ET (13:35 GMT)
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