iX Biopharma (SGX:42C
) announced that it has allotted and issued 10 million new ordinary shares at a price of six cents per warrant share as part of its exercise of warrants.
Following the exercise, the number of issued shares in iX Biopharma increased from 1,038,324,529 shares to 1,048,324,529 shares.
The 10 million new ordinary shares are allotted to Eddy Lee Yip Hang, who is the executive chairman and CEO of iX Biopharma.
The new ordinary shares rank pari passu in all respects with the existing shares of the company and are expected to be listed and quoted on the SGX on or around April 10.
There are 39,944,395 outstanding warrants with an exercise price of six cents per share for each warrant share expiring on July 18.
Shares in iX Biopharma closed flat at 21 cents on April 8. For the past one year, the company’s share price saw a gain of more than 1,000%.
