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Bavarian Nordic Declares Subscription Price And Number Of Shares To Be Issued To JJDC Under License And Collaboration Agreement

Bavarian Nordic A/S (CPH:BAVA)(OTC:BVNRY) on Wednesday announced the subscription price and the number of new shares to be issued to Johnson & Johnson Innovation - JJDC Inc (JJDC) in connection with the license and collaboration agreement entered into on 27 July 2017 with Janssen Pharmaceuticals Inc, a part of the Janssen Pharmaceutical Companies of Johnson & Johnson.

According to the company, the subscription price is DKK405.1578 per share of DKK10 and has been calculated based on the simple average of the volume weighted average price of the company's shares on Nasdaq Copenhagen during a period of ten consecutive trading days starting on 27 July 2017 and ending on 9 August 2017.

Under the subscription agreement entered into on 27 July 2017 between JJDC and Bavarian Nordic, JJDC will subscribe for Bavarian Nordic shares for USD33,000,000, corresponding to DKK207,482,135.

Consequently, Bavarian Nordic will issue 512,102 new shares of DKK10 each (equal to approximately 1.63% of existing share capital of the company) at a price of DKK405.1578 per share.

These new shares will be issued upon closing of the transaction with Janssen which is awaiting clearance under the Hart-Scott-Rodino (HSR) Antitrust Improvements Act.

Bavarian Nordic is a fully integrated biotechnology company focused on the development, manufacturing and commercialisation of cancer immunotherapies and vaccines for infectious diseases, based on the company's live virus vaccine platform.
https://www.barchart.com/stocks/quotes/JNJ#/news/3740382/bavarian-nordic-declares-subscription-price-and-number-of-shares-to-be-issued-to-jjdc-under-license-and-collaboration-agreement