Investor exercises rights to 4m Amryt warrants

Dublin-listed biopharmaceutical company Amryt Pharma has announced that an institutional investor has exercised subscription rights relating to four million zero-cost warrants.

The company, which focuses on developing treatments to help patients with rare and orphan diseases, said these warrants were issued in September as part of the company’s acquisition of Aegerion.

Some of Aegerion’s creditors elected to receive the warrants to subscribe for new ordinary shares instead of the same number of ordinary shares as consideration for the acquisition.

Each warrant entitles the holder to subscribe for one ordinary share for no additional consideration.

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In order to satisfy the exercise of the warrants, the company on Friday issued four million ordinary shares of 6p each to the institutional investor.

It is expected that admission to trading of the shares on AIM and Euronext Dublin will become effective, and that dealings in the shares will begin on July 15th.