Eurofins Announces the Issuance of 126,460 Warrants Subscribed by 100 of the Group’s Top Leaders
Eurofins Scientific (Paris:ERF) (EUFI.PA), a global leader in bioanalytical testing, announces that it has issued 126,460 new warrants to ca. 100 of its leaders at a purchase price of EUR 34.36 per warrant. The warrants are not publicly listed but each warrant gives its holder the right to subscribe to or purchase one Eurofins share at the exercise price of EUR 529.65 between June 1st 2022 and May 31st 2026. The company also has the right to force the exercise of the warrants should its share price reach EUR 953.37 (180% of the exercise price) during this period.
This warrants issue will have very limited potential impact on shareholder dilution, given that the number of warrants issued represents a maximum of 0.7% of the current number of outstanding shares.
This new warrants program will bring EUR 4.3m of proceeds to the company and has been subscribed by ca. 100 key leaders of the Eurofins Group highlighting the long-term commitment of the company’s management team and the trust of its leaders in the growth potential of the Group, its ability to reach its mid-term objectives and continue its rapid profitable growth beyond 2020.
Comment from Dr. Gilles Martin, Eurofins CEO: “This new warrants program, which will have very limited dilution effects for our existing shareholders, serves as a valuable instrument to enable our top leaders to participate in the value creation that Eurofins may achieve in the years to come, and to align the company’s and its shareholders’ long-term interests and that of its key leaders.”
Notes for the editor:
Eurofins – a global leader in bio-analysis
Eurofins Scientific through its subsidiaries (hereinafter sometimes “Eurofins” or “the Group”) believes it is a scientific leader in food, environment and pharmaceutical products testing and in agroscience CRO services. It is also one of the independent market leaders in certain testing and laboratory services for genomics, discovery pharmacology, forensics, CDMO, advanced material sciences and for supporting clinical studies. In addition, Eurofins is one of the emerging players in specialty clinical diagnostic testing in Europe and the USA. With over 35,000 staff in more than 400 laboratories across 44 countries, Eurofins offers a portfolio of over 150,000 analytical methods for evaluating the safety, identity, composition, authenticity, origin and purity of biological substances and products, as well as for innovative clinical diagnostic. The Group objective is to provide its customers with high-quality services, accurate results on time and expert advice by its highly qualified staff.
Eurofins is committed to pursuing its dynamic growth strategy by expanding both its technology portfolio and its geographic reach. Through R&D and acquisitions, the Group draws on the latest developments in the field of biotechnology and analytical chemistry to offer its clients unique analytical solutions and the most comprehensive range of testing methods.
As one of the most innovative and quality oriented international players in its industry, Eurofins is ideally positioned to support its clients’ increasingly stringent quality and safety standards and the expanding demands of regulatory authorities around the world.
The shares of Eurofins Scientific are listed on the Euronext Paris Stock Exchange (ISIN FR0000038259, Reuters EUFI.PA, Bloomberg ERF FP).
This press release contains forward-looking statements and estimates that involve risks and uncertainties. The forward-looking statements and estimates contained herein represent the judgment of Eurofins Scientific’s management as of the date of this release. These forward-looking statements are not guarantees for future performance, and the forward-looking events discussed in this release may not occur. Eurofins Scientific disclaims any intent or obligation to update any of these forward-looking statements and estimates. All statements and estimates are made based on the information available to the Company’s management as of the date of publication, but no guarantee can be made as to their validity.