Final Result of Tender Offer for Shares of Veloxis Pharmaceuticals A/S

January 17, 2020
Asahi Kasei Corp.

Asahi Kasei Corp. (Head office: Chiyoda-ku, Tokyo; President: Hideki Kobori; hereinafter “Asahi Kasei”) has completed a tender offer for the shares and warrants in Veloxis Pharmaceuticals A/S (Head office: Copenhagen, Denmark; CEO: Craig A. Collard; listed on Nasdaq Copenhagen; hereinafter “Veloxis DK”), which owns 100% of Veloxis Pharmaceuticals Inc. (Head office: North Carolina, the U.S.; CEO: Craig A. Collard), by its wholly owned subsidiary, Asahi Kasei Pharma Denmark A/S (the “Tender Offer”). The Tender Offer opened for tenders on December 12, 2019, and expired on January 14, 2020, at 5:00 p.m. (CET).

Asahi Kasei hereby confirms the final number of shares that were tendered in the Tender Offer as follows.

1.Final Result of the Tender Offer

  1. (1)Number of shares tendered and accepted: 1,715,126,460 shares
  2. (2)Number of shares tendered and accepted as percentage of the total share capital and voting rights on a fully-diluted basis: 88.53%
    (Note: The total share capital and voting rights on a fully-diluted basis incudes Veloxis DK’s outstanding shares as well as all outstanding warrants assuming that they are all converted into shares).

In addition to the tendered shares and warrants, Asahi Kasei owns 37,828,149 shares which will be sold to Asahi Kasei Pharma Denmark A/S, whereby it will hold a total of 90.49% of the total share capital and voting rights on a fully-diluted basis. The price that Asahi Kasei paid for Veloxis DK’s shares has not exceeded the Offer Price of DKK 6.00 per share.