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Galapagos Raises $430K through Warrants Exercise

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Belgian drug discovery company Galapagos today announced it increased its shares capital by about €350,000 ($430,000) through the exercise of employee warrants.

The firm issued 40,160 new ordinary shares today for an average of €8.71 per share. Following today's capital increase, the company has a share capital of more than €129 million with a total of almost 24 million shares outstanding.

Galapagos uses warrant plans to "incentivize personnel and management and have them share in the success of the company," it said in a statement. The company added that no board members or executive members exercised warrants in the round.

The company also announced that it has received a transparency notification indicating that an individual identified as A. Strating, as well as companies TWE Beheer, TWE Investment, and Gestion Deelnemingen V combined hold nearly 1.3 million shares, or 5.25 percent of Galapagos' shares.

Gestion previously notified Galapagos that it held almost 1.2 million shares, or 5.02 percent of the company's shares.

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