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Microbix Receives $2.4 Million from Exercise of Warrants
MBXMBX Biosciences, Inc.(MBX) GlobeNewswire·2025-02-04 12:00

Core Viewpoint - Microbix Biosystems Inc. has raised C2.4millionthroughthepartialexerciseofexpiringsharepurchasewarrants,whichwillbeutilizedtoenhanceproductdevelopment,manufacturingcapacity,andoperationalefficiency[1][3].Group1:CapitalRaiseandWarrantDetails−ThecompanyreceivedC 2.4 million through the partial exercise of expiring share purchase warrants, which will be utilized to enhance product development, manufacturing capacity, and operational efficiency [1][3]. Group 1: Capital Raise and Warrant Details - The company received C 2.4 million from the exercise of 6,703,314 out of 8,881,564 remaining 2020 Warrants, representing 75.5% of the unexercised warrants [2][4]. - The 2020 Warrants were originally issued in January 2020 at an exercise price of C0.36withafive−yearterm[2].Group2:UseofProceeds−Theadditionalcapitalwillbedirectedtowardsbroadeningproductdevelopmentcapabilities,expandingmanufacturingcapacity,andimprovingoperationalefficiency[3].−Aportionofthefundsmayalsobeallocatedtodebtreductionorsharerepurchasesunderthecompany′sNormal−CourseIssuerBid[3].Group3:FinancialPosition−Followingthewarrantexercises,Microbixhasacurrentratioofover7.0timesandadebt−to−equityratioofapproximately0.30,indicatingstrongfinancialhealth[5].−Thecompany′scashandequivalentsbalanceexceedsC 0.36 with a five-year term [2]. Group 2: Use of Proceeds - The additional capital will be directed towards broadening product development capabilities, expanding manufacturing capacity, and improving operational efficiency [3]. - A portion of the funds may also be allocated to debt reduction or share repurchases under the company's Normal-Course Issuer Bid [3]. Group 3: Financial Position - Following the warrant exercises, Microbix has a current ratio of over 7.0 times and a debt-to-equity ratio of approximately 0.30, indicating strong financial health [5]. - The company's cash and equivalents balance exceeds C 15 million after the warrant exercises [4]. Group 4: Company Overview - Microbix Biosystems specializes in creating proprietary biological products for human health, targeting sales of C$ 2.0 million or more per month [6]. - The company manufactures critical ingredients for the global diagnostics industry, including antigens for immunoassays and laboratory quality assessment products (QAPs™) [6]. - Microbix is ISO 9001 & 13485 accredited and registered with U.S. FDA, Australian TGA, and Health Canada, ensuring compliance with international standards [6][7].