Veloxis Increases Share Capital in Connection with Asahi Kasei Pharma Denmark's Exercise of Warrants Acquired under the Public Tender Offer

Veloxis Increases Share Capital in Connection with Asahi Kasei Pharma Denmark's Exercise of Warrants Acquired under the Public Tender Offer

On 17 January 2020, Asahi Kasei Pharma Denmark A/S ("Asahi Kasei Pharma Denmark") announced the final result of the recommended conditional voluntary public offer (the "Offer") to purchase all of the issued and outstanding shares and warrants in Veloxis Pharmaceuticals A/S (OMX: VELO) ("Veloxis"), please refer to Company Release no. 6/2020. The final result, showed that Asahi Kasei Pharma Denmark had received acceptances from warrantholders in Veloxis, holding in total 197,492,954 warrants, corresponding to all warrants issued by Veloxis. Asahi Kasei Pharma Denmark has informed Veloxis that it wishes to exercise 103,500,000 of the warrants acquired under the Offer.

On this behalf, Veloxis announces that the company's capital has been increased by 103,500,000 new shares with a nominal value of DKK 0.10 each, corresponding to an increase of the share capital with nominally DKK 10,350,000.

The shares are subscribed in cash at the following price per share of nominally DKK 0.10:

50,000 shares at DKK 0.58
456,867 shares at DKK 0.95
100,000 shares at DKK 1.19
1,577,799 shares at DKK 0.94
3,561,069 shares at DKK 0.86
310,000 shares at DKK 1.06
15,936,689 shares at DKK 1.43
2,680,000 shares at DKK 1.24
3,947,000 shares at DKK 1.32
2,802,293 shares at DKK 1.09
738,613 shares at DKK 1.12
28,819,474 shares at DKK 1.07
12,332,435 shares at DKK 0.86
14,000,000 shares at DKK 0.84
13,237,761 shares at DKK 1.01
2,950,000 shares at DKK 0.91

Proceeds to Veloxis amount to DKK 109,918,095.14.

Each share of nominally DKK 0.10 carries one vote at general meetings in Veloxis.

The new shares will be listed on Nasdaq Copenhagen following registration of the capital increase with the Danish Business Authority. The new shares give rights to dividend and other rights from the time of registration of the capital increase with the Danish Business Authority.

Pursuant to Section 32 of Consolidated Act no. 931 of 6 September 2019 the Danish Capital Markets Act, as amended, Veloxis hereby announces that the total nominal value of Veloxis' share capital after the capital increase is DKK 184,324,159.00, which is made up of 1,843,241,590 shares of a nominal value of DKK 0.10, each carrying one vote, corresponding to 1,843,241,590 votes.

For more information, please contact:

Craig A. Collard             Ira Duarte                               
CEO                              CFO     

Phone:                         +1 919-591-3090       
Email:                          IR@Veloxis.com

This announcement has been prepared both in English and Danish. In the event of any discrepancies between the English and Danish version, the English version shall prevail.

About Veloxis

Veloxis is a commercial-stage specialty pharmaceutical company committed to improving the lives of transplant patients. A Danish company, Veloxis operates in the U.S. through Veloxis Pharmaceuticals Inc., a wholly-owned subsidiary headquartered in Cary, North Carolina, USA. Veloxis has successfully developed Envarsus XR (tacrolimus extended-release tablets) based upon the company's unique and patented delivery technology, MeltDose®, which is designed to enhance the absorption and bioavailability of select orally administered drugs. The company is focused on the direct commercialization of Envarsus XR in the U.S., expansion of partnerships for markets around the world, and acquisition of assets utilized in transplant patients and by adjacent medical specialties. Veloxis is listed on the NASDAQ OMX Copenhagen under the trading symbol OMX: VELO. For further information, please visit www.veloxis.com.

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