(Alliance News) - Tenax International Spa reported Thursday that the third and final exercise period of the Tenax 2020-2023 warrants, which began on Nov. 8, came to an end.

During this period, 345,700 warrants were exercised and consequently subscribed for, at a price of EUR2.66 per compendium share and in the ratio of one share for every two warrants held, 172,850 ordinary shares for a total value of EUR459,781. The company's capital will thus consist of approximately 3.7 million ordinary shares.

The warrants exercised in the third and final exercise period are added to the 716,646 exercised during the first and second, bringing the total number of warrants exercised to 77 percent of the total outstanding.

The 315,994 warrants outstanding and not exercised by Nov. 23 are to be considered forfeited of all rights and Borsa Italiana will therefore order their revocation.

Tenax International's stock is flat at EUR2.72 per share.

By Chiara Bruschi, Alliance News reporter

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