Circio has called for an extraordinary general meeting (EGM) to be held on 12 January 2026 to approve the proposed 88% secured rights issue of up to NOK 50 million (the Rights Issue) as announced on 8 December 2025.
The EGM will be held on Monday 12 January 2026 at 10:00 hours (CET) in Circio´s offices at Tordenskiolds gate 2 (c/o Mesh), 0160 Oslo, Norway.
The notice and agenda of the EGM can be accessed here: EGM notice
Link to access EGM digital voting
The Rights Issue will be priced at NOK 1.00 per share and has strong support from Circio´s main shareholders, who have presubscribed for NOK 24.2 million (48.4%) of the Rights Issue. An additional underwriting commitment of NOK 20 million (40%) brings the total secured transaction level to 88.4% of the NOK 50 million. The Rights Issue is expected to provide Circio with the necessary capital to fund its operations for approximately twelve months. This will enable Circio to deliver on several important pre-clinical circVec platform milestones and business development activities, including the recently announced feasibility study with a major global pharma company. The additional 1:1 warrant coverage per share subscribed in the Rights Issue will provide Circio with an opportunity to raise additional funds in June 2026, which is anticipated to prolong the cash runway well into 2027.
To carry out the Rights Issue, the board of directors has proposed that the EGM resolves several matters relating to the Rights Issue, including:
- share capital increases,
- issuance of warrants,
- issuance of shares and warrants to the pre-subscribers and potentially to the underwriter in the Rights Issue to settle the commission, and
- to ensure that the Pre-subscribers are allocated offer shares and warrants for their full pre-subscription amount in the Rights Issue, the board of directors proposes a private placement to increase the Company’s share capital by issuing new shares to the pre-subscribers and warrants to the extent that the pre-subscribers are not allocated offer shares for their full pre-subscription amount.
In addition, the board of directors proposes that the EGM renews the authorization to increase the Company’s share capital by 40%, which is important to be able to take advantage of the opportunity to complete equity issues when market conditions are considered attractive.
Also, the board of directors proposes that the EGM renews the authorization to increase the Company’s share capital in connection with share incentive option program, which is an important element in the recruitment and retention of key employees.