myFC has been granted approximately 4.5 million SEK of EU funding for the further development of components for their new product line, JAQ - the world's smallest fuel cell charger. myFC also announces that the warrant program that was implemented in December 2014, will have 71.5 percent of the warrants exercised, reinforcing the company's financial position.
The EU grant of 4.5 million SEK gives myFC additional opportunities to accelerate the development of the new product line, JAQ. The company will thus industrialize charging technology to reduce material and production costs of the existing solutions.
myFC’s warrant program (issued in December 2014) has through conversions, financed the company with more than 2.5 million SEK during the fourth quarter of 2015. A total of 71.5 percent of the warrants have been exercised and the company has so far received 23 million SEK through the stock option plan.
After the above mentioned stock options have been exercised, approximately 4.6 million additional options are exercisable until 16 December 2016. This corresponds to approximately 9 million SEK.
The total number of shares after the exercise of warrants as of 2016-01-12 amounts to circa 22.1 million shares.
For more information on the stock option: http://www.nasdaqomxnordic.com/aktier/microsite?Instrument=SSE105322&name=myFC%20Holding%20AB%20TO1
For further questions, please contact:
Björn Westerholm, CEO
Telephone: +46 (0) 706 56 20 07