Zealand Pharma A/S (NASDAQ: ZEAL) increased its share capital by DKK 53,183 through the exercise of employee warrants, the Danish biotechnology company announced June 8.

The capital increase resulted from employees exercising 53,183 warrants under the company's employee warrant programs. Zealand Pharma received total proceeds of DKK 10,658,111.70 from the warrant exercises.

The exercise involved two different warrant tranches with varying prices. Employees exercised 7,351 warrants at DKK 90.70 per share and 45,832 warrants at DKK 218 per share.

Each warrant granted employees the right to subscribe for one newly issued Zealand Pharma share at predetermined exercise prices within specific time periods. The warrant programs form part of Zealand Pharma's employee incentive scheme.

The new shares carry voting rights and dividend entitlements from the time of each warrant holder's exercise notice. Zealand Pharma maintains only one class of shares, with each share carrying one vote at general meetings.

Following registration with the Danish Business Authority, Zealand Pharma's share capital will total DKK 71,578,758, divided into 71,578,758 shares with a nominal value of DKK 1 each. The new shares will be admitted for trading on Nasdaq Copenhagen after the capital increase registration is completed.

Zealand Pharma focuses on developing medicines for obesity and metabolic health. The company, founded in 1998 and headquartered in Copenhagen, maintains a U.S. presence in Boston, Massachusetts.