On January 9, Sopharma published the announcement for start of its public offering of 3 warrant issues. The period for trading of the rights for acquiring of warrants would be from January 20 to February 2 with auction for the unused rights on February 6. Recall that Sopharma will issue up to 26 957 880 warrants at an issue price of BGN 0.27 (EUR 0.14) per warrant split in 3 issues with 8 985 960 warrants in each issue. Each existing share would be granted 1 right for subscription of each issue and 60 rights would be required for subscription of 1 warrant. The warrants will have terms of three, five, and seven years, with respective strike prices of BGN 3.60 (EUR 1.84), BGN 4.56 (EUR 2.33), and BGN 5.70 (EUR 2.91) per share. The offerings will be considered successful if at least 1 797 192 warrants from each issue are subscribed and paid. Note that the current number of issued shares amounts to 539 157 603, meaning that if all warrants are subscribed and subsequently exercised, the capital of the company could increase by 5%. The last closing price of Sopharma is EUR 1.785 (BGN 3.49) per share.