Mauna Kea Technologies Announces the Exercise of a Tranche of €5 Million Debt With IPF Partners
Mauna Kea Technologies (Paris:MKEA) (OTCQX:MKEAY) (Euronext: MKEA,) inventor of Cellvizio, the multidisciplinary probe-based and needle-based confocal laser endomicroscopy (pCLE/nCLE) platform, today announced the exercise of a tranche of €5 million with IPF Partners, as part of the amendment of the Debt Subscription Agreement signed on November 13, 2018.
On February 8, 2017, Mauna Kea Technologies announced the Debt Subscription Agreement with IPF Partners for an aggregate of €7 million, comprised of two tranches. The first tranche of €4 million was exercised in February 2017. The second tranche of €3 million was not exercised.
The Debt Subscription Agreement was amended on November 13, 2018, to include two additional tranches of bonds, with a first tranche of €5 million, available until May 2019 and another tranche of €5 million available until September 2019, both tranches being subject to preset closing conditions. The bonds bear interest at an annual rate equal to the 3-month EURIBOR +8.0%. The first tranche of bonds which is now exercised has a 5-year maturity, with interest-only payments for the first 15 months.
About Mauna Kea Technologies
Mauna Kea Technologies is a global medical device company focused on eliminating uncertainties related to the diagnosis and treatment of cancer and other diseases thanks to real time in vivo microscopic visualization. The Company’s flagship product, Cellvizio, has received clearance/approval in a wide range of applications in more than 40 countries, including the United States, Europe, Japan, China, Canada, Brazil and Mexico. For more information on Mauna Kea Technologies, visit www.maunakeatech.com
This press release contains forward-looking statements concerning Mauna Kea Technologies and its activities. Such forward looking statements are based on assumptions that Mauna Kea Technologies considers to be reasonable. However, there can be no assurance that the anticipated events contained in such forward-looking statements will occur. Forward- looking statements are subject to numerous risks and uncertainties including the risks set forth in the registration document of Mauna Kea Technologies registered by the French Financial Markets Authority (Autorité des marchés financiers (AMF)) on April 27, 2018 under number R.18-0429 and available on the Company's website (www.maunakeatech.com), and to the development of economic situation, financial markets, and the markets in which Mauna Kea Technologies operates. The forward-looking statements contained in this release are also subject to risks unknown to Mauna Kea Technologies or that Mauna Kea Technologies does not consider material at this time. The realization of all or part of these risks could lead to actual results, financial conditions, performances or achievements by Mauna Kea Technologies that differ significantly from the results, financial conditions, performances or achievements expressed in such forward-looking statements. This press release and the information it contains do not constitute an offer to sell or to subscribe for, or a solicitation of an order to purchase or subscribe for, Mauna Kea Technologies shares in any country.