Press news Biocartis Group NV

Biocartis Announces the Conversion of EUR 15 million of its EUR 150 million 4% Convertible Bonds due 2024

PRESS RELEASE: REGULATED INFORMATION – INSIDE INFORMATION

7 December 2020, 07:00 CET

Biocartis Announces the Conversion of EUR 15 million of its EUR 150 million 4% Convertible Bonds due 2024

Mechelen, Belgium, 7 December 2020 – Biocartis Group NV (the ‘Company’ or ‘Biocartis’), an innovative molecular diagnostics company (Euronext Brussels: BCART), announces today that it entered into an agreement with a holder of its outstanding EUR 150 million 4% Senior Unsecured Convertible Bonds due 2024 (the ‘Bonds’) regarding the exercise of Conversion Rights in relation to EUR 15 million aggregate principal amount of Bonds.

In connection with the conversion, the Company agreed to make a cash payment equal to EUR 28,700 per EUR 100,000 in principal amount of the Bonds plus any accrued but unpaid interest. The current Conversion Price of the Bonds is EUR 12.8913 per Ordinary Share. As a result, an aggregate principal amount of EUR 15 million of the Bonds will be converted, and 1,163,575 new Ordinary Shares will be issued by the Company.

The Company agreed to the incentivised conversion of the Bonds, as it will allow the Company to reduce the reported debt at attractive market conditions and strengthen the Company’s shareholders’ equity at a premium to the current share price. The amount of the debt reduction in exchange for the new Ordinary Shares amounts to EUR 9.3 million or EUR 8 per share, 70% higher than the closing price on 4 December 2020. The total debt reduction amounts to EUR 13.6 million.

For further information on the incentivised conversion, Bondholders can contact the Company.

Capitalised terms and expressions used in this press release, but not defined herein, shall have the meaning given to them in the terms and conditions of the Bonds (the ‘Conditions’), unless defined otherwise in this press release.

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More information:
Renate Degrave
Head of Corporate Communications & Investor Relations Biocartis
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About Biocartis

Biocartis (Euronext Brussels: BCART) is an innovative molecular diagnostics (MDx) company providing next generation diagnostic solutions aimed at improving clinical practice for the benefit of patients, clinicians, payers and industry. Biocartis' proprietary MDx Idylla platform is a fully automated sample-to-result, real-time PCR (Polymerase Chain Reaction) system that offers accurate, highly reliable molecular information from virtually any biological sample in virtually any setting. Biocartis is developing and marketing a continuously expanding test menu addressing key unmet clinical needs, with a focus in oncology, which represents the fastest growing segment of the MDx market worldwide. Today, Biocartis offers tests supporting melanoma, colorectal and lung cancer, as well as for SARS-CoV-2 and sepsis. More information: www.biocartis.com. Follow us on Twitter: @Biocartis_.