EQS-Adhoc

European Healthcare Acquisition & Growth Company B.V. and Croma-Pharma GmbH, agree on adjusted enterprise value of Croma, and Sponsors waive 20% sponsor shares and devalue 20% sponsor warrants

EQS-Ad-hoc: European Healthcare Acquisition & Growth Company B.V. / Key word(s): Miscellaneous European Healthcare Acquisition & Growth Company B.V. and Croma-Pharma GmbH, agree on adjusted enterprise value of Croma, and Sponsors waive 20% sponsor shares and devalue 20% sponsor warrants   16-May-2023 / 00:45 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. NOT FOR DISTRIBUTION, PUBLICATION OR FORWARDING, EITHER DIRECTLY OR INDIRECTLY, IN OR TO THE UNITED STATES OF AMERICA, CANADA, AUSTRALIA, JAPAN OR ANY OTHER JURISDICTION IN WHICH SUCH DISTRIBUTION OR PUBLICATION WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE THE IMPORTANT NOTICE AT THE END OF THIS PUBLICATION.

 

Public disclosure of inside information according to Article 17 para. 1 of the Regulation (EU) No 596/2014 on market abuse (Market Abuse Regulation)

 

European Healthcare Acquisition & Growth Company B.V. and Croma-Pharma GmbH, agree on adjusted enterprise value of Croma, and Sponsors waive 20% sponsor shares and devalue 20% sponsor warrants

 

• European Healthcare Acquisition & Growth Company B.V. (EHC), Croma-Pharma GmbH (Croma) and the shareholders of Croma agree on even more attractive terms for current shareholders and potential new investors ahead of de-SPAC transaction with an adjusted enterprise value of Croma of €712.5 million compared to €850 million announced in December 2022, thereby incentivizing shareholders in a volatile market and interest rate environment

 

• Sponsors of EHC (Sponsors) agree to transfer 20% of their class B ordinary shares (Sponsor Shares) to EHC for cancellation and will devalue 20% of their class B warrants (Sponsor Warrants)

 

• Shareholders of EHC will be invited to EHC’s AGM shortly to vote on the approval of the business combination with Croma

 

Munich, 15 May 2023

 

European Healthcare Acquisition & Growth Company (EHC), Croma-Pharma GmbH (Croma) and the shareholders of Croma (Croma Shareholders) today entered into an amendment agreement to the business combination agreement, dated December 22, 2022. The amended terms include an adjusted enterprise value of Croma of €712.5 million compared to €850 million as announced in December 2022. In connection with the valuation adjustment, the Sponsors will transfer 20% of their Sponsor Shares (i.e., 1,333,332 Sponsor Shares) to EHC for cancellation and agree to increase the exercise price from €11.50 to €400.00 for 20% of their Sponsor Warrants (i.e., 1,353,600 Sponsor Warrants) resulting in a devaluation.