checkAd

     149  0 Kommentare Biophytis Extends Its Contract With Atlas to Secure Financing for Its Business Activities

    Important note: Biophytis has set up financing in the form of Bonds redeemable in cash and in new and existing shares (ORNANE) with the company Atlas, which, after having received the shares resulting from the conversion or exercise of these …

    Important note: Biophytis has set up financing in the form of Bonds redeemable in cash and in new and existing shares (ORNANE) with the company Atlas, which, after having received the shares resulting from the conversion or exercise of these instruments, is not intended to remain a shareholder of the company. The shares resulting from the conversion of the above-mentioned securities will, in general, be sold on the market very quickly, which may create downward pressure on the share price. Shareholders may suffer a loss of their invested capital due to a significant decrease in the value of the company's stock, as well as significant dilution due to the large number of securities issued to the benefit of the Atlas company. Investors are advised to be vigilant before making the decision to invest in the securities of the company admitted to trading which carries out such dilutive financing transactions, particularly when they are carried out successively. Investors are particularly invited to take note of the risks relating to these operations, mentioned in the press release below.

    PARIS, FRANCE AND CAMBRIDGE, MA / ACCESSWIRE / June 19, 2024 / BiophytisSA (Euronext Growth Paris:ALBPS), ("Biophytis" or the "Company"), a clinical-stage biotechnology company specialized in the development of therapeutics for age-related diseases, announces the extension of its bond financing agreement with Atlas, a specialized investment fund based in New York (USA), in order to secure financing for its business activities, in particular the launch of its clinical programs OBA in obesity and MYODA in Duchenne Muscular Dystrophy (DMD).

    This two-year amendment, expiring on 14 June 2026, will allow Biophytis to issue convertible bonds for a maximum amount of €16 million, in tranches of up to €2 million each. The extension of this financing facility and the terms of the renewal agreement reflect Atlas‘ confidence in Biophytis' growth potential. To limit the potentially dilutive impact of the financing, the issue of a new tranche will only be possible if the outstanding bond debt held by Atlas at the time of the drawdown is no more than €2 million. The current outstanding amount is €3 million. Given the characteristics of the contract amendment, this financing facility could extend the Company's cash runway, currently estimated at the end of August 2024, to the end of 2024 and contribute to the financing of R&D programs in 2025.

    Seite 1 von 5




    Accesswire
    0 Follower
    Autor folgen
    Mehr anzeigen
    We’re a newswire service standout and fast becoming an industry disruptor. We provide regional, national and global news to thousands of clients around the world. We’re also leading the way in social engagement, targeting and analytics.
    Mehr anzeigen
    Verfasst von Accesswire
    Biophytis Extends Its Contract With Atlas to Secure Financing for Its Business Activities Important note: Biophytis has set up financing in the form of Bonds redeemable in cash and in new and existing shares (ORNANE) with the company Atlas, which, after having received the shares resulting from the conversion or exercise of these …