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     117  0 Kommentare BioSenic signs a new subscription agreement for a maximum of EUR 2.1M in convertible bonds

    PRESS RELEASE – PRIVILEGED INFORMATION
      

    Mont-Saint-Guibert, Belgium, June 21, 2024 6.00pm CEST – BioSenic (Euronext Brussels and Paris: BIOS), the clinical stage company specializing in serious autoimmune and inflammatory diseases and cell repair, today announces that it has signed a new subscription agreement for a maximum EUR 2.1 million convertible bonds ("CBs") facility, arranged by ABO Securities through its affiliated entity Global Tech Opportunities 15 ("GTO 15").

    GTO 15 has committed to subscribe for up to EUR 2.1 million in CBs (subject to certain conditions precedent set forth in the CB facility). The CBs will be issued and subscribed for in a maximum of seven tranches. A first tranche of 30 CBs with an aggregate principal amount of EUR 300,000 will be subscribed for (and payment instructed) by GTO 15 in the coming days. The second tranche is contemplated for the 10 July 2024. The issue and subscription of the remaining five tranches, each with a principal amount of EUR 300,000, can be requested at BioSenic’s sole discretion over a eighteen-month period beginning on the signing date of the subscription agreement, subject to customary conditions to be met (including (i) the possibility to immediately list any new shares resulting from the conversion of the CBs, (ii) as from the second tranche, that the average daily value of the company's shares over the trailing twenty trading days – trimmed for 10% of the outliers – being higher than EUR 20,000 and (iii) as from the fourth tranche onwards, in order to exercise further tranches, BioSenic should have secured additional funding for a minimum amount of EUR 800,000). More precisely, BioSenic shall be entitled to require the investor – without the investor’s further consent but subject in each case to certain conditions precedent being met – to subscribe for the second tranche on 10 July 2024 and thereafter to one subsequent tranche following a cool-down period of at least twenty trading days following the closing date of the previous tranche. GTO 15 has the right to request the issuance of one tranche.

    The CBs, denominated EUR 10,000 each, will be in the form of unsecured, subordinated, registered bonds. The CBs will not bear any coupon and have a maturity date of five years after issuance, which may be extended by up to a year if the automatic conversion of the CBs upon the maturity date would otherwise result in GTO 15 holding more than 24.9% of the company's voting shares. The CBs are convertible into ordinary shares of BioSenic. The conversion price will be equal to 95% of the lowest daily VWAP (Volume-Weighted Average Price) of the ordinary shares of BioSenic observed during the pricing period of ten consecutive trading days expiring on the trading day immediately preceding the date of CB holder’s request of conversion, it being agreed that any trading day where the CB holder participates in more than 25% of the daily trading volume will be excluded from the 10-day pricing period.

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    BioSenic signs a new subscription agreement for a maximum of EUR 2.1M in convertible bonds PRESS RELEASE – PRIVILEGED INFORMATION    Mont-Saint-Guibert, Belgium, June 21, 2024 6.00pm CEST – BioSenic (Euronext Brussels and Paris: BIOS), the clinical stage company specializing in serious autoimmune and inflammatory diseases and cell …

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