Brief: Adocia Strengthens Cash Position With 6 Million Euros Through Convertible Bonds Issuance

Adocia SA

01/12/2022 06:36

Dec 1 (Reuters) - Adocia SA  ADOC.PA :
    * STRENGTHENS ITS CASH POSITION WITH EUR 6 MILLION THROUGH
THE
ISSUANCE OF CONVERTIBLE BONDS SUBSCRIBED BY EUROPEAN INVESTORS
IN ORDER TO ACCELERATE THE DEVELOPMENT OF KEY PRODUCTS
    * IMMEDIATE RECEIPT OF EUR 6 MILLION BRINGS ADOCIA'S CASH
POSITION
TO EUR 20.7 MILLION AS OF TODAY
    * ADDITIONAL FUNDS WILL CONTRIBUTE TO DEVELOPMENT OF TWO
PRODUCTS
THAT HAVE SHOWN PROMISING RESULTS: M1PRAM AND ADOSHELL® ISLETS
    * A STRENGTHENED FINANCIAL SITUATION WHILE WAITING FOR
RECEPTION
OF REVENUE FROM COLLABORATION WITH TONGHUA DONGBAO (POTENTIAL TO
RECEIVE USD 80 MILLION) AND FOR SIGNATURE OF NEW PARTNERSHIPS
    * FUNDS RAISED WILL BE USED TO FINANCE COMPANY'S PORTFOLIO,
AND
MORE SPECIFICALLY DEVELOPMENT OF ADOSHELLISLETS AND OF M1PRAM
    * FUNDS WILL ALSO ENABLE COMPANY TO STRENGTHEN ITS CASH
POSITION
BY EUR 20.7 MILLION AND TO ENSURE FINANCING OF ITS ACTIVITIES
OVER NEXT 12 MONTHS
    * CONVERTIBLE BONDS WILL NOT BEAR INTEREST AND WILL MATURE
ON
NOVEMBER 30, 2024

Source text for Eikon:  ID:nBw9g5Sfxa 
Further company coverage:  ADOC.PA 
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