Brief: Biocartis Converts EUR 15 Million Of Its Convertible Bonds

Biocartis NV

07/12/2020 06:13

Dec 7 (Reuters) - Biocartis Group NV  BCART.BR :
    * BIOCARTIS ANNOUNCES THE CONVERSION OF EUR 15 MILLION OF
ITS EUR
150 MILLION 4% CONVERTIBLE BONDS DUE 2024
    * IN CONNECTION WITH CONVERSION, CO AGREED TO MAKE CASH
PAYMENT
EQUAL TO EUR 28,700 PER EUR 100,000 IN PRINCIPAL AMOUNT OF BONDS
PLUS ANY ACCRUED BUT UNPAID INTEREST
    * CURRENT CONVERSION PRICE OF THE BONDS IS EUR 12.8913 PER
ORDINARY SHARE
    * AMOUNT OF DEBT REDUCTION IN EXCHANGE FOR NEW ORDINARY
SHARES
AMOUNTS TO EUR 9.3 MILLION OR EUR 8 PER SHARE, 70% HIGHER THAN
CLOSING PRICE ON 4 DEC 2020
    * TOTAL DEBT REDUCTION AMOUNTS TO EUR 13.6 MILLION
    * WILL ALLOW CO TO REDUCE REPORTED DEBT AT ATTRACTIVE MARKET
CONDITIONS, STRENGTHEN CO'S SHAREHOLDERS’ EQUITY AT PREMIUM TO
CURRENT SHARE PRICE

Source text for Eikon:  ID:nNDL4vXZ1F 
Further company coverage:  BCART.BR 

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