Brief: Biocartis: Launch Of Amendment Process And Exchange Offer For Existing Convertible Bonds

Biocartis NV

26/09/2022 06:49

Sept 26 (Reuters) - Biocartis Group NV  BCART.BR :
    * BIOCARTIS ANNOUNCES LAUNCH OF AMENDMENT PROCESS AND
EXCHANGE
OFFER FOR ITS EXISTING CONVERTIBLE BONDS
    * THIS IS ANOTHER SIGNIFICANT MILESTONE TOWARDS SECURING
APPROXIMATELY EUR 66 MILLION OF NEW MONEY TO SUPPORT COMPANY'S
GROWTH FOR FORESEEABLE FUTURE
    * HOLDERS OF MORE THAN 65% OF EXISTING CONVERTIBLE BONDS HAD
ALREADY COMMITTED TO VOTE IN FAVOUR OF SUCH AMENDMENTS ON 1
SEPTEMBER 2022, AND COMPANY HAS RECEIVED ADDITIONAL SUPPORT
SINCE THEN
    * LAUNCH OF AMENDMENT PROCESS AND EXCHANGE OFFER FOR ITS
4.00%
CONVERTIBLE BONDS DUE 2024
    * AS ANNOUNCED, HOLDERS OF EXISTING CONVERTIBLE BONDS ARE
BEING
ASKED TO APPROVE CERTAIN AMENDMENTS TO EXISTING CONVERTIBLE
BONDS SUCH AS A PARTIAL EQUITIZATION EQUAL TO 10% OF NOTIONAL
AMOUNTS OUTSTANDING, A MATURITY EXTENSION BY 3.5 YEARS TO
NOVEMBER 2027
    * NEW CONVERTIBLE BONDS WILL BENEFIT FROM ASSET SECURITY,
SHARES
SECURITY AND CERTAIN GUARANTEES, MATURE IN NOVEMBER 2026, AND
PAY A HIGHER 4.5% CASH COUPON
    * EXISTING HOLDERS THAT DO NOT PROVIDE ADDITIONAL FUNDING
PURSUANT
TO NEW CONVERTIBLE BONDS TERMS WILL NOT BE PERMITTED TO
EXCHANGE, AND THEIR EXISTING CONVERTIBLE BONDS WILL REMAIN
OUTSTANDING WITH AMENDED TERMS

Source text for Eikon:  ID:nGNE9k86hx 
Further company coverage:  BCART.BR 
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