Brief: Boostheat Signs Amendment To Extend Its Equity Financing Line Out To May 2023

Boostheat SAS

17/05/2022 17:26

May 17 (Reuters) - Boostheat SAS  ALBOO.PA :
    * ANNOUNCED SIGNATURE OF AN AMENDMENT TO EXTEND ITS EQUITY
FINANCING LINE OUT TO MAY 2023
    * ADDITIONAL SOURCE OF FUNDING SHOULD ENABLE COMPANY TO
OBTAIN
NECESSARY RESOURCES TO IMPLEMENT ITS BUSINESS PLAN WITH MAIN
OBJECTIVE BEING A RETURN TO MARKET FOR WINTER 2023-2024
    * IN ACCORDANCE WITH INITIAL CONTRACT CONCLUDED WITH IRIS
CAPITAL
ON MAY 20, 2021, LATTER COMMITTED TO FINANCING BOOSTHEAT TO
EXTENT OF EUR 10M OVER A PERIOD OF 12 MONTHS BY SUBSCRIBING A
MAXIMUM OF 4,000 BONDS REDEEMABLE IN NEW SHARES OF ISSUER, FOR A
NOMINAL VALUE OF EUR 2,500 EACH
    * TERM OF COMMITMENT HAS BEEN EXTENDED TO 24 MONTHS, I.E.
OUT TO
MAY 2023, TO ISSUE REMAINING EUR 7M WITHOUT A MINIMUM EXCHANGE
VOLUME CONDITION ON BOOSTHEAT SHARES
    * 24-MONTH PERIOD SHALL APPLY INCLUDING IN EVENT OF RENEWAL
    * MAINTAINS OPTION TO SUSPEND, WITHOUT PENALTIES AND
REACTIVE
DRAWDOWNS ACCORDING TO ITS NEEDS, OR EVEN TO TERMINATE FINANCING
LINE
    * OTHER PROVISIONS ARE UNCHANGED AND REMAIN IN FORCE

Source text for Eikon:  ID:nACT74646 
Further company coverage:  ALBOO.PA 

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