Brief: Cosmo Pharmaceuticals Increases Its Stake In Acacia Pharma To 18.53%

Cosmo NV

02/06/2020 06:43

COSMO PHARMACEUTICALS  COPN.S :
    * SAID ON MONDAY, COSMO PHARMACEUTICALS INCREASES ITS STAKE
IN
ACACIA PHARMA TO 18.53%
    * EUR 10 MLN LOAN FACILITY PROVIDED BY COSMO TO ACACIA IN
JANUARY
2020, WHICH WAS AVAILABLE FOR DRAWDOWN BY ACACIA IN FEBRUARY
2020, IS TERMINATED​
    * LOAN WAS ‍REPLACED WITH EUR 10 MLN EQUITY INVESTMENT AT A
PRICE
OF EUR 3.112 PER SHARE WHICH REPRESENTS 4.1% PREMIUM TO ACACIA
PHARMA CLOSING SHARE PRICE ON 29 MAY 2020 
    * 3,213,769 ACACIA ORDINARY SHARES TO BE ISSUED TO COSMO
    * A FURTHER 367,893 SHARES ARE BEING ISSUED TO COSMO (AT AN
EQUITY
SUBSCRIPTION PRICE OF EUR2.99 PER SHARE) IN SATISFACTION OF A
EUR 1,100,000 BREAK FEE PAYABLE UNDER TERMS OF LOAN AMENDMENT
    * EUR 25 MLN LOAN FACILITY WHICH WILL BE MADE AVAILABLE BY
COSMO
TO ACACIA ON APPROVAL OF BYFAVO(TM) HAS NOT BEEN AFFECTED BY
THIS TRANSACTION
    * ‍FOLLOWING TRANSACTION, COSMO WILL BE HOLDING 12,576,329
ACACIA
ORDINARY SHARES ACQUIRED AT AN AVERAGE COST OF EUR 2.47 PER
SHARE​​

    
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