Brief: Gensight Biologics Secures EUR 12 Million Financing Via Convertible Notes Issue

Gensight Biologics SA

23/12/2022 06:33

Dec 23 (Reuters) - Gensight Biologics SA  SIGHT.PA :
    * GENSIGHT BIOLOGICS SECURES €12 MILLION FINANCING THROUGH A
PREMIUM CONVERTIBLE NOTES ISSUANCE TO AN INSTITUTIONAL INVESTOR
AND PROVIDES BUSINESS UPDATE
    * NEW EUR 12 MILLION FINANCING SUBSCRIBED AT 90% OF NOMINAL
VALUE
I.E. 10.8 MILLION EUROS WITH AN ENTITY ADVISED BY HEIGHTS
CAPITAL MANAGEMENT, INC.
    * FULL REPAYMENT OF FINANCING WITH KREOS EXPECTED BEFORE END
OF
2022
    * SIGNING OF A WARRANT AGREEMENT AND UPCOMING REQUEST TO
DRAW DOWN
TRANCHE A OF FINANCING WITH EIB FOR EUR 8 MILLION
    * RUNWAY EXTENDED THROUGH Q2 2023 AFTER TAKING INTO ACCOUNT
THESE
TRANSACTIONS
    * AS AT SEPTEMBER 30, 2022, COMPANY'S AVAILABLE CASH
AMOUNTED TO
EUR 13.9 MILLION.
    * AFTER COMPLETION OF FINANCING, COMPANY EXPECTS TO BE ABLE
TO
MEET ITS OBLIGATIONS UNTIL APRIL 2023.
    * LUMEVOQ: ANTICIPATES OPINION OF COMMITTEE FOR MEDICINAL
PRODUCTS
FOR HUMAN USE (CHMP) OF EMA IN Q3 2023

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