Brief: Pharnext And Global Tech Opportunities 13 Agree To Stop Convertible Bond Program From End Of May 2022

Global Tech Industries

22/12/2021 18:37

Dec 22 (Reuters) - Pharnext  PHARN.PA :
    * PHARNEXT AND GLOBAL TECH OPPORTUNITIES 13  GTII.PK  AGREE
TO
STOP CONVERTIBLE BOND PROGRAM FROM END OF MAY 2022
    * TO AMEND TERMS OF EXISTING FINANCING PROGRAM ANNOUNCED IN
JUNE
2021 IN ORDER TO (AMONG OTHER ADJUSTMENTS) REDUCE NUMBER OF
OCEANE-BSA TRANCHES TO 5 OCEANE-BSA TRANCHES OVER 5-MONTH PERIOD
FROM JANUARY TO MAY 2022 (REDUCING TOTAL NUMBER OF OCEANE-BSA
TRANCHES FROM 35 TO 12)
    * REDUCING TOTAL NUMBER OF OCEANE-BSA TRANCHES FROM 35 TO 12
    * THESE 5 OCEANE-BSA TRANCHES TO BE DRAWN FROM JANUARY TO
MAY 2022
WILL REPRESENT A GROSS TOTAL PAR VALUE OF EUR 15 MILLION,
SUBJECT TO CUSTOMARY CONDITIONS.
    * LAST OCEANE-BSA TRANCHE IS EXPECTED TO BE ISSUED IN MAY
2022
    * CERTAIN TERMS OF AMENDEMENT ARE SUBJECT TO APPROVAL OF A
SPECIFIC AUTHORIZATION AT AN EXTRAORDINARY GENERAL MEETING OF
SHAREHOLDERS TO BE HELD AT LATEST BY FEBRUARY 11, 2022
    * PHARNEXT WILL GRANT A LOW SINGLE-DIGIT ROYALTY ON NET
SALES OF
PXT3003 PRODUCT DURING LIFETIME OF RELATED PATENT

Source text for Eikon:  ID:nEQ67RzLLa 
Further company coverage:  GTII.PK 

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