Brief: Mithra Pharmaceuticals Announces Corporate Update

Mithra Pharmaceuticals SA

25/05/2023 06:37

May 25 (Reuters) - Mithra Pharmaceuticals SA  MITRA.BR :
    * LETTER TO SHAREHOLDERS AND CORPORATE UPDATE
    * ACCESS TO EUR15 MILLION UNDER AMENDED DEAL
    * DONESTA(®) FILING RESCHEDULED FOR H2 2023 - STILL
EXPECTING U.S.
APPROVAL IN H1 2024
    * TODAY WE ANNOUNCED THAT WE HAVE SUCCESSFULLY REACHED AN
AGREEMENT TO UPDATE TERMS OF OUR LOAN FACILITY AGREEMENT WITH
HIGHBRIDGE AND WHITEBOX
    * FOLLOWING SUCCESSFUL NEGOTIATION WITH KEY DEBT PROVIDERS,
HIGHBRIDGE AND WHITEBOX, MITHRA WILL RECEIVE ACCESS TO EUR 12.5
MILLION OF TRANCHE C.
    * CAPITAL INCREASE IS EXPECTED TO BE COMPLETED LATER TODAY
    * AT END OF APRIL, MITHRA'S UNAUDITED CASH POSITION WAS
ABOUT EUR
26 MILLION ON A PROFORMA BASIS
    * LOAN INTEREST COUPON WILL BE ADJUSTED IN LINE WITH CURRENT
MARKET CONDITIONS FROM 7.5% TO 8.0% FOR TRANCHE A AND B, AND 9%
FOR NEWLY DRAWN TRANCHE C
    * COMPANY INTENDS NO LONGER TO MAKE DRAWINGS UNDER GSI
FACILITY.
    * HIGHBRIDGE AND WHITEBOX HAVE ELECTED TO SUBSCRIBE FOR EUR
2.5
MILLION OF NEW SHARES TO BE ISSUED BY COMPANY AT AN ISSUE PRICE
OF EUR 2.20

Source text for Eikon:  ID:nGNE9br6qY 
Further company coverage:  MITRA.BR 

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