Brief: Mithra Pharmaceuticals Announces Intention To Proceed With Private Placement

Mithra Pharmaceuticals SA

20/06/2022 07:22

June 20 (Reuters) - Mithra Pharmaceuticals SA  MITRA.BR :
    * ANNOUNCES INTENTION TO PROCEED WITH PRIVATE PLACEMENT
    * ANNOUNCES ITS INTENTION TO PROCEED WITH AN EQUITY RAISE
FOR AN
AGGREGATE MINIMUM AMOUNT OF EUR 20 MILLION VIA A PRIVATE
PLACEMENT OF NEW ORDINARY SHARES WITH CERTAIN PROFESSIONAL,
QUALIFIED, INSTITUTIONAL AND OTHER PRIVATE INVESTORS ONLY
    * TRADING IN MITHRA SHARES ON EURONEXT BRUSSELS WILL BE
SUSPENDED
UNTIL THE FINAL DETAILS OF THE CONTEMPLATED PRIVATE PLACEMENT
ARE ANNOUNCED
    * FURTHERMORE, THE COMPANY INTENDS TO PURSUE AND ACCELERATE
A COST
REDUCTION PROGRAMME TO IMPROVE THE CASH RUNWAY AND PERFORMANCE
OF THE COMPANY
    * COMPANY HAS ALREADY OBTAINED SUBSCRIPTION COMMITMENTS FROM
CERTAIN EXISTING SHAREHOLDERS FOR AN AGGREGATE AMOUNT OF EUR
21.9 MILLION
    * CUSTOMARY CORPORATE PROCEDURES AND CONDITIONS PRECEDENT
ARE
EXPECTED TO BE COMPLETED ON OR ABOUT THURSDAY 23 JUNE 2022
    * INTENDS TO ANNOUNCE FINAL DETAILS AND CONDITIONS OF
PRIVATE
PLACEMENT IN A SUBSEQUENT PRESS RELEASE
    * FINANCING IS EXPECTED TO BE CONVERTIBLE IN NEW SHARES OF
THE
COMPANY AT THE OPTION OF THE LENDERS
    * THE FINANCING IS STILL SUBJECT TO DISCUSSION, NEGOTIATION
AND
COMPLETION OF CERTAIN CONDITIONS PRECEDENTS, AND IT CANNOT BE
GUARANTEED THAT THE FINANCING CAN BE COMPLETED AS AFOREMENTIONED
    * IS CURRENTLY IN  EXCLUSIVE NEGOTIATIONS IN RESPECT OF
SECURED
CONVERTIBLE LOAN FOR PRINCIPAL AMOUNT OF UP TO EUR 100  MILLION


Further company coverage:  MITRA.BR 

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