Brief: Obseva Announces Corporate Updates

Obseva SA

27/05/2022 21:08

May 27 (Reuters) - Obseva SA  OBSN.S :
    * OBSEVA ANNOUNCES CORPORATE UPDATES
    * HAS ENTERED INTO A WAIVER AND AMENDMENT AGREEMENT
SECURITIES
PURCHASE AGREEMENT WITH CERTAIN FUNDS,ACCOUNTS MANAGED BY JGB
MANAGEMENT, INC.
    * OBSEVA HAS AGREED TO FURTHER RESTRICTIONS ON EXISTING
ACCOUNT
CONTROL AGREEMENT IN FAVOR OF JGB, WHICH SECURES SECURITIES
PURCHASE AGREEMENT
    * THIRD TRANCHE UNDER AGREEMENT WAS DUE TO BE FUNDED ON MAY
25,
HAS NOT BEEN FUNDED AS RESULT OF OBSEVA NOT MEETING FUNDING
CONDITION
    * WAIVER AND AMENDMENT AGREEMENT WITH JGB MANAGEMENT, IS
STRUCTURED TO PROVIDE UP TO $135 MILLION IN BORROWING CAPACITY,
AVAILABLE IN NINE TRANCHES
    * JGB ALSO RETAINS RIGHT, AT ITS SOLE OPTION, TO FUND THIRD
TRANCHE AT ANY TIME PRIOR TO FOURTH TRANCHE FUNDING DATE, WHICH
IS AUGUST 23, 2022
    * PURSUANT TO AMENDMENT AGREEMENT, JGB HAS AGREED TO WAIVE
ITS
RIGHT TO TERMINATE ITS OBLIGATION TO FUND FUTURE TRANCHES UNDER
AGREEMENT

Source text for Eikon:  ID:nGNEMSlRX 
Further company coverage:  OBSN.S 

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