Brief: OSE Immunotherapeutics Receives Eur 10 Mln Payment From EIB

Ose Immunotherapeutics SA

09/07/2021 17:18

July 9 (Reuters) - OSE IMMUNOTHERAPEUTICS SA  OSE.PA :
    * RECEIVES A €10 MILLION PAYMENT CORRESPONDING TO THE FIRST
TRANCHE OF THE FINANCING GRANTED BY THE EUROPEAN INVESTMENT BANK
    * THIS EUR 10 MILLION PAYMENT REINFORCES COMPANY'S FINANCIAL
VISIBILITY UNTIL Q3 2022
    * FINANCE CONTRACT ALLOWS COMPANY TO BORROW UP TO EUR 25
MILLION
    * SECOND AND THIRD TRANCHES, RESPECTIVELY OF EUR 10 MILLION
AND
EUR 5 MILLION, MAY BE DRAWN AT HAND OF COMPANY
    * FIRST TRANCHE WILL CARRY A FIXED INTEREST OF 5% PER YEAR
PAID
ANNUALLY, WITH A MATURITY OF FIVE YEARS
    * SUBSCRIPTION PRICE IS EUR 0.01 PER WARRANT, I.E, EUR 8,500
    * SUBSCRIPTION PRICE FOR NEW SHARES UPON EXERCISE OF
WARRANTS WAS
SET AT 10.59 EUROS PER SHARE
    * WARRANTS WILL ONLY BE EXERCISABLE FROM 9 JULY 2026, I.E.
FIVE
YEARS FROM DRAWDOWN OF RELEVANT TRANCHE AND AT LATEST AT END OF
A PERIOD OF TWELVE YEARS FOLLOWING THEIR ISSUE
    * WARRANTS WILL ONLY BE EXERCISABLE FROM 9 JULY 2026

Source text for Eikon:  ID:nBw20dgqa 
Further company coverage:  OSE.PA 

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