Brief: Erytech Announces EUR 3 Million Convertible Bond Issue

Phaxiam Therapeutics SA

25/06/2020 07:11

June 25 (Reuters) - Erytech Pharma SA  ERYP.PA :
    * ERYTECH EXTENDS ITS CASH HORIZON BY IMPLEMENTING A
CONVERTIBLE
BOND FINANCING
    * NOTES COME WITH SHARE WARRANTS REPRESENTING 10% OF NOMINAL
AMOUNT OF ISSUED NOTES
    * ANNOUNCED TODAY THE SIGNATURE OF AN AGREEMENT ALLOWING THE
ISSUANCE FOR THE BENEFIT OF LUXEMBOURG-BASED EUROPEAN HIGH
GROWTH OPPORTUNITIES SECURITIZATION FUND
    * AIMS AT IMPROVING COMPANY'S FINANCIAL STRENGTH AND
EXTENDING ITS
CASH HORIZON FOR NEXT KEY DEVELOPMENT MILESTONES
    * EXERCISE PRICE WILL REFLECT  20% PREMIUM OVER LOWEST
VOLUME-WEIGHTED AVERAGE DAILY PRICE OF SHARE OVER REFERENCE
PERIOD PRECEDING ISSUE OF FIRST TRANCHE
    * FINANCING FACILITY COMPRISES ZERO-COUPON NOTES AND LIMITED
DISCOUNT ON CONVERSION, AS WELL AS MODERATE WARRANT COVERAGE
WITH CLEAR INTEREST ALIGNMENT BETWEEN ERYTECH AND ALPHA BLUE
OCEAN
    * NOTE WARRANTS MAY BE EXERCISED IN TRANCHES OVER A PERIOD
OF 24
MONTHS FROM JUNE 25, 2020, I.E. UNTIL JUNE 25, 2022
    * NOTES, WITH NOMINAL VALUE OF EUR 50,000 EACH, WILL BE
ISSUED
UPON EXERCISE OF NOTE WARRANTS, IN ONE OR MORE TRANCHES, OF 60
NOTES CORRESPONDING TO  TOTAL NOMINAL VALUE OF EUR 3 MILLION
    * ISSUANCE OF FIRST TRANCHE OF OCABSA TO BENEFIT OF INVESTOR
IS
EXPECTED TO TAKE PLACE IN JULY 2020

Source text for Eikon:  ID:nGNX9GB71f 
Further company coverage:  ERYP.PA 

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