Brief: Pixium Vision Updates On Communication with Second Sight Medical Products Regarding Potential Private Placement

Pixium Vision SA

25/03/2021 07:52

March 25(Reuters) - PIXIUM VISION SA  ALPIX.PA :
    * SAID ON WEDNESDAY IT ACKNOWLEDGED THE TERMS OF THE PRESS
RELEASE
ISSUED BY SECOND SIGHT MEDICAL PRODUCTS, INC. ON MARCH 24
    * IT ALSO ACKNOWLEDGES THE FORM 8-K FILED WITH THE SEC
ANNOUNCING
THAT SECOND SIGHT HAS ENTERED INTO DEFINITIVE SECURITIES
PURCHASE AGREEMENTS FOR A PRIVATE PLACEMENT, EXPECTED TO BE
CLOSED ON MARCH 26
    * SUCH TRANSACTION ON THE CAPITAL OF SECOND SIGHT IS
EXPLICITLY
PROHIBITED UNDER THE TERMS OF THE MEMORANDUM OF UNDERSTANDING
ENTERED INTO BY THE COMPANIES ON JANUARY 5, AS IT IS NOT CARRIED
OUT IN THE CONTEXT OF THE BUSINESS COMBINATION BETWEEN PIXIUM
AND SECOND SIGHT, IT SAYS
    * THEREFORE, SECOND SIGHT HAD REQUESTED THE PRIOR CONSENT OF
PIXIUM OVER THE PAST FEW DAYS
    * PURSUANT TO THE UNANIMOUS DECISION OF ITS BOARD OF
DIRECTORS,
PIXIUM NOTIFIED SECOND SIGHT ON MARCH 23 OF ITS REFUSAL
    * PIXIUM'S BOARD OF DIRECTORS CONSIDERED THAT SUCH PRIVATE
PLACEMENT MIGHT, DUE TO REGULATORY CONSTRAINTS AND THE MARKET
RISKS ASSOCIATED, JEOPARDIZE THE LIKELINESS OF THE CLOSING OF
THE $25 MILLION CAPITAL INCREASE CONTEMPLATED IN THE MEMORANDUM
OF UNDERSTANDING AND CONSEQUENTLY OF THE BUSINESS COMBINATION
    * PIXIUM HAS REQUESTED FROM SECOND SIGHT COMMUNICATION OF
THE
TERMS AND CONDITIONS OF THE PRIVATE PLACEMENT IN ORDER TO ASSESS
ALL THE OPTIONS AVAILABLE
    * OPTIONS INCLUDE STUDYING ALTERNATIVE FINANCING SOLUTIONS
ON
WHICH THE COMPANY HAD BEEN WORKING ON PRIOR TO ENTERING INTO THE
MEMORANDUM OF UNDERSTANDING WITH SECOND SIGHT

        
 Source text: https://bit.ly/3cieHuM
    
 Further company coverage:  ALPIX.PA  
   


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