Brief: Santhera Enters Equity-Linked Financing With IRIS For Up To CHF 24 Million

Santhera Pharmaceuticals Holding AG

08/04/2020 06:09

April 8 (Reuters) - SANTHERA PHARMACEUTICALS HOLDING AG
 SANN.S :
    * ENTERED INTO AN EQUITY-LINKED FINANCING ARRANGEMENT WITH
IRIS
(FRANCE) IN INITIAL GROSS AMOUNT OF UP TO CHF 12 MILLION OVER 12
MONTHS
    * OPTION TO EXTEND BY ANOTHER CHF 12 MILLION OVER ANOTHER 12
MONTHS
    * IRIS WILL RECEIVE SANTHERA SHARES TO BE CREATED FROM
COMPANY'S
AUTHORIZED CAPITAL AND IS EXPECTED TO SELL THESE SHARES ON
MARKET OR IN BLOCK TRADES
    * IT REMAINS AT SOLE DISCRETION OF SANTHERA TO SUSPEND OR
TERMINATE STAGGERED FINANCING
    * IRIS WILL FUND UP TO 12 TRANCHES OF NOMINAL CHF 1 MILLION
EACH
IN A STAGGERED MANNER
    * BOARD OF DIRECTORS HAS EXCLUDED PREEMPTIVE RIGHTS OF
EXISTING
SHAREHOLDERS
    * IRIS WILL RECEIVE SANTHERA SHARES AT A DISCOUNT TO
APPLICABLE
VOLUME WEIGHTED AVERAGE PRICE (VWAP).
    * IN CONNECTION WITH FINANCING, SANTHERA WILL ISSUE SHARES
OUT OF
ITS AUTHORIZED SHARE CAPITAL

Source text for Eikon:  ID:nGNXbSS3JP 
Further company coverage:  SANN.S 

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