Brief: Sequana Medical Launches Equity Offering To Extend Cash Runaway

Sequana Medical NV

24/04/2023 16:14

April 24 (Reuters) - Sequana Medical NV  SEQUA.BR :
    * SEQUANA MEDICAL LAUNCHES EQUITY PLACEMENT AND AMENDS
CERTAIN
EXISTING LOAN AGREEMENTS
    * ANNOUNCES LAUNCH OF EQUITY OFFERING TO RAISE AMOUNT OF
ABOUT EUR
15 MILLION BY MEANS OF PRIVATE PLACEMENT OF NEW SHARES,
SUBSCRIPTION RIGHTS VIA ACCELERATED BOOKBUILD OFFERING WITH
POSSIBILITY TO INCREASE SIZE OF OFFERING
    * NET PROCEEDS FROM OFFERING ARE EXPECTED TO EXTEND CURRENT
CASH
RUNWAY FROM MID-2023 INTO Q1 OF 2024
    * OFFERING SHALL BE STRUCTURED AS PRIVATE PLACEMENT OF NEW
SHARES
AND SUBSCRIPTION RIGHTS VIA AN ACCELERATED BOOKBUILDING, WHICH
WILL COMMENCE IMMEDIATELY
    * EXERCISE PRICE: EXERCISE PRICE OF SUBSCRIPTION RIGHTS
SHALL BE
EUR 5.10 PER SHARE THAT CAN BE SUBSCRIBED FOR
    * TRADING IN SEQUANA MEDICAL SHARES ON EURONEXT BRUSSELS
WILL BE
SUSPENDED DURING BOOKBUILDING PERIOD
    * SUBSCRIPTION RIGHTS WILL HAVE A TERM OF FIVE (5) YEARS,
AND WILL
BE EXERCISABLE AS FROM 30 OCTOBER 2023
    * TRADING IN SHARES IS EXPECTED TO RESUME FOLLOWING
PUBLICATION OF
RESULTS OF OFFERING
    * FOR EVERY FOUR (4) NEW SHARES SUBSCRIBED FOR IN OFFERING,
INVESTORS WILL OBTAIN ONE (1) ADDITIONAL SUBSCRIPTION RIGHT
    * AMENDMENT AGREEMENTS ON REPAYMENT TERMS UNDER EUR 10
MILLION
LOAN WITH KREOS CAPITAL. EUR 4.3MLN PARTIALLY CONVERTIBLE CORONA
LOAN WITH PMV STANDAARDLENINGEN
    * COMPANY INTENDS TO CONTINUE TO DELIVER ON A NUMBER OF
IMPORTANT
MILESTONES IN 2023 THAT ARE STRATEGIC TO ITS BUSINESS
    * AMENDMENT AGREEMENTS ON REPAYMENT TERMS UNDER EUR 2
MILLION LOAN
WITH BELFIUS INSURANCE, AND EUR 400,000 LOAN WITH SENSINNOVAT BV

Source text for Eikon:  ID:nGNE3vl4xj 
Further company coverage:  SEQUA.BR 

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