Brief: Sequana Medical Secures EUR 10 Million Loan Facility With Kreos Capital

Sequana Medical NV

20/07/2022 06:07

July 20 (Reuters) - Sequana Medical NV  SEQUA.BR :
    * SEQUANA MEDICAL SECURES EUR 10 MILLION LOAN FACILITY WITH
KREOS
CAPITAL
    * LOAN FACILITY AGREEMENT ALLOWS COMPANY TO REQUEST ON AN
UNCOMMITTED BASIS ADDITIONAL LOANS OF UP TO EUR 10 MILLION AT A
LATER DATE
    * LOAN FACILITY, WHICH IS AVAILABLE FOR DRAWDOWN UNTIL 30
SEPTEMBER 2022 IN MINIMUM AMOUNTS OF EUR 1,500,000, MATURES ON
30 SEPTEMBER 2025
    * PROCEEDS FROM LOAN WILL BE USED TO FINANCE GENERAL WORKING
CAPITAL REQUIREMENTS
    * LOAN FACILITY EXTENDS OUR CASH RUNWAY INTO Q3 2023 - CEO
    * KREOS SHALL ALSO RECEIVE, FREE OF CHARGE, SUBSCRIPTION
RIGHTS
FOR NEW SHARES, WITH A TERM OF SEVEN YEARS, FOR AN (I) AGGREGATE
ISSUE PRICE OF EUR 650,000, AT AN ISSUE PRICE PER SHARE OF EUR
5.31

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

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