Brief: Polyphor Enters Into Equity-linked Financing Arrangement With French Co Iris

Spexis AG

28/07/2020 06:05

July 28 (Reuters) - POLYPHOR AG  POLN.S :
    * STRENGTHENS FINANCIAL FLEXIBILITY WITH CHF 19.3 MILLION
EQUITY-LINKED FINANCING
    * HAS ENTERED INTO AN EQUITY-LINKED FINANCING ARRANGEMENT
WITH
FRENCH COMPANY IRIS TO RAISE A GROSS AMOUNT OF UP TO CHF 19.3
MILLION OVER PERIOD OF TWO YEARS
    * IRIS WILL RECEIVE POLYPHOR SHARES TO BE CREATED FROM
COMPANY'S
CONDITIONAL CAPITAL BASED ON THIS INTEREST-FREE MANDATORY
CONVERTIBLE BONDS PROGRAM
    * REMAINS AT SOLE DISCRETION OF POLYPHOR TO SUSPEND OR
TERMINATE
STAGGERED FINANCING
    * IRIS IS COMMITTED TO BUY ON A MONTHLY BASIS OVER A PERIOD
OF TWO
YEARS TWENTY-FOUR TRANCHES OF CHF 800,000 OF UNSECURED
ZERO-COUPON MANDATORY CONVERTIBLE BONDS
    * PROGRAM CAN BE TAILOR-MADE IN TERMS OF PERIOD AND TRANCHE
SIZE,
ACCORDING TO POLYPHOR'S FINANCING NEEDS
    * IRIS WILL CONVERT EACH MONTH MANDATORY CONVERTIBLE BONDS
INTO
SHARES AT A DISCOUNT TO APPLICABLE VOLUME WEIGHTED AVERAGE PRICE
(VWAP)
    * SHARES ARE EXPECTED TO BE SOLD ON MARKET OR IN BLOCK
TRADES

Source text for Eikon:  ID:nEQ9GTJrta 
Further company coverage:  POLN.S 

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