Continuation of support to Esperite's strategy, commercial activities and development of innovative technologies in the field of genetics and regenerative medicines
Amsterdam, The Netherlands - 11 April 2018
As of today, EUR 5,530,000 of notes out of the total commitment amounting to EUR 9 million have been converted into shares and EUR 247,500 of warrants out of a total potential amount of EUR 4,050,000 have been exercised into shares by European Select Growth Opportunities Fund (the "Investor"), therefore strengthening the Group's equity.
The Investor confirms its continuation of support to the development of Esperite's commercial activities and development of innovative technologies in the field of genetics and regenerative medicine and Esperite's strategy towards market development activities and has agreed to subscribe for a new tranche of EUR 400,000 today upon request of Esperite (the "17th Tranche"), although the conditions required under the financing agreement of up to EUR 13 million signed between Esperite and the Investor on March 8, 2017 (the "Agreement") are not currently met, in consideration for an additional commitment fee to waive such conditions.
The Group expects to issue a total of EUR 1,200,000 of principal amount of notes with warrants attached before May 25, 2018. The 17th Tranche is issued pursuant to a request from Esperite dated April 11, 2018 to issue up to EUR 1,200,000 in three tranches of EUR 400,000 principal amount each (the "17th, 18th and 19th Tranches") between today and respectively May 4 and May 25, 2018. The commitment of the Investor to subscribe to the 18th and 19th Tranche is subject to the fact that there will be EUR 50,000 or less of notes outstanding on these two dates.
The 17th Tranche is a private placement of 40 convertible notes with a principal amount of EUR 10,000 each, with 426,540 warrants attached. The notes and the warrants issued under the 18th and 19th, Tranche shall have the same characteristics as those described in the press release dated March 8, 2017.
As from May 25, 2018 or as soon as the 19th Tranche will have been issued, unless agreed otherwise between Esperite and the Investor, the initial terms and conditions of the Agreement will prevail again, including in particular the conditions for the delivery of a request by Esperite and the funding of a tranche by the Investor as described in the press release dated March 8, 2017.
About ESPERITE
ESPERITE group, listed at Euronext Amsterdam and Paris, is a leading international company in regenerative and precision medicine founded in 2000.
To learn more about the ESPERITE Group, or to book an interview with CEO Frédéric Amar: +31 575 548 998 - ir@esperite.com or visit the websites at www.esperite.com, www.genoma.com and www.cryo-save.com.
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This press release contains inside information as referred to in article 7 paragraph 1 of Regulation (EU) 596/2014 (Market Abuse Regulation).
With respect to Member States of the European Economic Area that have transposed European Directive 2003/71/EC of the European Parliament and European Council (as amended in particular by Directive 2010/73/EU to the extent that the said Directive has been transposed into each Member State of the European Economic Area), no action has been taken or will be taken to permit a public offering of the securities referred to in this press release requiring the publication of a prospectus in any Member State.
This press release and the information it contains do not, and will not, constitute an offer to subscribe for or sell, nor the solicitation of an offer to subscribe for or buy, securities of Esperite in the United States of America or any other jurisdiction. Securities may not be offered or sold in the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), it being specified that the securities of Esperite have not been and will not be registered within the US Securities Act. Esperite does not intend to register securities or conduct a public offering in the United States of America.
