Amoéba S.A. announced that it has entered into a simple bond financing agreement for a private placement of 300 convertible bonds at an issue price of €28,200 each for gross proceeds of €8,460,000 on February 14, 2023. The transaction will include participation from returning investor, Nice & Green SA. The bonds will have a nominal value of €30,000 each.

The bonds will be subscribed at a unit price equal to 94% of their nominal value of €28,200 each. The bonds will be issued in three tranches of €2,820,000 per tranche, each comprising of 100 bonds. The first tranche between June 30, 2023 and August 31, 2023 for 1 to 100 bonds, second tranche between September 1, 2023 and November 30, 2023 for 101 to 200 bonds, third tranche between December 1, 2023 and Marche 1, 2024 for 201 to 300 bonds.

Each bonds have a maturity of thirty months from the date of issue. The bonds will bear interest at the 6-month EURIBOR rate on the date of each drawdown plus 600 basis points. The company will reimburse in cash the bonds from the expiry of a period of six months after the date of issue of each tranche on a straight-line basis through the payment of 8 quarterly instalments, the first repayment date for an amount of approximately €430,000 at the current EURIBOR rate will be 31 March 2024 at the earliest.

In the event of a total or partial default on a quarterly payment due by the company to investor will have the option of either pursuing an action for recovery of its bond debt or exercising its right to request the issuance of warrants, which will allow for the subscription of shares in the company, the equivalent value of which will correspond to the bond debt.