Archos SA announced a private placement of convertible bonds for gross proceeds of 25,000,000 on March 17, 2021. The transaction will include participation from returning investor, YA II PN, Ltd., a fund managed by Yorkville Advisors Global LP in four tranches of 3,000,000 each for a total amount of 12,000,000, over the next nine months and thirteen tranches with a nominal value of 1,000,000 each for a total amount of 13,000,000 during a period of twenty-seven months. The company will also issue 2,500 warrants in the transaction.
The convertible bonds are convertible into common shares of the company.