BIOSENIC SA
Gosselies, Belgium, August 27, 2021, at 9:00 p.m. CEST
- BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), a biotechnology company focused on the development of innovative cell-based therapies addressing unmet medical needs in orthopedics and other diseases, announced today that it has received a disbursement offer from the European Investment Bank (EIB) for the first €8.0 million tranche of the €16.0 million financing agreement signed in July 2021. The first tranche of €8.0 million will be released in early September 2021. The receipt of the disbursement offer from the EIB for this first tranche follows the approval of the associated warrants issued by the Extraordinary General Meeting ('Extraordinary General Meeting') of Bone Therapeutics held on August 23, 2021. It results in the issuance of 800,000 warrants to the EIB. As part of this agreement, Bone Therapeutics also announces the renegotiation of the 800 convertible bonds issued on May 7, 2020 (for an amount of €2 million) to Patronale Life into a loan subject to the same repayment terms as the agreement with the EIB, and the issuance of 200,000 additional warrants unconditionally subscribed by Patronale Life under the terms and conditions decided by the Extraordinary General Meeting. The 800 convertible bonds held by Patronale Life will be cancelled as soon as the first tranche of €8.0 million has been paid out by the EIB. The 800 convertible bonds issued on May 7, 2020 towards Intégrale remain unchanged. Each warrant will entitle the holder to subscribe for one share of Bone Therapeutics with an exercise price of €2.52. The warrants will be exercisable from the redemption date of the relevant tranche.
'We are very pleased to receive the first tranche of our financing agreement with the European Investment Bank. The alignment of the repayment terms of the convertible bonds issued in 2020 with the terms of this financing agreement is an additional asset to strengthen our cash position,' said Jean-Luc Vandebroek, CFO of Bone Therapeutics. 'This support provides us with increased financial visibility to pursue our development. We sincerely thank the EIB and our shareholders, whose confidence has enabled us to reach these decisive steps in our development.' The specific terms and conditions applicable to the warrants associated with the EIB loans can be found in the Minutes of the Extraordinary General Meeting of August 23, 2021, in the Investors section of Bone Therapeutics' website.
- BONE THERAPEUTICS (Euronext Brussels and Paris: BOTHE), a biotechnology company focused on the development of innovative cell-based therapies addressing unmet medical needs in orthopedics and other diseases, announced today that it has received a disbursement offer from the European Investment Bank (EIB) for the first €8.0 million tranche of the €16.0 million financing agreement signed in July 2021. The first tranche of €8.0 million will be released in early September 2021. The receipt of the disbursement offer from the EIB for this first tranche follows the approval of the associated warrants issued by the Extraordinary General Meeting ('Extraordinary General Meeting') of Bone Therapeutics held on August 23, 2021. It results in the issuance of 800,000 warrants to the EIB. As part of this agreement, Bone Therapeutics also announces the renegotiation of the 800 convertible bonds issued on May 7, 2020 (for an amount of €2 million) to Patronale Life into a loan subject to the same repayment terms as the agreement with the EIB, and the issuance of 200,000 additional warrants unconditionally subscribed by Patronale Life under the terms and conditions decided by the Extraordinary General Meeting. The 800 convertible bonds held by Patronale Life will be cancelled as soon as the first tranche of €8.0 million has been paid out by the EIB. The 800 convertible bonds issued on May 7, 2020 towards Intégrale remain unchanged. Each warrant will entitle the holder to subscribe for one share of Bone Therapeutics with an exercise price of €2.52. The warrants will be exercisable from the redemption date of the relevant tranche.
'We are very pleased to receive the first tranche of our financing agreement with the European Investment Bank. The alignment of the repayment terms of the convertible bonds issued in 2020 with the terms of this financing agreement is an additional asset to strengthen our cash position,' said Jean-Luc Vandebroek, CFO of Bone Therapeutics. 'This support provides us with increased financial visibility to pursue our development. We sincerely thank the EIB and our shareholders, whose confidence has enabled us to reach these decisive steps in our development.' The specific terms and conditions applicable to the warrants associated with the EIB loans can be found in the Minutes of the Extraordinary General Meeting of August 23, 2021, in the Investors section of Bone Therapeutics' website.
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Bone Therapeutics SA published this content on 27 August 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 August 2021 19:11:04 UTC.
