Cellnovo Group SA (ENXTPA:CLNV) announced that it has entered into a debt financing agreement with Kreos Capital for gross proceeds of €3 million on July 26, 2018. The company will convertible bonds in three tranches. The bonds under second and third tranches will be available, respectively, on or prior to January 31, 2019 and June 30, 2019. The issuance of convertible bonds is subject to approval by the shareholders of the company at the meeting to be held on May 24, 2018 pursuant to its 23rd and 24th resolutions. The bonds carry an interest rate of 10.25% per annum and will mature after 54 months. The bonds are convertible into ordinary shares of the company, at any time upon request by Kreos Capital, at a price per share equal to the 5 trading-day volume-weighted average price of company's shares before the drawdown date of the first tranche of the loan, increased by a 5% premium, for which the price would be adjusted down in case of early prepayment of the loan by the company as of June 30, 2018. The company will also issue 450,000 warrants issued by company to the investor to subscribe up to 450,000 common shares at a price per share equal to the 3 trading-day volume-weighted average price of common shares before the drawdown date of the first tranche of the loan, representing approximately 2.69% of the share capital as at June 30, 2018.