IDEX Biometrics ASA announced that it has entered into a non-binding term sheet to issue senior convertible bond for the gross proceeds of NOK 100 million on November 7, 2023. The bonds will have a coupon rate of 6% per annum. The convertible bond will be issued at a price of 92% of the principal amount, and will be amortized over 3,5 years through instalment every 2 months over the period.

The instalment periods may be altered during the amortizing period. Conversion price will be at a premium to the stock price at closing of the final agreements and any repayments by issuance of shares will be at a discount to market price at each instalment. The transaction subject to approval of the formal agreements and shareholder approval.