- 9% secured convertible bonds replace €5 million in Kreos debt
- Conversion price €2 per share
- Remaining Kreos debt facilities reduced to €1.6 million
The bonds are unlisted, will be issued at par and will carry a coupon of 9.00% per annum, with interest on the bonds paid at maturity. The bonds can be converted into ordinary shares of the Company with the conversion price being €2.00, subject to adjustment in the case of share split or consolidation. The bonds are due
Dutch Translation/Nederlandse vertaling
“De herstructurering van onze schuld bij Kreos verlaagt onze cash burn. We betaalden tot op heden aan Kreos € 1,9 miljoen per kwartaal in contanten aan aflossingen van hoofdsom en rente. Deze converteerbare obligaties maken een eind aan deze betalingen tot ver in 2021, en verminderen onze resterende schuldenlast bij Kreos tot € 1,6 miljoen."
"We zijn al vele jaren investeerder in Kiadis en zijn erg blij met de ontwikkelingen bij de onderneming, vooral met de recente heroriëntatie op het K-NK-platform. De omzetting van een aanzienlijk deel van onze lening in een converteerbare structuur is een bevestiging van ons geloof in het lange-termijnpotentieel van zowel Kiadis als zijn K-NK-platform."
De obligaties zijn niet-beursgenoteerd, zullen a pari worden uitgegeven en zullen een coupon van 9,00% per jaar hebben, waarbij de rente op de obligaties wordt uitgesteld tot op de eindvervaldag. De obligaties en coupon kunnen worden omgezet in gewone aandelen Kiadis met een conversieprijs van € 2,00, onder voorbehoud van aanpassing in geval van aandelensplitsing of consolidatie. De obligaties vervallen op
Dit persbericht vormt een samenvatting van het gepubliceerde Engelstalige persbericht. Bij eventuele verschillen is de tekst van het Engelstalige persbericht altijd leidend.
Contacts
Kiadis: Tel: +1 (617) 710-7305 m.cimino@kiadis.com | LifeSpring Life Sciences Communication: Tel: +31 538 16 427 lmelens@lifespring.nl Mary Clark, Tel: +44 203 950 9144 kiadis@optimumcomms.com |
About Kiadis
Founded in 1997, Kiadis is building a fully integrated biopharmaceutical company committed to developing innovative cell-based medicines for patients with life-threatening diseases. With headquarters in
Kiadis is listed on the regulated market of Euronext Amsterdam and Euronext Brussels since
Forward Looking Statements
Certain statements, beliefs and opinions in this press release are forward-looking, which reflect Kiadis' or, as appropriate, Kiadis' officers' current expectations and projections about future events. By their nature, forward-looking statements involve a number of known and unknown risks, uncertainties and assumptions that could cause actual results, performance, achievements or events to differ materially from those expressed, anticipated or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial effects of the plans and events described herein. A multitude of factors including, but not limited to, changes in demand, regulation, competition and technology, can cause actual events, performance, achievements or results to differ significantly from any anticipated or implied development. Forward-looking statements contained in this press release regarding past trends or activities should not be taken as a representation that such trends or activities will continue in the future. As a result, Kiadis expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this press release as a result of any change in expectations or projections, or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. Neither Kiadis nor its advisers or representatives nor any of its subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forward-looking statements contained in this press release or the actual occurrence of the anticipated or implied developments. You should not place undue reliance on forward-looking statements, which speak only as of the date of this press release.
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