Medicrea International SA (ENXTPA:ALMED) announced a private placement of senior secured and guaranteed notes for gross proceeds of $30 million on November 27, 2018. The transaction included participation from new investor Perceptive Credit Holdings II, LP. The notes will be governed by New-York law with coupon based on the greater of Three-Month LIBOR or 2.5% plus a margin of 8.5%. The notes are issued at par value and will mature on November 27, 2022. The notes will be guaranteed by Medicrea USA Corp, a 100% fully owned subsidiary of Medicrea and will be secured by pledges on certain assets and receivables of the Group. Investor acquired 1,000,000 warrants. One warrant entitles its holder to subscribe to one new ordinary share, at an exercise price of €2.19 ($2.473189). The warrants will be exercisable for a period of seven years after their issuance. The shares that would be issued in the event of the exercise of all the warrants represent 4.93% of the company’s share capital.