Pixium Vision SA announced that it has entered into a new convertible note financing agreement with European Select Growth Opportunities Fund, a fund managed by L1 Capital Pty. Limited for the issuance of 3000 notes for a maximum nominal amount of Ç30 million on July 13, 2022. The notes are redeemable in cash and/or new shares without interest and without share warrants, over a maximum period of 36 months. The notes will have a nominal value of Ç10,000 each, with a maturity of 12 months from the date of issue, will be subscribed at 96% of par and will not bear interest. Each tranche of notes will give rise to the payment in cash of a commitment fee representing 3% of the nominal amount of each tranche of notes subscribed, deducted from the amount to be received by the company in respect of each tranche subscribed.
On the same date, the company received Ç5.5 million in its first tranche. The company issued 550 notes and 1,225 tranche warrants in its first tranche. The company will further raise its second tranche of Ç2 million within 70 days, third tranche of Ç2 million within 140 days and subsequent tranches within 280 days from the date of announcement.