Sensorion SA (ENXTPA:ALSEN) announced that it has signed a letter of intent for private placement of 2,941,176 common shares at a price of €1.70 for gross proceeds of €4,999,999.20 on December 14, 2020. The transaction will involve participation from new investor Sonova Holding AG (SWX:SOON) for 3.7% stake in the company. The share capital of the company will increase by €294,117.60.

The shares have a nominal value of €0.10 each. The company's total share capital will be €7,974,022.80 for 79,740,228 issued shares. Teh shares issued to the investor is also subject to a lock-up, subject to customary exceptions, until the later of sixty days as from the settlement of the transaction and the signature of a collaboration agreement between the company and investor and the investor under the letter of intent dated as of today, it being specified that, in any case, the lock up period will end no later than 90 days as from the settlement of the transaction.

The settlement of the transaction will occur on or before December 24, 2020.