Ikke mer innsikt enn det som fremgår av PM i mai - Hver 2. måned i fire år må Xbrane ta stilling til om de vil betale avdrag eller gi CVI aksjer til avtalt pris, som er 90 % av voumvektet gjennomsnittlig pris siste seks dager. Betaling av avdraget er default opsjon.
Får de noen av de nevnte deals på plass og/eller fart på salget de neste 6-12 mnd, bør vi forvente at de betaler lånet som forutsatt. Men vi må være forberedt på at de må/vil konvertere også de neste avdragene, neste avklaring kommer vel da i slutten av nov, deretter slutten av jan.
The Bonds
In connection with the Directed Share Issue, the Company has entered into a binding agreement with CVI Investments, Inc., an affiliate of Susquehanna International Group, LLP (the “ Investor ") for a convertible bond financing of SEK 250 million in aggregate principal amount, issued at an original issue discount, implying net proceeds of SEK 225 million. Key terms of the intended convertible bond financing include:
- Final maturity date four (4) years from closing.
- Interest rate of 6% per annum on the outstanding principal amount, payable every two-months. Upon formal approval by the United States Food and Drug Administration (FDA) of the Company’s application in connection with its investigational biosimilar candidate to LUCENTIS® (ranibizumab), the interest rate shall be reduced to 0% per annum.
- Amortization in twenty-four (24) equal instalments, payable every two (2) months after issuance. At the full discretion of the Company instalment payments can be made in cash at
- 100% of the applicable instalment amount or in shares at 90% of the market price (lowest VWAP during the six trading-day period immediately preceding the applicable date), with cash payments being the default payment option.
- The Investor has the right, on any number of occasions, to give notice to bring forward the payment date of up to two (2) amortization payments per interest period to any date at least three business days after delivery of such notice.
- The Investor may elect to convert the Bonds at any time during the term of the Bonds at a conversion price equal to 125% of the Offer Price.
https://xbrane.com/en/mfn_news/xbrane-has-carried-out-a-directed-share-issue-and-an-issue-of-convertible-bonds-raising-gross-proceeds-of-approximately-sek-350-million/
