Genomic Vision Announces the Issuance of the 3rd Tranche of Convertible Notes With Warrants (OCABSA) for €2 Million, as Part of the Financing Line Concluded With Winance for a Maximum Amount of €30 Million
23 Juin 2023 - 6:00PM
Business Wire
Regulatory News:
Genomic Vision (FR0011799907 – GV, – the “Company”)
(Paris:GV), a Euronext-listed biotechnology company that develops
products and services for the highly accurate characterization of
DNA sequences, today announces the issuance of the third tranche of
convertible notes with equity warrants attached (OCABSA) for a
total net amount of €1.92 million.
In a press release dated May 20, 2022, the Company announced the
signing of a contract with Winance on April 11, 2022 as modified on
May 18, 2022 to setting up a financing line by issuing convertible
bonds (the “OC”) into ordinary shares to each of which will
be attached a share subscription warrant (the “BSA” and
together with the shares to which they are attached the
“ABSA” and with the OC the “OCABSA”), for a maximum
total amount of €28.8 million (€30 million nominal value). The
extraordinary shareholders meeting of the Company held on May 23,
2022 approved the implementation of this financing line.
Terms of the operation
By using the delegation granted by the extraordinary
shareholders meeting on May 23, 2022, Genomic Vision’s Executive
Board decided, on June 23, 2023, to issue 2,000,000 convertible
bonds with warrants (OCABSA) with a nominal value of €2 million for
the benefit of Winance (the “Investor”) for a total net amount of
€1.92 million, as well as 525,000 bonds convertible into shares
delivered in payment of the second quarter of the Investor's
commitment fee. The OCABSA were paid up in several installments,
the last part of which was paid on June 23, 2023.
The gross proceeds of the transaction will therefore be €2
million and the net proceeds €1.92 million.
The main terms of this financing program structured in 15
tranches of OCABSA totaling €28.8 million are described in the
prospectus approved by the Autorité des Marchés Financiers (AMF) on
May 20, 2022 under no. 22-170, consisting of the universal
registration document filed on April 14, 2022 under number
D.22-0293, the amendment to the universal registration document
filed on May 20, 2022 under number D.22-0293-A01, a transaction
note and a summary, available at the Company's registered office
(80-84 Rue des Meuniers, 92220 Bagneux), on the Company's website
(www.genomicvision.com) and on that of the AMF
(www.amf-france.org).
The company also confirms its intention to pursue its
investments program in order to achieve its strategic plan and will
therefore proceed shortly with the drawing of a new tranche of
financing by issuing 2,000,000 convertible notes with warrants
(OCABSA) which will be subscribed by the Investor subject to the
fulfillment of the conditions provided for in the financing
program.
Upcoming financial publications
- 2023 half-year results: Thursday, June 29, 2023
(pre-market)
- Q3 2023 Revenue: Tuesday, November 14, 2023
ABOUT GENOMIC VISION
GENOMIC VISION is a biotechnology company that develops products
and services for the highly accurate characterization of genome
modifications. We deliver high-quality integrated genomic analysis
solutions to improve quality control and bioproduction standards of
advanced gene therapies at scale. Based on molecular combing
technology and artificial intelligence, The Company provides robust
quantitative measurements needed for high confidence
characterization of transformed cell lines and prediction of cell
line performance, in particular in the context of the
biomanufacturing processes of cell and gene therapies. Genomic
Vision’s molecular combing technology has further applications in
drug development of agents targeting DNA replication and damage
response mechanisms, visualizing DNA replication kinetics and
telomere length maintenance. Genomic Vision, based near Paris in
Bagneux, is a public company listed in compartment C of Euronext’s
regulated market in Paris (Euronext: GV – ISIN: FR0011799907).
For further information, please visit www.genomicvision.com
Member of the CAC® Mid & Small and CAC®
All-Tradable indexes
FORWARD LOOKING STATEMENT
This press release contains implicitly or explicitly certain
forward-looking statements concerning Genomic Vision and its
business. Such forward-looking statements are based on assumptions
that Genomic Vision considers to be reasonable. However, there can
be no assurance that such forward-looking statements will be
verified, which statements are subject to numerous risks, including
the risks set forth in the “Risk Factors” section of the universal
registration document filed with the AMF on April 28, 2023 under
number D.23-0383, available on the web site of Genomic Vision
(www.genomicvision.com) and to the development of economic
conditions, financial markets and the markets in which Genomic
Vision operates. The forward-looking statements contained in this
press release are also subject to risks not yet known to Genomic
Vision or not currently considered material by Genomic Vision. The
occurrence of all or part of such risks could cause actual results,
financial conditions, performance or achievements of Genomic Vision
to be materially different from such forward-looking
statements.
This press release and the information contained herein do not
constitute and should not be construed as an offer or an invitation
to sell or subscribe, or the solicitation of any order or
invitation to purchase or subscribe for Genomic Vision shares in
any country. The distribution of this press release in certain
countries may be a breach of applicable laws. The persons in
possession of this press release must inquire about any local
restrictions and comply with these restrictions.
Genomic Vision has set up a financing line in the form of
convertible notes with warrants (OCABSA) with its Financing
partner.
The shares resulting from the conversion or exercise of the
aforementioned securities will, in general, be sold on the market,
which could create downward pressure on the share price as well as
a dilution.
Shareholders could therefore suffer a loss of their invested
capital due to a significant decrease in the value of the company's
shares. The company has carried out several dilutive financing
operations, and investors are advised to be very careful before
making a decision to invest in the company's securities.
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version on businesswire.com: https://www.businesswire.com/news/home/20230623441083/en/
Genomic Vision Aaron Bensimon Chairman of the Management
Board Tel.: +33 1 49 08 07 51 investisseurs@genomicvision.com
Ulysse Communication Press Relations Bruno Arabian
Tel.: +33 1 42 68 29 70 barabian@ulysse-communication.com
NewCap Investor Relations & Strategic
Communications Tel.: +33 1 44 71 94 94 gv@newcap.eu
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