Amsterdam, The Netherlands – 16 February 2018
As of today, EUR 5,010,000 of notes out of the total commitment amounting to EUR 9 million have been converted into shares and EUR 247,500 of warrants out of a total potential amount of EUR 4,050,000 have been exercised into shares by European Select Growth Op-portunities Fund (the “Investor”), therefore strengthening the Group’s equity.
The Investor confirms its continuation of support to the development of Esperite’s commer-cial activities and development of innovative technologies in the field of genetics and regen-erative medicine and Esperite’s strategy towards market development activities and has agreed to subscribe for a new tranche of EUR 250,000 today upon request of Esperite (the “15th Tranche”), although the conditions required under the financing agreement of up to EUR 13 million signed between Esperite and the Investor on March 8, 2017 (the “Agree-ment”) are not currently met, in consideration for an additional commitment fee to waive such conditions.
The Group expects to issue a total of EUR 500,000 of principal amount of notes with war-rants attached before March 2, 2018. The 15th Tranche is issued pursuant to a request from Esperite dated February 15, 2018 to issue up to EUR 500,000 in two tranches of EUR 250,000 principal amount each (the “15th and 16th Tranches”) between today and March 2, 2018. The commitment of the Investor to subscribe to the 16th Tranche is subject to the fact that there will be EUR 100,000 or less of notes outstanding on this date.
The 15th Tranche is a private placement of 25 convertible notes with a principal amount of EUR 10,000 each, with 222,772 warrants attached. The notes and the warrants issued under the 16th, Tranche shall have the same characteristics as those described in the press re-lease dated March 8, 2017.
As from March 2, 2018 or as soon as the 16th Tranche will have been issued, unless agreed otherwise between Esperite and the Investor, the initial terms and conditions of the Agree-ment will prevail again, including in particular the conditions for the delivery of a request by
Esperite and the funding of a tranche by the Investor as described in the press release dated March 8, 2017.