Inside information - BBS-Bioactive Bone Substitutes Plc: Drawdown of an advance pursuant to financing arrangement between BBS-Bioactive Bone Substitutes Plc and RiverFort to strengthen the working capital position
BBS-Bioactive Bone Substitutes Plc, Company announcement, inside information, 21 February 2024 at 10:30 am EET
Drawdown of an advance pursuant to financing arrangement between BBS-Bioactive Bone Substitutes Plc and RiverFort to strengthen the working capital position
BBS-Bioactive Bone Substitutes Plc's (“BBS”, “the Company”) has signed the drawdown of the advance of EUR 500.000, pursuant to the terms and conditions of the Financing Agreement between BBS and RiverFort Global Opportunities Pcc Limited (“RiverFort”) signed and announced on September 30th 2021.
BBS settles the transaction fee of EUR 45,000 by the transfer of 74,915 treasury shares at the price of EUR 0.6007 per share. The reference price as agreed in the terms and conditions of the original agreement is the average of the daily VWAP for each the five consecutive trading day prior to the date of Advance (the “Reference Price”). Following the drawdown of the advance BBS will issue 416,195 warrants to RiverFort (with 0.8410 EUR subscription price (being 140% of the Reference Price) and a term of 48 months from grant).
After the transfers, BBS will have in total of 925 085 treasury shares.
For more information, please contact:
Juliusz Rakowski, CEO
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Certified Advisor:
Nordic Certified Adviser AB,
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BBS in brief
BBS -Bioactive Bone Substitutes Plc is a orthobiology company that started its operations in 2003. We have developed a new product for the treatment of complex bone fractures and bone healing issues. Our goal is to provide next-generation medical products for the treatment of bone injuries in orthopedic surgery. In the pharmaceutical industry, the development and research work require perseverance and courage to innovate. We have a track record of over 20 years in this field. Our company is characterized by expertise, innovation, and dedicated employees who are passionate about their work. Our first developed product, ARTEBONE® Paste, is in the final stages of the CE marking process to enable its commercialization in the EU market. We are based in Oulu with a medical manufacturing facility in Reisjärvi, holding a manufacturing license. The company's headquarters are in Oulu, and we employ over 20 people.
BBS has been listed on Nasdaq First North Growth Market Finland since February 2018.
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