BBS-Bioactive Bone Substitutes Plc has renewed a capital facility with RiverFort Global Opportunities PCC
BBS-Bioactive Bone Substitutes Plc, Company announcement, Inside information, 31 March 2023 at 7.45 p.m. (EEST)
BBS-Bioactive Bone Substitutes Plc has renewed a capital facility with RiverFort Global Opportunities PCC
BBS-Bioactive Bone Substitutes Plc (“BBS, “Company”) has today renewed the company's capital facility agreement announced on September 30, 2021 with Riverfort Global Opportunities PCC (“RiverFort”) and the maturity dates of repayment installments have been extended by one year. For the first installment the maturity date is 31 March 2024 (previously 31 March 2023) and for the second it is 22 August 2024 (previously 22 August 2024). Key commercial terms and conditions remain unchanged. The reference price on the outstanding amount is recalculated according to the agreement terms to be now EUR 1.008 per share. Consequently, the fixed conversion price shall be EUR 1.4113 per share.
The issuer shall issue 177,140 warrants to Riverfort with the exercise price of EUR 1.4113 per share and expiry date of March 2027.
RiverFort has decided to convert EUR 50,000 of the loan capital into BBS shares, and in addition, a contract renewal fee (5% of the loan capital, equal to EUR 25,000) will be settled in shares. Consequently, BBS issued RiverFort a total of 84,303 company shares at a price of EUR 0.8897 per share. After the transfers, BBS will hold 425,220 treasury shares.
"Our close cooperation with RiverFort continues, and the new arrangement strengthens our company's working capital and supports the company's goal of receiving the CE marking," says Ilkka Kangasniemi, CEO of BBS.
For more information, please contact:
Ilkka Kangasniemi, CEO, ,
Certified Advisor: Nordic Certified Adviser AB, 9,
BBS in brief
BBS-Bioactive Bone Substitutes Plc is a Finnish orthobiology company whose core competence is the development, commercialization and manufacture of easy-to-use bone implants that promote bone formation and healing. Bone substitutes, i.e. implants, are intended for the treatment of various bone damage, bone healing problems and bone diseases instead of autologous and bank bone grafts. BBS aims to become one of the leading players in the field of bioactive implants intended for bone healing problems. The company's head office is located in Oulu, and it employs 20 people.
BBS was founded in 2003, and the company has been listed on Nasdaq First North Growth Market Finland since February 2018.
More information: -artebone.fi
