. Further support of Esperite's strategy, commercial activities and development of innovative technologies in the field of genetics and regenerative medicines
Amsterdam, the Netherlands - 22 December 2017
As of today, EUR 4,030,000 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 4.05 million have been exercised into shares by European Select Growth Opportunities Fund (the "Investor"), therefore strengthening the Group's equity.
The Investor confirms its support to the development of Esperite's commercial activities and development of innovative technologies in the field of genetics and regenerative 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 "11th 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 "Agreement") are not currently met, in consideration for an additional commitment fee to waive such conditions.
The Group expects to issue a total of EUR 1 million of principal amount of notes with warrants attached before February 23, 2018. The 11th Tranche is issued pursuant to a request from Esperite dated December 21, 2017 to issue up to EUR 1 million in four tranches of EUR 250,000 principal amount each (the "11th, 12th, 13th and 14th Tranches") between today and respectively January 12, 2018, February 2, 2018 and February 23, 2018. The commitment of the Investor to subscribe each of the 12th, 13th and 14th Tranches is subject to the fact that there will be EUR 50,000 or less of notes outstanding on these three dates.
The 11th Tranche is a private placement of 25 convertible notes with a principal amount of EUR 10,000 each, with 206,043 warrants attached. The notes and the warrants issued under the 11th, 12th, 13th and 14th Tranches shall have the same characteristics as those described in the press release dated March 8, 2017.
As from February 23, 2018 or as soon as the 14th Tranche will have been issued, unless agreed otherwise between Esperite and the Investor, the initial terms and conditions of the Agreement 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.
Esperite EUR 0.492 +0,006ct vol. 164.251