Bifogade filer
Magnasense AB calls for partial payment of Tranche 3 of SEK 2.50 million from Atlas Special Opportunities, LLC
Prenumeration
Beskrivning
| Land | Sverige |
|---|---|
| Lista | First North Stockholm |
| Sektor | Hälsovård |
| Industri | Bioteknik |
On 9 April 2024, Magnasense AB (“Magnasense” or the “Company”) announced that the Company had entered into a conditional loan facility agreement with Atlas Special Opportunities, LLC (“Atlas”) under which the Company can call for loans in seven (7) tranches (“Tranches” or each a “Tranche”) in an aggregate nominal amount of SEK 45.00 million before deduction of set-up fee (the “Loan Facility”) and transaction costs. Magnasense has previously called for Tranches 1 and 2 in accordance with press releases issued by the Company. Today, the Company has called for partial payment of Tranche 3 amounting to SEK 2.50 million before deduction of set-up fee and transaction costs. Consequently, SEK 7.50 million remains of Tranche 3 for the Company to call on, before deduction of set-up fee and transaction costs. The Loan Facility accelerates the Company’s grant-funded RADx® project under the auspices of the National Institutes of Health (“NIH”) aimed at developing a digital multiplex self-testing platform for individuals with disabilities. A successful execution of the Company’s RADx® project will position the Company for potential additional grants from the NIH.
The Loan Facility
The loan facility consists of seven (7) tranches with a total nominal amount of SEK 45.00 million. Magnasense has today called for partial payment of Tranche 3 corresponding to SEK 2.50 million before deduction of a set-up fee of SEK 0.25 million and transaction costs. Consequently, SEK 7.50 million remains of Tranche 3 for the Company to call on, before deduction of set-up fee and transaction costs. According to the Loan Facility, the Company is entitled to call for all or part of Tranche 3 and 4 to the extent that the total, but not converted, outstanding amount of the Loan Facility and the outstanding convertible bonds of series 2023/2026 (excluding shares related to the transaction fee for the Loan Facility) is less than SEK 52.50 million. Tranches drawn under the Loan Facility are interest-free and mature on 9 April 2027.
Atlas has the right to call for conversion of debt in directed issues of all or part of the nominal amount of the called Tranches and the outstanding transaction fee up to and including the maturity date. The minimum amount to convert is SEK 0.50 million. To facilitate the administration of the conversions, the parties have agreed that a new issue under the Loan Facility shall be made when Atlas has called for conversion in an aggregate amount of at least SEK 2.50 million or if the market value of the transaction fee shares is less than SEK 1.00 million. The Company will only announce conversions to the market when Atlas has called for conversions that lead to a new share issue.
For more information on the Loan Facility, readers are referred to the press release dated 9 April 2024 (“AegirBio enters into a conditional agreement on a MSEK 45 loan facility with Atlas Special Opportunities and an agreement to amend the outstanding convertible bonds, subject to EGM approval”).
For additional information, please contact:
Marco Witteveen, CEO
Email: ir@magnasense.com
The Company’s Certified Adviser is Eminova Fondkommission AB | adviser@eminova.se