BBS-Bioactive Bone Substitutes Plc: Conversion of convertible notes pursuant to financing arrangement between BBS-Bioactive Bone Substitutes Plc ja Riverfort Global Opportunities PCC Ltd
BBS-Bioactive Bone Substitutes Plc, Company announcement,19th November2021 14:30 pm
BBS-Bioactive Bone Substitutes Plc: Conversion of convertible notes pursuant to financing arrangement betweenBBS-Bioactive Bone Substitutes Plc jaRiverfortGlobalOpportunitiesPCC Ltd
The Board of Directors of BBS Bioactive Bone Substitutes Plc (the "Company") has, pursuant to the terms and conditions of the financing arrangement between the Company and Riverfort Global Opportunities PCC Ltd announced on September 30th 2021, approved the request of Riverfort Global Opportunities PCC Ltd to convert a proportion of EUR 250,000 of the convertible notes into Company shares at a conversion price of EUR 1,8656 per share. The Conversion price according to the terms and conditions is “90% of the lowest volume weighted average price of a trading day during ten trading days before the applicable subscription notice“.
The conversion shall be executed by transferring a total of 134.005 of treasury shares to Riverfort Global Opportunities PCC Ltd. After the transfer, the Company will hold a total of 243.636 treasury shares in its possession.
BBS Bioactive Bone Substitutes Plc announced 30th September it has entered an investment agreement for a capital facility with RiverFort Global Opportunities PCC Ltd. The investment agreement strengthens the Company's working capital position and support the Company's objective of submitting the CE marking application to the authorities.
For more information, please contact:
Ilkka Kangasniemi, CEO,+358 40 7080307,
Certified Advisor: Nordic Certified Adviser AB,+46 70 551 67 29,
DISTRIBUTION:Nasdaq Helsinki Oy
Nasdaq Stockholm AB
BBS-Bioactive Bone Substitutes is a health technology company that started operations in 2003. We have developed a new product for the treatment of severe bone fractures and lumber problems. Our goal is to provide a new generation of medical products for the treatment of bone damage in orthopaedic surgery. In the pharmaceutical sector, development and research requires perseverance and courage to develop new things. We have evidence of this for over 20 years. Our activities are characterised by top expertise, innovation and employees who are enthusiastic and committed to their work. The ARTEBONE ® in the final stages of product development, and we are looking for a CE marking that enables commercialisation in the EU. We are a company in Oulu with a pharmaceutical factory permit in Reisjärvi. More information: www.bbs-artebone.fi
BBS-Bioactive Bone Substitutes Oyj:n shares have been listed in Nasdaq First North Growth Market Finland and Nasdaq First North Growth Market Sweden.
© 2021 GlobeNewswire, Inc. All Rights Reserved.