Esperite in €1million private placement
March 8, 2017Esperite N.V. has announced a €1 million private placement of 100 convertible notes with a principal amount of €10,000 each, with share subscription warrants attached.
The First Tranche Notes and Warrants are subscribed for by European Select Growth Opportunities Fund, a fund based in Australia (the “Investor“) and managed by L1 Capital Pty Ltd. The placement of the First Tranche Notes and Warrants is the first transaction launched under an issuance agreement entered into by Esperite with the Investor dated March 8 2017 (the “Issuance Agreement“).
Pursuant to the Issuance Agreement, the Investor has committed to subscribe for an additional amount of €8 million of convertible notes with share subscription warrants attached (the “Subsequent Tranche Notes and Warrants“) over the next 36 months, subject to the fulfilment of certain conditions, including shareholders` approval for the issuance of the Subsequent Tranche Notes and Warrants to the Investor.
The issuance of and subscription to the First Tranche Notes and Warrants and the Subsequent Tranche Notes and Warrants is structured through the issuance by Esperite to the Investor of tranche warrants (the “Tranche Warrants“).
