Cancellation of the issue of the 8th optional tranche of OCAs and signature of a support contract with Redbridge Debt and Treasury Advisory
AMOEBA: Cancellation of the issue of the 8th optional tranche of OCAs and signature of a support contract with Redbridge Debt and Treasury Advisory
Lyon (France), January 27, 2023 – 5h45 pm – AMOÉBA (FR0011051598 – ALMIB), producer of a biological biocide capable of eliminating bacterial risk in water and human wounds, and of a biocontrol product for plant protection, still in development phase, announces that it has terminated its convertible bond issue contract with Nice & Green SA and waived the issue of the 8th optional tranche of 80 OCAs as initially planned in the contract[i]. In order to adapt its financial strategy to its new industrial transformation challenges, Amoéba has concluded a contract with Redbridge Debt and Treasury Advisory to assist it in its search for financing.
As a reminder, Amoéba’s ambition is to build a production plant dedicated to biocontrol products, which could produce 40 tons of active substance per year, the equivalent of 100,000 hectares treated. This production site should be operational by early 2025 in order to start marketing its biocontrol products as soon as marketing authorisations are obtained in Europe and the United States. In order to finance this production site and to continue its operational and research activities over the next 3 years, the company estimates its total financial needs at €45 million. Amoéba has selected the independent advisory firm Redbridge Debt & Treasury Advisory to assist it in optimising its debt structure and putting in place the necessary financing.
This support should be carried out in 2 phases:
1) Search for the optimal financing strategy(ies) for Amoéba
2) Support in the structuring, promotion and execution of its financing operations until the 45 million euro envelope is obtained.
“Thanks to the financing received from Nice & Green over the last 3 years, Amoéba has been able to pursue its research and development efforts on the biocontrol application and is now entering a new phase of its industrial and commercial development. By relying on the experience of Redbridge Debt & Treasury Advisory, we hope to optimise our financing strategy and find the most suitable financing for our development“, says Fabrice PLASSON, Chairman and CEO of Amoéba.
[i] See press release of December 21, 2020