{"id":4714,"date":"2023-02-15T08:40:29","date_gmt":"2023-02-15T07:40:29","guid":{"rendered":"https:\/\/amoeba-nature.com\/?p=4714"},"modified":"2023-02-15T08:40:30","modified_gmt":"2023-02-15T07:40:30","slug":"signature-of-a-new-financing-agreement-with-nice-green","status":"publish","type":"post","link":"https:\/\/amoeba-nature.com\/en\/signature-of-a-new-financing-agreement-with-nice-green\/","title":{"rendered":"Signature of a new financing agreement with Nice & Green"},"content":{"rendered":"
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AMOEBA signs a new \u20ac9 million simple bond financing agreement with Nice & Green <\/strong><\/h1>\n<\/div><\/div><\/div>\n\n
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Lyon (France), February 15, 2023 \u2013 8:30 a.m. – AMO\u00c9BA (FR0011051598 – ALMIB)<\/strong>, an industrial biotech in pre-commercialization* that is specialized in the treatment of microbiological risk, developing a biocontrol agent for the treatment of plants in agriculture and a biological biocide for the treatment of industrial water, announces the signature of a new simple bond financing agreement with the Swiss company Nice & Green SA. <\/strong><\/p>\n<\/div><\/div><\/div>\n\n

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As a reminder, Amo\u00e9ba’s industrial project for the construction of its biocontrol production site represents a cost of around 45 million euros (23 million in investments and 22 million in operational expenses) covering the period 2023-2025. <\/p>\n<\/div><\/div><\/div>\n\n

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On 27 January 2023, Amo\u00e9ba entered into a support agreement with Redbridge Debt and Treasury Advisory to assist it in its search for new financing (see press release of 27 January 2023). <\/p>\n<\/div><\/div><\/div>\n\n

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Pending the search for and the obtaining of the said financing, Nice & Green SA agrees to continue to support Amo\u00e9ba within the framework of a debt financing in the form of simple bonds with, as an exclusive guarantee of repayment, a commitment to issue warrants in the event of Amo\u00e9ba’s failure to repay the simple bonds (SBs) at their maturity. <\/p>\n<\/div><\/div><\/div>\n\n

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It is further agreed between the parties that Amo\u00e9ba may at any time redeem the outstanding SBs at their nominal value plus capitalised interest and terminate the contract without early redemption fee. <\/p>\n<\/div><\/div><\/div>\n\n

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This interim financing allows the company to start its industrial project immediately and to cover its expenses until December 2023. It is intended to be automatically reimbursed as soon as Redbridge Debt and Treasury Advisory has structured a financial contribution of more than \u20ac40M. <\/p>\n<\/div><\/div><\/div>\n\n

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Legal Framework : <\/strong><\/p>\n<\/div><\/div><\/div>\n\n

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Acting on the authority of the Board of Directors held on 13 February 2023 and in accordance with the provisions of Article L. 228-40 of the French Commercial Code in respect of the simple bonds and, in respect of the warrants, the 16th resolution of the Combined General Meeting of shareholders of 24 May 2022 relating to the authorisation to issue, with cancellation of the preferential subscription right, ordinary shares or any securities giving access to the share capital or to the allocation of debt securities in favour of categories of persons, the Company has signed on February 14 2023 a contract for the issuance of Simple Bonds (SBs) for a maximum nominal amount of \u20ac9,000,000, divided into three tranches of \u20ac3,000,000 each, the drawing of which is at the discretion of the Company. <\/p>\n<\/div><\/div><\/div>\n\n

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 Characteristics of Simple Bonds : <\/strong><\/p>\n<\/div><\/div><\/div>\n\n

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In accordance with the terms of the Contract, Nice & Green SA has undertaken, except in the case of the usual defaults, to subscribe to 300 SBs in three tranches, each comprising 100 SOs, according to the following schedule. <\/p>\n<\/div><\/div><\/div>\n\n

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Tranche <\/strong><\/td>Date of issue <\/strong><\/td>SB <\/strong><\/td><\/tr>
Tranche 1 <\/td>Between june 30 and august 31,2023 <\/td>1 \u00e0 100 <\/td><\/tr>
Tranche 2 <\/td>Between sepember 1st and november 30,2023 <\/td>101 \u00e0 200 <\/td><\/tr>
Tranche 3 <\/td>Between december 1st 2023 and Marche 1st 2024 <\/td>201 \u00e0 300 <\/td><\/tr><\/tbody><\/table><\/figure>\n<\/div><\/div><\/div>\n\n
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SBs have a nominal value of thirty thousand (30,000) euros each. They will be subscribed at a unit price equal to ninety-four percent (94%) of their nominal value, i.e. twenty-eight thousand (28,200) euros each. <\/p>\n<\/div><\/div><\/div>\n\n

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The contract does not provide for a commitment fee and no obligation on the part of Amo\u00e9ba to issue the agreed SBs. <\/p>\n<\/div><\/div><\/div>\n\n

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Each SB has a maturity of thirty (30) months from the date of issue. <\/p>\n<\/div><\/div><\/div>\n\n

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The SBs will bear interest at the 6-month EURIBOR rate on the date of each drawdown plus 600 basis points. <\/p>\n<\/div><\/div><\/div>\n\n

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Amo\u00e9ba will reimburse in cash the SBs from the expiry of a period of six months after the date of issue of each tranche on a straight-line basis through the payment of 8 quarterly instalments. <\/p>\n<\/div><\/div><\/div>\n\n

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Thus, the first repayment date for an amount of approximately EUR 430,000 (at the current EURIBOR rate) will be 31 March 2024 at the earliest. <\/p>\n<\/div><\/div><\/div>\n\n

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In the event of a total or partial default on a quarterly payment due by Amo\u00e9ba to Nice & Green SA, the lender will have the option of either pursuing an action for recovery of its bond debt or exercising its right to request the issuance of warrants, which will allow for the subscription of shares in the Company, the equivalent value of which will correspond to the lender’s bond debt. <\/p>\n<\/div><\/div><\/div>\n\n

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Risks associated with the operation : <\/strong><\/p>\n<\/div><\/div><\/div>\n\n

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