Bioera S.p.A. ("Bioera" or the "Company") announces that on December 18, 2023, Golden Eagle Capital Advisors, Inc. ("GECA") subscribed to a portion of the third tranche (the "Tranche") of the convertible bond loan with warrants (the "Loan") as per the investment agreement entered into by the Company with GECA on July 28, 2022, as previously disclosed in the press release issued by the Company on August 5, 2022.
The Tranche, with a total value of EUR 500,000.00 and consisting of 50 bonds with a nominal value of EUR 10,000 each, convertible into ordinary shares of the Company with warrants, was subscribed to on December 18, 2023 for 8 bonds, representing a total value of EUR 80,000. Concurrently with the subscription to this portion of the Tranche, the Company issued to GECA 8 convertible bonds with a nominal value of EUR 10,000 each and 4,000,000 warrants.
As of today, there are still 42 bonds from the Tranche yet to be subscribed, with a total value of EUR 420,000, as well as an additional 15 tranches with a value of EUR 500,000 each, totaling EUR 7,920,000.
The resources resulting from the subscription of the aforementioned portion of the Tranche (amounting to EUR 80,000) will be used by the Company for its current operational needs, partially covering the Group's estimated net financial requirements of EUR 6.9 million for the twelve-month period following July 7, 2023 (the date of approval and publication of the Supplement to the Information Memorandum approved and published by the Company on February 13, 2023).
For the conditions of the Loan, please refer to the aforementioned press release issued by the Company on August 5, 2022, available on the Company's website www.bioera.it under Investor Relations > Press Releases.
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