ePrice S.p.A. ("ePrice" or the "Company") announces, regarding the Convertible Bond Loan with warrants (the "CBL"), as per the Investment Agreement concluded between the Company and Negma Group Investment Ltd ("Negma") on March 16, 2023, as subsequently amended (the "Investment Agreement"), that it has received a conversion request (the "Conversion") from Negma for a total of n.2 bonds, with a total value of Euro 20,000.00, to be deducted from the first two tranches.
The first two tranches consist of a total of n.161 bonds, with a total value of Euro 1,610,000. It should be noted that, as partial payment of the Commitment Fee, additional 32 bonds were issued for a value of Euro 320,000 during the first two tranches. Therefore, a total of 193 bonds were issued during the first two tranches.
Additionally, during the issuance of the second tranche as stated in the communication dated December 18, 2023, n.155 bonds were issued, with a total value of Euro 1,550,000 (considering that the bonds are subscribed at 98% of the nominal value), and Euro 1,150,000 was paid in cash, while the remaining amount of (i) Euro 200,000, related to the remaining portion of the Commitment Fee, and (ii) Euro 180,000, related to the compensation of a previous credit claimed by Negma, was settled through the issuance of a total of n.20 and n.18 bonds, respectively.
The number of shares subject to Conversion was determined in accordance with the provisions of the Investment Agreement, based on 94% of the lowest value obtainable from the VWAP of ePrice shares during the fifteen trading days prior to the date of the bond conversion request. The price thus determined amounts to Euro 0.0008 per share, resulting in the issuance of a total of n.25,000,000 shares to Negma, with regular enjoyment rights and the same rights and characteristics as the shares in circulation.
It should be noted that, with regard to the first two tranches of the CBL, a total of n.77 bonds, with a nominal amount of Euro 770,000.00, can still be issued out of a total of n.2,200 bonds resolved upon, with a total nominal amount of Euro 22,000,000. The attestation of the partial completion of the increase in share capital for the partial conversion of the CBL will be filed with the Milan Chamber of Commerce in accordance with the applicable laws and regulations.
As a result of the above, the nominal value of the share capital will increase by Euro 20,000.00 and the share capital will amount to Euro 8,309,234.98, while the total number of Company shares will be 269,004,920 shares.
(NEWS Traderlink)