By Abigail W. Adams
Portland, Me., Dec. 30 – Spineway launched the first subscription tranche of 800 warrants exercisable for 800 or €2 million 0% convertible bonds due 2020 with a par value €2,500 each, according to a company news release.
The second tranche of 740 warrants for a minimum of 740 bonds or €1.85 million in convertible bonds will take place by March 31, 2020.
Spineway’s board of directors and shareholders approved a total issue of 16,000 warrants for €40 million or 16,000 bonds.
Negma Group Ltd. will be paid a commitment fee and compensation for the issue with Spineway given the option of paying in cash or by issuing an additional €1.45 million or 580 convertible bonds.
Proceeds will be used to finance equity investment plans and support its strategies.
Spineway is a Strasbourg, France-based maker of implants and surgical instruments for the treatment of spinal disorders.
| Issuer: | Spineway
|
| Securities: | Warrants for 0% convertible bonds due 2020
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| Amount: | 800 warrants or €2 million
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| Announcement date: | Dec. 30
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