Oxurion Issues EUR 2.8 million in Bonds for Tranche 1 (A) of Funding Program with Atlas Special Opportunities LL
21 March 2023 - 10:18AM
Leuven, BELGIUM, Boston, MA, US
– March
20, 2023
– 11:30 pm CET –
Oxurion NV (Euronext Brussels: OXUR) a biopharmaceutical company
developing next generation standard of care ophthalmic therapies,
with clinical stage assets in vascular retinal disorders, has
announced the completion of Tranche 1 (A) of funding under the
Subscription agreement with Atlas Special Opportunities LLC. On
March 14, 2023, the Company issued 112 convertible bonds to Atlas
totaling EUR 2,800,000, including EUR 800,000 in bonds for the
transaction commission.
Under the terms of the Subscription Agreement,
Atlas has committed to subscribe to up to EUR 20.8 million in
mandatorily convertible bonds over a 24-month period at Oxurion’s
discretion. The conversion price is set at an eight percent
discount to the average VWAP over the three lowest days in the ten
consecutive trading days prior to the conversion notice.
Tom Graney, CEO of Oxurion,
said: “We appreciate Atlas’s financial support as we move
forward in recruiting the final 25% of patients for the Phase 2,
Part B KALAHARI trial evaluating Oxurion’s THR-149 for treating the
up to 50% of patients with diabetic macular edema (DME) for whom
the current standard of care is suboptimal. Following our recent
update on our recruitment progress with this trial, we look forward
to potentially to demonstrate the efficacy of our therapy in
addressing this large unmet need.”
Important information
about forward-looking statements
Certain statements in this press release may be
considered “forward-looking”. Such forward-looking statements are
based on current expectations, and, accordingly, entail and are
influenced by various risks and uncertainties. The Company
therefore cannot provide any assurance that such forward-looking
statements will materialize and does not assume any obligation to
update or revise any forward-looking statement, whether as a result
of new information, future events, or any other reason. Additional
information concerning risks and uncertainties affecting the
business and other factors that could cause actual results to
differ materially from any forward-looking statement is contained
in the Company’s Annual Report. This press release does not
constitute an offer or invitation for the sale or purchase of
securities or assets of Oxurion in any jurisdiction. No securities
of Oxurion may be offered or sold within the United States without
registration under the U.S. Securities Act of 1933, as amended, or
in compliance with an exemption therefrom, and in accordance with
any applicable U.S. state securities laws.
For further information please
contact:
Oxurion NVTom GraneyChief Executive OfficerTel: +32 16 75 13
10tom.graney@oxurion.com Michael DillenChief Business
OfficerTel: +32 16 75 13 10michael.dillen@oxurion.com |
USConway CommunicationsMary T.
Conwaymtconway@conwaycommsir.com ICR
WestwickeChristopher BrinzeyTel: +1 617 835
9304Chris.Brinzey@westwicke.com |
- OXUR Part A First Tranche Atlas.032023.FINAL
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