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
|
Amount: | 800 warrants or €2 million
|
Announcement date: | Dec. 30
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.