BBS-Bioactive Bone Substitutes Plc: Conversion of convertible notes pursuant to financing arrangement between BBS and Riverfort Global Opportunities PCC Ltd
BBS-Bioactive Bone Substitutes Plc, Company announcement, 1 September 2023 at 3:00 p.m.
BBS-Bioactive Bone Substitutes Plc: Conversion of convertible notes pursuant to financing arrangement between BBS and Riverfort Global Opportunities PCC Ltd
BBS-Bioactive Bone Substitutes Plc (“BBS” or the "Company") has received a request by Riverfort Global Opportunities PCC Ltd to convert a proportion of EUR 75,000 of the convertible notes into Company shares at a conversion price of EUR 0.39222 per share.
The Conversion price according to the terms and conditions is “90% of the lowest volume weighted average price of a trading day during ten trading days before the applicable subscription notice“.
The conversion shall be executed in stages so that the Company will immediately transfer a total of 100,000 of treasury shares to Riverfort. Following the transfer, the Company will hold a total of 1,451 of treasury shares.
In addition, the Company's board of directors will make a decision on a share issue without consideration to the company itself, in accordance with authorisation from the Extraordinary Shareholders Meeting on 30 March, 2023. Following the share issue, the Company will transfer the remaining 91,219 treasury shares to Riverfort. The company will communicate this decision and transfer separately at a later date.
For more information, please contact:
Ilkka Kangasniemi, CEO,
+358 40 7080307,
[email protected]
Certified Advisor:
Nordic Certified Adviser AB,
+46 70 551 67 29,
[email protected]
BBS in brief
BBS-Bioactive Bone Substitutes Plc is a orthobiology company that started its operations in 2003. We have developed a new product for the treatment of complex bone fractures and bone healing issues. Our goal is to provide next-generation medical products for the treatment of bone injuries in orthopedic surgery. In the pharmaceutical industry, the development and research work require perseverance and courage to innovate. We have a track record of over 20 years in this field. Our company is characterized by expertise, innovation, and dedicated employees who are passionate about their work. Our developed product, ARTEBONE®, is in the final stages of product development, and we are seeking the CE marking to enable its commercialization in the EU market. We are based in Oulu with a medical manufacturing facility in Reisjärvi, holding a manufacturing license. The company's headquarters are in Oulu, and we employ 20 people.
BBS has been listed on Nasdaq First North Growth Market Finland since February 2018.
More information: www.bbs-artebone.fi
