(AOF) – Adocia announced the exercise by IPF Partners of part of its share subscription warrants (BSA), giving rise to the issue of 204,919 shares at a price of 2.44 euros per share, i.e. a total subscription price of approximately 500,000 euros. The biotech specializing in the development of protein and peptide formulations for the treatment of diabetes and other metabolic diseases recalls that these BSAs were issued to IPF in 2019 when a first loan agreement was signed, then in 2020 during the restructuring of the company’s debt.
These warrants give the right to subscribe to a number of ordinary shares of the company equal to 15% of the amount lent, i.e. 2,550,000 euros in total, divided by a price per share equal to 95% of the lowest price of issue of an ordinary share recorded during the exercise period of the BSA, i.e. to date 2.44 euros corresponding to 95% of the issue price of the shares issued upon conversion of bonds by Vester Finance in April 2023 .
On this basis, the balance of BSAs held by IPF Partners (after the exercise of the warrants above), exercisable until October 2026, currently gives the right to subscribe to 840,162 shares in return for payment to the company for a total amount of approximately 2,050,000 euros.
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