Strengthening of its equity with the issue of Bonds Convertible into Shares
Objective: To finance its projects and the acceleration of its commercial development
Alpha MOS (Euronext Growth Paris, FR0013421286 ALM – ALNEO) specialist in sensory analysis solutions, world leader in the manufacture of electronic noses, tongues and eyes for industrial use
announces on December 8, 2022, the completion of a fundraising of €3 million.
This fundraising was carried out within the framework of a private placement of bonds convertible into shares (OCA) carried out with cancellation of the preferential subscription right with institutional investors, subscribed by seven funds managed by the investment company NEXTSTAGE AM. The conversion price of the bonds issued is set at €2.46, 7.89% higher than the price of €2.28 on December 8, 2022 post-closing. The Company thus limits the potential dilution of its shareholders and preserves its balance sheet while strengthening its investment capacity.
These new financial resources will enable Alpha MOS to strengthen its equity, finance its activity and intensify its commercial development.
Pierre SBABO, Chairman and CEO of ALPHA MOS indicates
“This financing agreement marks a new positive step for Alpha MOS and helps support the acceleration of our growth. We are delighted, through this operation, to welcome a new French institutional investor.”
EuroLand Corporate acted as Company Advisor in the context of this operation.
CHARACTERISTICS OF THE OPERATION
The Board of Directors, on the basis of the delegations granted by the 15
th
resolution voted at the Extraordinary General Meeting of June 30, 2022, decided to issue bonds convertible into shares with the following characteristics:
|
Total nominal amount | €2,999,999 | ||||||||||||||
|
Nominal value of bonds | €1 each. | ||||||||||||||
|
Number of bonds issued | 2,999,999, in 7 separate tranches | ||||||||||||||
|
Issue date | December 8, 2022 | ||||||||||||||
|
Due Dates |
| ||||||||||||||
|
Interest |
| ||||||||||||||
|
Conversion | The bondholder may request conversion at any time from the Issue Date. The Issuing Company may impose the conversion on the Bondholder from the dates of joint conversion below:
And if the following conditions are met:
| ||||||||||||||
|
Conversion Rate | The bonds will be converted into a total number “N” of ordinary shares, at the conversion price, ie €2.46 per share rounded down to the immediately lower number. | ||||||||||||||
|
Early redemption at the initiative of the Company | From June 30, 2024, the Company may prepay all or part of the bonds subject to 6 months’ notice. Repayment will be made at par plus the amount of accrued interest, the non-conversion premium and, if necessary, early repayment penalties. | ||||||||||||||
|
Early redemption at the initiative of bondholders, without default by the Company | Bondholders may request the early redemption of all or part of the bonds, subject to prior notification:
| ||||||||||||||
|
Early redemption at the initiative of bondholders, with default by the Company | Bondholders may request the early redemption of all or part of the bonds, subject to prior notification and according to the conditions relating to contractually mentioned obligations (early dissolution of the Issuing Company, cessation of its activity, etc. ). | ||||||||||||||
|
Non-conversion premium | Each bond that is not converted will benefit from a non-conversion premium of 4.00% per annum. | ||||||||||||||
|
New shares | The new shares resulting from the conversion of the bonds will be listed on the Euronext Growth market and will be assimilated to existing shares. |
IMPACT OF THE ISSUE ON CONSOLIDATED EQUITY PER SHARE:
For information, the impact of the issue of new shares on the share of equity per share (calculations made on the basis of consolidated equity as of June 30, 2022, i.e. -€2.84 million), would be as follows :
|
Share of equity per share (in euros) | ||
|
Undiluted basis |
Diluted basis* | |
Before issuance of new shares |
-0.279 |
0.025 |
After issuance of new shares |
0.014 |
0.259 |
*As of 06/30/2022, there are 1,273,637 stock options outstanding at a unit subscription price of €2.45. | ||
IMPACT OF THE OPERATION ON SHAREHOLDER OWNERSHIP:
For information, the theoretical impact of the issue and the conversion into new shares of the bonds on the participation in the capital of a shareholder holding 1% of the capital of the Company prior to the issue and not benefiting from it , would be:
|
Shareholder participation (in %) | ||
|
Undiluted basis |
Diluted basis* | |
Before issuance of new shares |
1.00% |
0.89% |
After issuance of new shares |
0.89% |
0.80% |
*As of 06/30/2022, there are 1,273,637 stock options outstanding at a unit subscription price of €2.45. | ||
RISK FACTORS
Investors are invited, before making their investment decision, to pay attention to the risks described in the report on the Company’s 2021 consolidated financial statements, available on the Alpha MOS website (section financial information / regulated information ). The risk factors at the date of this press release are identical to those presented in this report.
Completion of this transaction will enable the Company to meet its maturities over the next 12 months.
ABOUT ALPHA MOS
Alpha MOS (Euronext Growth Paris, FR0013421286 – ALNEO)
specialist in sensory analysis metrology, is the world leader in the manufacture of odor, taste and vision measuring devices for industrial use.
Founded in 1993, Alpha MOS is a global company based in France with subsidiaries in China and the United States. It has installed more than 1300 instruments worldwide, mainly for the food, beverage and packaging industry.
Alpha MOS continually invests in research and development to meet market needs and innovates to develop consumer sensory analysis markets.
For more information: Pierre SBABO – CEO of Alpha MOS – www.alpha-mos.com – 05 62 47 53 80
This post has the “? Actusnews SECURITY MASTER” service.
– SECURITY MASTER Key:
nG2bkpdqZJjFm2ttZZdtaZJnZ2pnk2DGZWeZk2SdlZvFZ3JjnJiVb8bIZnBomm5o
– To check this key:
https://www.security-master-key.com.
Regulated information:
Inside information:
– Other press releases
Full and original press release in PDF format:
https://www.actusnews.com/news/77592-2022-12-08-alpha-mos-cp-oca.pdf
© Copyright Actusnews Wire
Receive the company’s next press releases free of charge by email by subscribing to www.actusnews.com