(Boursier.com) — Archos announces the signing, on March 7, of an amendment no. 4 to the flexible bond financing contract by issuing warrants giving access to tranches of bonds convertible into new shares with a nominal value of 10,000 euros each (OCA) , the 4th OCA tranche being accompanied by equity warrants (BSA), concluded on March 17, 2021 with the investment fund YA II PN, Ltd represented by Yorkville Advisors Global LP, as well as the drawing of the 5th slice of OCA.
The resumption of drawdowns of OCA tranches takes place in a context where the Group is still suffering operating losses which impact cash. The Group is also actively analyzing external growth files requiring the availability of funds.
Under the terms of the contract, the financing was previously broken down into a first financing commitment for a total maximum nominal amount of €12 million, fully issued to date, followed by a second financing commitment for a total maximum nominal amount of 13 ME, i.e. a total maximum nominal amount equal to 25 ME.
Under Amendment No. 4, the Initial Commitment is supplemented by 13 additional tranches available within the framework of the initial commitment, including a tranche 5 for a nominal amount of 500 kE drawn down on 7 March. The nominal amount of each of the following 12 tranches of the initial commitment would be 250 kEthus bringing the total nominal amount of the initial commitment to €15.5 million.
Furthermore, the nominal amount of each of the tranches of the additional commitment is maintained at 1 ME with the exception of the last tranche of OCA, which will be for a nominal amount of 500 kE.
The total maximum nominal amount of financing provided for in the contract remains 25 ME insofar as amendment no. 4 provides that the additional commitment no longer relates to more than €9.5 million in total maximum nominal amount.
The next tranches remaining to be drawn are numbered from 6 to 17. The draws are scheduled over the period from April 3, 2023 to March 1, 2024.
However, under Amendment No. 4, Archos and Yorkville Advisors Global LP have agreed to extend the term of the contract for an additional 36 months, i.e. until March 17, 2027…
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