Europlasma, an expert in pollution control solutions, drew down a tranche of 100 bonds convertible into new shares to be issued by the Company (the “OCAs”), corresponding to tranche 33, representing a total nominal amount of bond of 1 million euros, within the framework of the issue agreement (the “Agreement”) of 10,000 issue warrants (the “Issue Warrants”) of OCA with attached stock warrants where applicable (the “BSAs” and, together with the OCAs, the “OCABSAs”) concluded between Europlasma and Global Corporate Finance Opportunities 11 (“GCFO 11”) on April 16, 2021. This financing program, for a maximum amount of 100 M € over 7 years, must be used, for 75%, to finance new value-generating projects.
The funds from this draw will notably finance the biennial refurbishment of the vitrification furnace for asbestos waste.
In addition, with the aim of desensitizing itself to the energy market in the winter period, the Group has accelerated:
– its supply of raw materials
– certain production rates.
Thus, the consequences of the winter energy increase will be contained and should not compromise the economic model of the entities concerned and their customers. However, as evidenced by the slowdown in OCA drawdowns, this acceleration has not increased the Group’s financing needs.