Europlasma: drawing of a tranche of 200 OCEANE

(Boursier.com) — Europlasma specialist in treatment and hazardous waste, material recovery and decarbonization, announces that it has drawn the eleventh tranche of 200 OCEANEs, without BSA attached, for a nominal amount of one million euros.

The company recalls having announced by press release of March 23, 2023, the establishment of a bond loan with a maximum nominal amount of 15 ME over 3 years, by issuing bond certificates giving access to convertible bonds or exchangeable into new and/or existing shares with attached subscription warrants where applicable for the benefit of Environmental Performance Financing.

Dilutive impact of the issue

The issuance of 200 OCEANEs carried out today could give rise to the creation of 185,185,185 new shares based on a theoretical conversion price of 0.0054 euros, i.e. 100% of the lowest average daily price weighted by volumes of the ordinary share over the 15 consecutive trading days immediately preceding that day’s drawing.
The participation of a shareholder holding 1% of the company’s capital to date could thus amount to 0.62%.

Liquidity and funding horizon risk

On the date of the last Half-Year Financial Report, the company carried out a specific review of its liquidity risk and estimates that with the use of the 15 tranches of 1 ME of this bond financing line, in the hypothesis of issue of all OCEANEs issued under the 15 tranches, it is able to finance the activities and investments of its subsidiary Les Forges de Tarbes until March 31, 2026.
In addition, the Group recalls that the credit line of a maximum amount of 14.4 ME allows it to cover financing needs and investments for its other activities (processing, waste recovery and decarbonization) until June 30, 2024.

Legal framework

The main characteristics of the Issue Warrants, OCEANEs and BSAs, the risks and dilutive impact linked to the issuance of these securities as well as the destination of the funds from subscriptions are detailed in the press release of March 23 2023. The Company recalls that 8,426,966 BSAs were attached to the 200 OCEANEs issued under the first tranche.
A monitoring table for Bonds, OCEANEs and BSAs is available on the company’s website, “Investors” page, “Our financial publications and regulated information” section, “information on capital” tab.