Pixium Vision Announces Extension of Maturity Date of Outstanding Bonds Issued Under Previously Terminated Funding Agreement with ESGO
Paris, July 11, 2023
– 07:00 CET – Pixium Vision SA (Euronext Growth Paris – FR0011950641; Mnemo: ALPIX), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independently, announces today that it has negotiated a 6-month extension of the maturity date of the 125 bonds redeemable in cash and/or in new shares (the ”
ORNAN 2022
”), in circulation, representing an amount of 1.25 million euros. The new due date is January 13, 2024.
On February 13, 2023, Pixium Vision announced the termination of the financing agreement in the form of ORNAN 2022 concluded with ESGO on July 13, 2022, which could represent a maximum nominal amount of 30 million euros. On July 13, 2022, Pixium Vision issued a first tranche of 550 ORNANs for an amount of €5.5 million with a maturity date of one year. To date, 125 bonds representing an amount of 1.25 million euros remain in circulation and can be converted by ESGO or will have to be redeemed by Pixium Vision at their nominal value in the event that they are not converted by ESGO before their due date. Pixium Vision and ESGO have agreed to extend the maturity date of these bonds to January 13, 2024.
Lloyd Diamond, Managing Director of Pixium Vision, said:
“I am happy to announce that our financial partner ESGO continues to support us; We thank ESGO for continuing to support Pixium Vision despite the termination of our agreement. »
As indicated in previous press releases (link), Pixium Vision remains actively seeking financing solutions in order to achieve its strategic ambitions. The Company works closely with two investment banks mandated to support it in its search for financing on a global scale. The Company’s cash capacity is estimated to cover the period up to the end of September 2023.
About Pixium Vision
Pixium Vision
creates a world of bionic vision to allow those who have lost their sight to recover their visual perception and gain autonomy. Pixium Vision’s bionic vision systems are associated with surgery and a period of rehabilitation. The Prima System’s wireless photovoltaic subretinal micro-implant is in clinical testing in patients who initially lost sight due to retinal degeneration due to the dry form of age-related macular degeneration (dry AMD) . Pixium Vision works closely with academic partners and some of the most prestigious vision research institutions in the world, such as Stanford University in California, Institut de la Vision in Paris, Moorfields Eye Hospital in London , the Institute of Ocular Microsurgery (IMO) in Barcelona, the University hospital in Bonn and the UPMC in Pittsburgh (Pennsylvania, USA). The Company is EN ISO 13485 certified and has received the “Innovative Company” qualification from Bpifrance.
Forward-Looking Statements This press release contains forward-looking statements. Although the Company believes that its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For more information about the risks and uncertainties that could cause the Company’s actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the “Risk Factors” section. of the Company’s 2022 annual financial report and other documents that the Company files with the AMF, available on the AMF’s website (www.amf-france.org) or on the Company’s website.
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Attachment
2023-07-07- Pixium Vision PR ESGO – FR final July 10 2023 (8 pm)