(Boursier.com) — Pixium Vision SA announces the opening of a safeguard procedure by the Paris Commercial Court. Despite all efforts made in seeking financing, the company may not be able to meet its financial obligations after the end of November 2023 without placing itself under court protection.
Considering this liquidity risk over a 2-month horizonand the absence of new financing obtained to date, Pixium Vision has therefore requested the opening of a safeguard procedure with the Paris Commercial Court.
The Paris Commercial Court has appointed SCP Abitbol & Rousselet, represented by Joanna Rousselet and Selarl FHB, represented by Hélène Bourbouloux as co-administrators responsible for the supervision of Pixium Vision, and Selarl Asteren, represented by Julia Ruth as representative of creditors.
The Court opened an observation period of 6 months.
During this period, Pixium Vision and the receivers will work on possible restructuring solutions, including the search for potential candidates for the acquisition of all or part of the company’s assets as part of a divestment plan.
The market will be kept regularly informed of the progress of the procedure and, more generally, of the financial situation of Pixium Vision.
As of October 9, the company’s available cash flow amounts to 2.575 million euros, which provides a financing horizon until the end of December 2023. The company’s nominal level of debt amounts to at 9.203 ME.
Given the opening of this safeguard procedure, Pixium Vision is not able to finalize its financial statements for the first half within the deadlines previously indicated.
The company asked Euronext Paris for resumption of trading of its shares from the opening of the markets October 10.
Remember that the trading of Pixum Vision shares has been suspended since October 2, with a final price of 1.25 euros.