Esperite N.V. (Euronext: ESP, “Esperite”) announces today a EUR 250,000 private placement of 25 convertible notes with a principal amount of EUR 10,000 each (the “Notes”), with 978,260 share subscription warrants attached with a strike price of EUR 0.115 (the “Warrants”). The Notes and Warrants were issued to European Select Growth Opportunities Fund, a fund based in Australia (the “Investor”).
The placement of the Notes and Warrants is the 26th tranche launched under the issuance agreement entered into by Esperite with the Investor on 8 March 2017 (the “Issuance Agreement”). The characteristics of the Notes and the Warrants are described in Esperite’s press release of 8 March 2017. The conversion price of the Notes may not be below the nominal value of the shares, i.e. EUR 0.10 currently. As of today, EUR 8,930,000 of Notes out of the total commitment of EUR 9 million have been issued to the Investor, leaving EUR 70,000 still available for issuance by Esperite.
As announced on 19 June 2018, Esperite has entered into a second issuance agreement with the Investor pursuant to which the Investor has committed to subscribe for an additional amount of up to EUR 5 million of convertible notes with share subscription warrants attached, subject to fulfilment of certain conditions (the “New Issuance Agreement”). The conditions are set out in the appendix to Esperite’s press release of 19 June 2018.