BBS-Bioactive Bone Substitutes Plc, Company announcement, 22 May 2023 4:00 p.m.
BBS-Bioactive Bone Substitutes Plc: Conversion of convertible notes pursuant to financing arrangement between BBS and Riverfort Global Opportunities PCC Ltd
BBS-Bioactive Bone Substitutes Plc (“BBS” or the "Company") has received a request by Riverfort Global Opportunities PCC Ltd to convert a proportion of EUR 25,000 of the convertible notes into Company shares at a conversion price of EUR 0.755460 per share. The conversion will be done pursuant to the terms and conditions of the financing arrangement between the Company and Riverfort Global Opportunities PCC Ltd announced on 31 March 2023.
The Conversion price according to the terms and conditions is “90% of the lowest volume weighted average price of a trading day during ten trading days before the applicable subscription notice“.
The conversion shall be executed by transferring a total of 33,092 of treasury shares to Riverfort Global Opportunities PCC Ltd. After the transfer, the Company will hold a total of 392,128 treasury shares in its possession.
BBS announced on 31 March 2023 it had renewed an investment agreement for a capital facility with RiverFort Global Opportunities PCC Ltd. The investment agreement strengthened the Company's working capital position and supported the Company's objective of submitting the CE marking application to the authorities.
For more information, please contact:
Ilkka Kangasniemi, CEO,
+358 40 7080307,
Nordic Certified Adviser AB,
+46 70 551 67 29,
BBS in brief
BBS -Bioactive Bone Substitutes Plc is a orthobiology company that started its operations in 2003. We have developed a new product for the treatment of complex bone fractures and bone healing issues. Our goal is to provide next-generation medical products for the treatment of bone injuries in orthopedic surgery. In the pharmaceutical industry, the development and research work require perseverance and courage to innovate. We have a track record of over 20 years in this field. Our company is characterized by expertise, innovation, and dedicated employees who are passionate about their work. Our developed product, ARTEBONE®, is in the final stages of product development, and we are seeking the CE marking to enable its commercialization in the EU market. We are based in Oulu with a medical manufacturing facility in Reisjärvi, holding a manufacturing license. The company's headquarters are in Oulu, and we employ 20 people.
BBS has been listed on Nasdaq First North Growth Market Finland since February 2018.
More information: www.bbs-artebone.fi