BBS-Bioactive Bone Substitutes Plc, Company announcement, 15 September 2023 at 1:00 p.m.
BBS-Bioactive Bone Substitutes Plc: Conversion of convertible notes pursuant to financing arrangement between BBS and Riverfort Global Opportunities PCC Ltd
Conversion requests and prices
BBS-Bioactive Bone Substitutes Plc ("BBS") has received two new requests from Riverfort Global Opportunities PCC Ltd ("Riverfort") to convert convertible notes into Company shares.
In addition, the company has previously announced that it received a request from Riverfort on 1 September 2023 to convert a proportion of EUR 191,000 of the convertible notes at a conversion price of EUR 0.39222 per share. The transfer shall be executed by transferring a total of 191,219 treasury shares to Riverfort.
In all conversions, 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“.
Transfer of shares
As previously communicated (1 September 2023), the Company has transferred a total of 100,000 shares to Riverfort on 6 September 2023 related to the request received on 1 September 2023.
The remaining shares shall be transferred to Riverfort on 15 September 2023.
Following the transfers, the Company does not hold any treasury shares.
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