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.
- 12 September 2023: A request to convert a proportion of EUR 100,000 of the convertible notes at a conversion price of EUR 0.4014 per share. The conversion shall be executed by transferring a total of 249,128 treasury shares to Riverfort.
- 13 September 2023: A request to convert a proportion of EUR 65,798 of the convertible notes at a conversion price of EUR 0.40842 per share. The conversion shall be executed by transferring a total of 161,104 treasury shares to Riverfort.
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
GlobeNewswire is one of the world’s largest newswire distribution networks, specializing in the delivery of corporate press releases, financial disclosures and multimedia content to media, investors, and consumers worldwide.