Genomic Vision is a publicly-traded company on the Euronext regulated market in Paris
GENOMIC VISION OPTIMIZES THE TERMS OF ITS OCABSA (CONVERTIBLE NOTES WITH WARRANTS) FINANCING LINE TO OBTAIN GREATER FLEXIBILITY WITHIN THE FRAMEWORK OF ITS DEVELOPMENT
Immediate issuance of a new €1.0 million tranche of OCABSA
Bagneux (France), December 20, 2017 – Genomic Vision (FR0011799907 – GV), a company specialized in the development of diagnostic tests for the early detection of cancers and genetic diseases and for life sciences research (LSR) applications, announces that it has renegotiated, in favor of its growth prospects, the terms of its OCABSA Notes with Warrants financing implemented with Bracknor Fund Ltd. on March 29, 2017.
As indicated in its press release on March 29, 2017, Genomic Vision had, in accordance with the issuance contract, issued 20 OCABSA warrants (“Notes Warrants”, or “BEOCABSA”) to the benefit of Bracknor Fund Ltd., 15 of which still remained to be exercised for a nominal total of 7.5 million euros. Readers are reminded that Genomic Vision had the possibility of asking Bracknor Fund Ltd. to exercise the remaining 15 Notes Warrants by tranches of 500,000 euros per 30-trading day period, subject to certain conditions, during the 24 months following the issuance of the Notes Warrants, i.e. until March 28, 2019.
In order to have a greater financial flexibility, the Company has renegotiated the terms of this financing to enable the request of, solely upon its initiative and subject to certain conditions unchanged, the exercise of the 15 remaining Notes Warrants to allow the issuance of OCABSA Notes with Warrants by tranches of 1,000,000 euros per 40-trading day period. Within this framework, the Company today issued a new tranche of Notes with Warrants for 1.0 million euros.
Frédéric Tarbouriech, CFO of Genomic Vision, says: “This increase in the size of the tranches gives us greater flexibility for the upcoming 12 months while improving the liquidity of our stock. Its flexible nature will enable us to meet our resources requirements as our different projects progress on both the life sciences research market, with the marketing of our replication analysis offer to the pharmaceutical industry, the quality control offer for genome editing, and the in-vitro diagnostics market. Furthermore, we are continuing to look into different options to diversify our financing sources in order to extend our financial visibility.”
Aboudi Gassam, Chairman of Bracknor Capital Ltd and manager of the Bracknor Fund Ltd. fund, adds: “We are delighted to have supported Genomic Vision’s growth in the last months while helping increase the liquidity of the Company’s stock to the benefit of its shareholders. Being able to provide even greater flexibility is important in our relationship, our objective being to thus contribute to the Company’s long-term success.”
ABOUT GENOMIC VISION
GENOMIC VISION is a company specialized in the development of diagnostic solutions for the early detection of cancers and serious genetic diseases and tools for life sciences research. Through the DNA Molecular Combing, a strong proprietary technology allowing the identification of genetic abnormalities, GENOMIC VISION supports the R&D productivity of pharmaceutical companies, leaders in the diagnostic industry and research labs.
The Company develops a strong portfolio of diagnostic tests (breast and colorectal cancers, myopathies) and analysis tools (DNA replication, biomarkers discovery, gene editing quality control). Based in Bagneux, near Paris, the Company employs approximately 60 people. GENOMIC VISION is a public company listed on compartment C of Euronext’s regulated market in Paris (Euronext: GV – ISIN: FR0011799907). For further information, please visit www.genomicvision.com
Co-founder, Chairman & CEO
Tel.: +33 1 49 08 07 50
Tel.: +33 1 81 70 96 30
Dušan Orešanský / Emmanuel Huynh
Tel.: +33 1 44 71 94 92
Member of CAC® Mid & Small and CAC® All-Tradable indexes
FORWARD LOOKING STATEMENT
This press release contains implicitly or explicitly certain forward-looking statements concerning Genomic Vision and its business.
Such forward-looking statements are based on assumptions that Genomic Vision considers to be reasonable. However, there can be no assurance that such forward-looking statements will be verified, which statements are subject to numerous risks, including the risks set forth in the “Risk Factors” section in its Document de Reference filed with the French Autorité des Marchés Financiers (AMF) on March 28, 2017, under number R.17-009, available on the web site of Genomic Vision (www.genomicvision.com) and to the development of economic conditions, financial markets and the markets in which Genomic Vision operates. The forward-looking statements contained in this press release are also subject to risks not yet known to Genomic Vision or not currently considered material by Genomic Vision. The occurrence of all or part of such risks could cause actual results, financial conditions, performance or achievements of Genomic Vision to be materially different from such forward-looking statements.
This press release and the information contained herein do not constitute and should not be construed as an offer or an invitation to sell or subscribe, or the solicitation of any order or invitation to purchase or subscribe for Genomic Vision shares in any country. The distribution of this press release in certain countries may be a breach of applicable laws. The persons in possession of this press release must inquire about any local restrictions and comply with these restrictions.