THERANEXUS ANNOUNCES ITS CASH POSITION AS OF 30 JUNE 2020 AND
IMPLEMENTATION OF A MANDATORY CONVERTIBLE BOND FACILITY
• Pro forma cash of €13.3 M at 30 June 2020
• Implementation of financing for a maximum total of €4.2 million over 12 months through the issuance of warrants to subscribe mandatory convertible bonds redeemable in new shares (“MCB”)
Lyon, 9 July 2020 – Theranexus, a biopharmaceutical company innovating in the treatment of neurological diseases and pioneer in the development of drug candidates modulating the interaction between neurons and glial cells, today announces pro forma cash of €13.3 M at 30 June 2020 and, with the assistance of Kepler Cheuvreux, the implementation of a mandatory convertible bond (“MCB”) facility with Iris for a maximum amount of €4.2 M to support the company’s growth.
Theranexus Chairman and CEO, Franck Mouthon made the following comments: “Pro forma cash of €13.3 M at 30 June 2020 reflects the various initiatives undertaken in the second quarter to boost our non-dilutive funding sources. Today we are supplementing these resources with the implementation of a mandatory convertible bond facility to give us greater financial flexibility. The company thus has excellent financial visibility with regard to its rate of expenditure, at least for the next 18 months. The Company’s intention is to terminate this facility following the industrial agreement on THN102 that we wish to be put in place by late 2020.”