DGAP-News: Marinomed to pause issuing of tranches of Convertible Notes Funding Program to Nice & Green
DGAP-News: Marinomed Biotech AG
/ Key word(s): Agreement
Marinomed to pause issuing of tranches of Convertible Notes Funding Program to Nice & Green
Korneuburg, Austria, 21 July 2022 – Marinomed Biotech AG (VSE:MARI), an Austrian science-based biotech company with globally marketed therapeutics, today announced that it has agreed with Nice & Green S.A. to currently not issue further tranches as part of the Convertible Notes Funding Program (CNFP) that the companies had entered on 04 October 2021. Marinomed believes that with the current situation at the stock markets and its stable financial position, it should reduce the dilutive impact on Marinomed‘s shareholders. Pascal Schmidt, CFO of Marinomed, commented: “As we are refining our strategy to unlock the potential of our validated platform technologies in new indications with high unmet medical needs, we appreciate the high degree of flexibility offered by the financing agreement with Nice & Green. With Nice & Green, we have a reliable partner and investor that is market-focused and respects our financing needs in the context of our current strategic objectives.” Benoit Villers, Managing Partner of Nice & Green said: “This right to suspend the financing program enables Marinomed to better adapt the funding plan to its cash flow forecasting and capital needs. We are pleased to bring more financial flexibility to Marinomed’s management team, and we will continuously support their short and long-term needs.” In addition to the CNFP, the agreement between the two companies includes a commitment by Nice & Green S.A to leverage its network of small- and mid-cap investors as both companies are committed to a productive and successful long-term partnership. About Nice & Green About Marinomed Biotech AG For further inquiries contact:
Disclaimer This press release contains forward-looking statements, which are based on current views, expectations and projections of the management of Marinomed Biotech AG about future events. These forward-looking statements are subject to risks, uncertainties and assumptions that could cause actual results, performance or events to differ materially from those described in, or expressed or implied by, such statements. The current views, expectations and projections of the management of Marinomed Biotech AG may be identified by the context of such statements or words such as “anticipate,” “believe”, “estimate”, “expect”, “intend”, “plan”, “project” and “target”. Forward-looking statements are only valid as of the date they are made and Marinomed Biotech AG does not assume any obligation to update, review or revise any forward-looking statements contained in this press release whether as a result of new information, future developments or otherwise. Marinomed, Marinosolv® and Carragelose® are registered trademarks of Marinomed Biotech AG. These trademarks may be owned or licensed in select locations only.
21.07.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | Marinomed Biotech AG |
Hovengasse 25 | |
2100 Korneuburg | |
Austria | |
Phone: | +43 2262 90300 |
Fax: | +43 2262 90300-500 |
E-mail: | [email protected] |
Internet: | www.marinomed.com |
ISIN: | ATMARINOMED6 |
WKN: | A2N9MM |
Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Stuttgart, Tradegate Exchange; Vienna Stock Exchange (Official Market) |
EQS News ID: | 1402423 |
End of News | DGAP News Service |
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1402423 21.07.2022
Marinomed Biotech AG Stock
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