Cellectis announces the drawdown of the second tranche of €15 million under the credit facility agreement entered with the European Investment Bank (EIB)
16 Enero 2024 - 3:30PM
Cellectis announces the drawdown of the second tranche of €15
million under the credit facility agreement entered with the
European Investment Bank (EIB)
Cellectis (Euronext Growth: ALCLS – NASDAQ: CLLS)
(the “Company”), a clinical-stage biotechnology company using
its pioneering gene-editing platform to develop life-saving cell
and gene therapies, today announced that it has drawn down the
second tranche of €15 million (“Tranche B”) under the credit
facility agreement for up to €40 million entered into with the
European Investment Bank (the “EIB) on December 28, 2022 (the
"Finance Contract"). Tranche B is expected to be disbursed by the
EIB by January 25, 2024. The Company plans to use the proceeds of
Tranche B towards the development of its pipeline of allogeneic CAR
T-cell product candidates: UCART22, UCART20x22, and UCART123.
As a condition to the disbursement of Tranche B
the Company issued 1,460,053 warrants to the benefit of the EIB, in
accordance with the terms of the 14th resolution of the
shareholders’ meeting held on June 27, 2023 and articles L. 228-91
and seq. of the French Commercial Code (the “Tranche B
Warrants”).
Each Tranche B Warrant allows the EIB to
subscribe for one ordinary share of the Company, at a price of
€2.53, corresponding to 99% of the volume-weighted average
price of the Company’s ordinary shares over the last 3 trading days
preceding the decision of the board of directors of the Company to
issue the Tranche B Warrants. The total number of shares issuable
upon exercise of the Tranche B Warrants represents circa 2% of the
Company’s outstanding share capital as at their issuance date.
Tranche B will mature six years from its
disbursement date and will accrue interest at a rate of 7% per
annum capitalized annually and payable at maturity.
The other terms of the Tranche B Warrants and
prepayment events of Tranche B under the Finance Contract are as
set forth in the Company’s press release of April 4, 2023 and Form
6-K filed with the U.S. Securities and Exchange Commission on such
date.
The Finance Agreement allows the Company to
drawdown a third tranche, of a maximum amount of €5 million,
subject to certain conditions, including issuance of a specified
number of additional warrants to the benefit of the EIB.
About CellectisCellectis is a
clinical-stage biotechnology company using its pioneering
gene-editing platform to develop life-saving cell and gene
therapies. Cellectis utilizes an allogeneic approach for CAR-T
immunotherapies in oncology, pioneering the concept of
off-the-shelf and ready-to-use gene-edited CAR T-cells to treat
cancer patients, and a platform to make therapeutic gene editing in
hemopoietic stem cells for various diseases. As a clinical-stage
biopharmaceutical company with over 23 years of experience and
expertise in gene editing, Cellectis is developing life-changing
product candidates utilizing TALEN®, its gene editing technology,
and PulseAgile, its pioneering electroporation system to harness
the power of the immune system in order to treat diseases with
unmet medical needs. Cellectis’ headquarters are in Paris, France,
with locations in New York, New York and Raleigh, North Carolina.
Cellectis is listed on the Nasdaq Global Market (ticker: CLLS) and
on Euronext Growth (ticker: ALCLS).
Cautionary StatementThis press
release contains “forward-looking” statements within the meaning of
applicable securities laws, including the Private Securities
Litigation Reform Act of 1995. Forward-looking statements may be
identified by words such as “expect,” “plan,” and “will,” or the
negative of these and similar expressions. These forward-looking
statements, which are based on our management’s current
expectations and assumptions and on information currently available
to management. Forward-looking statements include statements about
the satisfaction of additional conditions under the Finance
Contract, drawing of Tranches under the Finance Contract, potential
future financings and strategic transactions, advancement, timing
and progress of clinical trials (including with respect to patient
enrollment and follow-up), the issuance of EIB Warrants, and the
use of the proceeds of amounts received under the Finance Contract.
These forward-looking statements are made in light of information
currently available to us and are subject to numerous risks and
uncertainties, including with respect to the numerous risks
associated with market conditions, and our ability to satisfy the
conditions precedent under the Finance Contract. Furthermore, many
other important factors, including those described in our Annual
Report on Form 20-F as amended and in our annual financial report
(including the management report) for the year ended December 31,
2022 and subsequent filings Cellectis makes with the Securities
Exchange Commission from time to time, which are available on the
SEC’s website at www.sec.gov, as well as other known and unknown
risks and uncertainties may adversely affect such forward-looking
statements and cause our actual results, performance or
achievements to be materially different from those expressed or
implied by the forward-looking statements. Except as required by
law, we assume no obligation to update these forward-looking
statements publicly, or to update the reasons why actual results
could differ materially from those anticipated in the
forward-looking statements, even if new information becomes
available in the future.
For further information on Cellectis,
please contact:
Media contact:Patricia Sosa
Navarro, Chief of Staff to the CEO, +33 (0)7 76 77 46 93,
media@cellectis.com
Investor Relations
contacts:Arthur Stril, Chief Business Officer, +1 (347)
809 5980, investors@cellectis.comAshley R. Robinson, LifeSci
Advisors, +1 (617) 430 7577Bing C. Wang, Chief Financial Officer,
+1 (408) 515 8229
- 20240116_Cellectis_BEI_Tranche B_ENGLISH_PR
Cellectis Nom Eo 05 (EU:ALCLS)
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De May 2024 a Jun 2024
Cellectis Nom Eo 05 (EU:ALCLS)
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