IDEX Biometrics issues a Convertible Bond to prepare for commercial ramp-up
07 Noviembre 2023 - 1:10AM
IDEX Biometrics issues a Convertible Bond to prepare for commercial
ramp-up
Oslo, Norway – 7 November 2023 – IDEX Biometrics (Idex or the
Company) has entered into a non-binding term sheet with a new
institutional investor group to issue a senior convertible bond for
up to 100 million NOK. The convertible bond structure is subject to
approval of the formal agreements and shareholder approval.
The convertible bond will be issued at a price of 92% of the
principal amount, and will be amortized over 3,5 years through
instalment every 2 months over the period. The instalment periods
may be altered during the amortizing period. Idex may choose
repayment between equity and cash for each instalment. Interest
rate is 6% pa. Conversion price will be at a premium to the stock
price at closing of the final agreements and any repayments by
issuance of shares will be at a discount to market price at each
instalment.
To approve the convertible bond, IDEX Biometrics will call for
an extraordinary meeting (EGM) on or about 30 November 2023 at
10:00 hours CET, held as an online meeting. The notice of the EGM
with attendance forms will be sent to the shareholders soonest. The
notice of the EGM will also be disclosed in a notice to the
market.
This information is subject to the disclosure requirements
pursuant to Section 5-12 the Norwegian Securities Trading Act
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