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Fundraisings and IPOs

Date: 2017-07-03

Type of information: Financing round

Company: Sensorion (France)

Investors: Yorkville Advisors Global (USA)

Amount: up to €25 million

Funding type: financing round

Planned used:

  • This funding will be used to support the execution of the phase 2 programme for SENS-111 in the symptomatic treatment of bouts of vertigo and SENS-218 in preventing and treating lesions of the inner ear. It will also support Sensorion\'s international acitivities. The company will then be able to initiate discussions with the relevant health authorities in order to prepare Sensorion’s clinical development, notably in Europe and the United States.
  • Capital secured through the amendment of Sensorion existing convertible notes program will be used to support the ongoing Phase 2 trial of SENS-111 in acute unilateral vestibulopathy and the initiation of a Phase 2 study of SENS-401 in hearing disorders.

Others:

  • • On July 3, 2017, Sensorion announced that it has amended its existing convertible notes program under more favorable terms, including €10 million in committed funding, with Yorkville Advisors Global, a US investment manager. Yorkville has agreed to increase the maximum amount to be invested under two tranches and will provide a total of €10 million of funding to Sensorion through these two tranches of €5 million each and has agreed to renounce to benefit from the warrants attached to the convertible notes of these tranches. Yorkville has exercised on June 30th, 2017, at Sensorion’s request, 500 tranche warrants resulting in the issuance of €5 million of convertible notes. The second tranche may be requested by Sensorion no later than December 19, 2017.
  • • On November 19, 2015, Sensorion announced the set up of a new financing through the issuance of convertible notes with share subscription warrants attached fully subscribed by a fund managed by US investment manager Yorkville Advisors Global, allowing a maximum potential funding of €20 million (plus €5 million if all warrants are exercised). The company has issued 1,500 warrants giving access to convertible notes  with share subscription warrants attached , of which 300 Tranche Warrants have been exercised, at its request, resulting in the issuance of a first tranche of €3 million of Notes With Warrants. The possibility to issue an additional batch of 500 Tranche Warrants will be presented for approval at the next Shareholder’s meeting. The remaining 1,200 Tranche Warrants (together with the potential additional Tranche Warrants to be authorized) enable the issuance, over the next 36 months, in several successive tranches that will be issued at the Company’s sole discretion (subject to the fulfillment of certain conditions) of a total nominal amount of €17 million. Altogether, taking into account the additional Tranche Warrants, the maximum issuance could thus reach €25 million.

Therapeutic area: Otorhinolaryngology

Is general: Yes