Date: 2014-09-03
Type of information: Fundraising
Company: 4SC AG (Germany)
Investors: Yorkville Advisors LLC (USA)
Amount: €500,000.00
Funding type: fundraising
Planned used: 4SC will use the proceeds for the further preparation of a planned clinical Phase II study with resminostat in the liver cancer indication.
Others: * On September 3, 2014, 4SC AG announced that it successfully completed the issuance of convertible notes with a nominal amount of €500,000.00. These convertible notes constitute the second tranche of a total issuance of up to €15 million guaranteed by an agreement between YA Global Master SPV Ltd. (\"Yorkville\") and the Company, as announced in February 2014. Prior to this, a first tranche of convertible notes issued in March 2014 of nominally €500,000.00 was completely converted into shares. Following the successful conversion of previously issued tranches, 4SC\'s Management will decide independently on a case-by-case basis whether additional tranches will be issued. Excluding the pre-emptive rights of existing shareholders, the convertible notes will be issued exclusively to Yorkville at a subscription price corresponding to 95% of the nominal amount. The notes carry no interest,have a term of nine month and may be converted into shares of 4SC by the holder of the notes at any time. The conversion price equals the volume weighted average trading price of 4SC shares during a five-day period prior to the time of conversion, less a 5% discount, but it cannot be lower than € 1.00.
Therapeutic area:
