Epigenomics AG places maximum number of mandatory convertible bonds with a total volume of EUR 16.5 million

On September 13, 2021 Epigenomics AG (Frankfurt Prime Standard: ECX, OTCQX: EPGNY; the "Company") reported that it has successfully completed the placement of the subordinated non-interest-bearing mandatory convertible bond, which the Company’s Executive Board had resolved to issue with the approval of the Supervisory Board (Press release, Epigenomics, SEP 13, 2021, View Source [SID1234587593]). The maximum volume of the mandatory convertible bond was placed in the aggregate principal amount of EUR 16,500,000.00. The mandatory convertible bond consists of 165,000 notes, which – subject to adjustments of the conversion price due to anti-dilution clauses – are convertible into 15,000,000 registered no-par value shares of the Company. Further details of the transaction were announced in the corporate news dated August 24, 2021. The gross proceeds from the issuance of the mandatory convertible bond amount to EUR 16,500,000.00.

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As announced in the ad-hoc announcements of June 11, 2021, and August 20, 2021, the issuance of the mandatory convertible bond was secured by a back-stop agreement with Deutsche Balaton Aktiengesellschaft. In connection with this back-stop agreement, Deutsche Balaton has subscribed for notes in the aggregate principal amount of EUR 2,717,800.00.

Epigenomics AG plans to use the proceeds from the issuance of the mandatory convertible bond to finance its operations, in particular the further development of the blood-based colorectal cancer screening test Epi proColon Next-Gen. For this purpose, the Company plans to conduct a clinical study in the U.S.A., which is required to obtain approval for the test by the U.S. Food and Drug Administration (FDA).

The full terms and conditions of the mandatory convertible bond are available on Epigenomics AG’s website at View Source