Evolva and Nice & Green agree on improvements to financing agreement 13.09.2023, 07:00 Uhr von EQS News Jetzt kommentieren: 0

PRESS RELEASE | AD HOC ANNOUNCEMENT PURSUANT TO ART. 53 LR

Evolva and Nice & Green agree on improvements to financing agreement

Reinach, 13 September 2023 — Evolva (SIX: EVE), a pioneer in the field of natural molecules and industrial biotech, agreed with its financing partner Nice & Green SA on changes to its financing arrangement, with Nice & Green waiving the drawdown condition of the share price not falling below CHF 1.40.

On 26 June 2023, Evolva communicated that it had signed a new financing agreement with its financing partner Nice & Green SA, enabling Evolva to draw at least CHF 5.25 million until the end of 2023 against the issuance of convertible notes. This was conditional upon the shareholders approving the increase of the conditional capital at the extraordinary general meeting (EGM) of 24 August 2023 and upon the VWAP of an Evolva share not being equal or lower than CHF 1.40 (in which case Nice & Green was entitled to suspend the agreement). As communicated on 24 August 2023, the shareholders approved the increase of the conditional capital at the EGM.

Nice & Green now approached Evolva to propose a different disbursement schedule of the CHF 5.25 million for the next months. Thanks to its successful cash management, Evolva has less cash needs than originally forecasted when the new financing agreement was signed in June. This enabled Evolva to agree to the different disbursement schedule requested by Nice & Green. In return, Nice & Green has irrevocably waived the drawdown condition of the share price not falling below CHF 1.40.

The CHF 5.25 million available under the financing arrangement secure Evolva’s financing needs until at least the end of this year, giving the company sufficient flexibility to find an alternative financing solution as part of the currently ongoing comprehensive strategic review (which includes the sale of the company).
 

Contact
Doris Rudischhauser
Head of Investor Relations and Corporate Communications
+41 79 410 81 88
dorisr@evolva.com
 

About Evolva
Evolva is a Swiss biotech company focused on the research, development and commercialization of ingredients based on nature. We have leading businesses in Flavors and Fragrances, Health Ingredients and Health Protection. Evolva’s employees, half of which are women, are dedicated to make the best products that can contribute to health, wellness and sustainability. Find out more at evolva.com and connect with us on LinkedIn.
 

Disclaimer
This announcement is not an offer of securities into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and may not be offered, pledged, sold, delivered or otherwise transferred, directly or indirectly, in the United States, except pursuant to an exemption from, or transaction not subject to, the registration requirements of the Securities Act. No public offering of securities is being made in the United States. Further, the securities referred to herein have not been and will not be registered under the applicable securities laws of Canada, Australia or Japan or under the applicable securities laws of any other jurisdiction where to do so might constitute a violation of such laws.             
This press release contains specific forward-looking statements, e.g. statements including terms like believe, assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicitly or implicitly presumed in these statements. Against the background of these uncertainties readers should not place undue reliance on forward-looking statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.