Evolva signs a CHF 12 million investment with Swiss company Nice & Green to fund future growth
Evolva (SIX:EVE), the Swiss biotech company, today announced that it has entered into an agreement for the issuance and subscription of convertible notes with Nice & Green, an independent Swiss company specialized in corporate financing.
In consideration for the issuance of convertible notes Nice & Green has committed to invest at certain conditions up to a maximum principal amount of CHF 12 million over a period of 12 months. The principal amount of each convertible note is, at Evolva’s discretion, either repayable by way of conversion into ordinary shares of the company, or in cash. The conversion price is 95 percent of the lowest daily volume weighted average price for a share on the SIX Swiss Exchange during the 6 trading days immediately preceding the conversion.
The convertible notes facility will be used to finance investments in connection with the expansion of Evolva’s business and may be drawn in tranches depending on the operational requirements and the opportunities for investments to continue to grow its business.
« The agreement provides Evolva access to flexible financing at a reasonable cost. As previously communicated, the company is creating financial flexibility to secure its financing needs and further grow its operations worldwide” commented Chief Executive Officer, Oliver Walker.
About Nice & Green SA
Nice & Green SA is an independent Swiss Proprietay Equity Investment and Alternative Financing company who helps small and mid-sized listed companies to secure funding needed for their growth. Nice & Green is owned and managed by two principals and capitalizes on establishing long term financial partnership with the companies it assists.
Find out more at nicengreen.ch.
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, wellbeing and sensory enjoyment.
Find out more at evolva.com.
Disclaimer
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.
Contact Information
Barbara Duci
Head of Investor and Corporate Relations +41 61 485 2003
+41 79 739 2636
barbarad@evolva.com