Mithra Pharmaceuticals SA Announces Extension of Capital Commitment Agreement with LDA Capital for Two Years and Increase of Commitment by €25 Million
Privileged information / Regulated information
Mithra Announces Extension of Capital Commitment Agreement with LDA
Capital of two years and increase in the commitment of 25 million euros
Liège, Belgium, April 18, 2022 – 7:30 a.m. CEST – Mithra Pharmaceuticals SA (Euronext Brussels: MITRA) (“Mithras“ or the “Company“), a company dedicated to women’s healthtoday announces the extension of the capital commitment agreement with LDA Capital Limited (“Capital ADL“) for a period of two additional years, as well as the increase in the amount of the commitment by 25 million euros.
Under the original agreement reached in April 20201LDA Capital has committed an amount of up to 50 million euros (the “Capital Commitment”) in cash within a maximum period of three years in exchange for new ordinary shares of Mithra. This capital commitment can be released depending on withdrawals made by Mithra in the form of put options which Mithra has the right to exercise at its sole discretion. Since the signing of the agreement, Mithra has issued three put option notices for a total amount of approximately 17 million euros. With this extension and the additional €25 million, the Company can now count on funds of up to approximately €58 million, available until April 2025.
Under the terms of the Initial Agreement and in consideration for its entering into, (i) in July 2020, 690,000 subscription rights were issued to LDA Capital (the “LDA subscription rights“), and (ii) in September 2020, 300,000 subscription rights were jointly issued in favor of François Fornieri, Alychlo NV, and Noshaq SA (together, the “Share Loan Subscription Rights“)2. As a result of the extension of the capital commitment agreement, and subject to the approval of an Extraordinary General Meeting of shareholders of the Company convened at the same time as the Ordinary General Meeting of shareholders of the Company or on a date Subsequently, the conditions of the LDA subscription rights and the subscription rights for the lending of shares will also be extended for two additional years. No new subscription rights were issued.
Christophe Maréchal, CFO Mithra Women’s Health, commentsD: “We are pleased to have concluded this extension with LDA Capital, which demonstrates their full confidence in Mithra and the potential of our medium and long-term projects. During this period marked by various world events impacting the financial markets and thus limiting access to various financing, the extension and increase of this facility allows us to have flexible solutions allowing us to finance our expansion projects.“.
For more information please contact:
Privileged information / Regulated information
Mithra (Euronext: MITRA) is a Belgian biotech company dedicated to transforming women’s health by providing new choices through innovation, with a particular focus on contraception and menopause. Mithra’s goal is to develop products with better efficacy, safety and convenience, meeting the needs of womends throughout their lifetime. Mithra explores the potential of the unique native estrogen, estetrol, in a wide range of applications in women’s health and beyond. After successfully launching the first estetrol product in 2021, the contraceptive pill Estelle®Mithra is now focusing on its second product Donesta®, the next generation hormone therapy. Mithra also develops and manufactures complex therapies in the fields of contraception, menopause and hormone-dependent cancers. It offers its partners a full range of research, development and specialized manufacturing on its Mithra CDMO technology platform. Active in more than 100 countries around the world, Mithra employs approximately 300 people and is headquartered in Liège, Belgium. www.mithra.com
The contents of this announcement include statements that are, or may be deemed to be, “forward-looking statements.” These forward-looking statements can be identified by the use of forward-looking terminology, including the words “believes”, “estimates”, “anticipates”, “expects”, “intends”, “may”. , “will”, “plans”, “continue”, “ongoing”, “potential”, “predict”, “project”, “target”, “seek” or “should”, and include statements made by the Company regarding the anticipated results of its strategy. By their nature, forward-looking statements involve risks and uncertainties, and readers are cautioned that such forward-looking statements are not guarantees of future performance. The Company’s actual results may differ materially from those predicted by the forward-looking statements.The Company undertakes no obligation to publicly update or revise any forward-looking statements, except as required by law.
Subscribe to our mailing list at investors.mithra.com to receive our press releases by email or follow us on our social networks:
LinkedIn • Twitter • Facebook