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BRIEF-Casta Diva Group signs investment agreement with Bracknor Investment
June 29, 2017 / 7:36 AM / in 6 months

BRIEF-Casta Diva Group signs investment agreement with Bracknor Investment

June 29 (Reuters) - CASTA DIVA GROUP SPA:

* ANNOUNCED ON WEDNESDAY IT SIGNED INVESTMENT AGREEMENT WITH BRACKNOR INVESTMENT FOR THE ISSUANCE OF CONVERTIBLE BONDS WITH WARRANTS FOR TOTAL VALUE OF 4.5 MILLION EUROS

* BRACKNOR WILL SUBSCRIBE IN 14 TRANCHES AND ONLY BASED ON CASTA DIVA GROUP SPECIFIC REQUESTS TO MAXIMUM OF 450 CONVERTIBLE BONDS WITH WARRANTS OF NOMINAL VALUE OF 10,000 PER BOND

* FIRST FOUR TRANCHES WILL BE COMPOSED OF 40 BONDS EACH (TOTAL VALUE OF 450,000 EUROS), AND REMAINING 10 TRANCHES OF 29 BONDS EACH (TOTAL VALUE OF 290,000 EUROS)

* SUBSCRIPTION PRICE OF EACH TRANCHE TO BE SET AT 95 PCT OF NOMINAL VALUE OF THE ISSUED BONDS

* EACH TRANCHE OF BONDS WILL CARRY WARRANTS, IN THE AMOUNT OF, IN CASE OF THEIR FULL EXERCISE, OF 50 PCT OF NOMINAL VALUE OF UNDERLYING BONDS

* EACH WARRANT WILL OFFER SUBSCRIPTION RIGHT TO ONE NEW SHARE OF THE COMPANY

* THE BONDS ARE NON-INTEREST BEARING, WILL LAST FOR 12 MONTHS, COMPANY WILL HAVE RIGHT TO CONVERT BONDS AUTOMATICALLY TO SHARES IN THE EVENT OF NON-REPAYMENT REQUEST

* ISSUANCE PERIOD SET FOR 36 MONTHS FROM THE ISSUE OF THE FIRST TRANCHE

* CONTRACT PROVIDES THAT COMPANY WILL PAY BRACKNOR COMMISION OF 130,000 EUROS ISSUED IN FORM OF ADDITIONAL BONDS WITHOUT WARRANTS

* BANCA FINNAT EURAMERICA SPA WILL ACT AS GLOBAL COORDINATOR AND BOOK RUNNER

Source text: reut.rs/2s46b9a

Further company coverage: (Gdynia Newsroom)

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