BIOPHYTIS (EPA:ALBPS) - Biophytis announces the drawing of 2 new tranches of ORNANE under the 2020 Atlas Contract for €6 million

Transparency directive : regulatory news

04/10/2021 23:00

Press release

Biophytis announces the drawing of 2 new tranches of ORNANE under the 2020
                       Atlas Contract for EUR6 million

Paris (France), Cambridge (Massachusetts, U.S.), October 4th, 2021, 11:00 pm
CET - Biophytis SA (NasdaqCM: BPTS, Euronext Growth Paris: ALBPS), a
clinical-stage biotechnology company focused on the development of therapeutics
that slow the degenerative processes associated with aging and improving
functional outcomes for patients suffering from age- related diseases,
including severe respiratory failure in patients suffering from COVID-19, today
announces the issuance of 240 Bonds Redeemable in Cash and New and Existing
Shares (ORNANE) for a total amount of EUR6 million under its existing
convertible bond agreement with Atlas, a specialized investment fund based in
New York (United States) for EUR24 million (the "2020 Atlas Contract").

On April 7, 2020, Biophytis announced a convertible line of EUR24 million from
Atlas. The financing instrument allows the issuance of 960 ORNANE, at a par
value of EUR25,000 each. The EUR24 million total financing can be drawn by
Biophytis over the next 3 years, without obligation, through 8 successive
tranches of EUR3 million each. As of end of June 2021, 5 tranches have been
drawn, for a total of EUR15 million. After the drawing of the sixth and seventh
tranches for a total of EUR6 million, EUR3 million will remain in the current
instrument.

The Company will keep the shareholders informed of the exercise of the ORNANE
issue warrants and the subsequent conversions, through a summary table of issue
warrants, the ORNANE, and the number of shares in circulation, which will be
available on the Company website.

Remainder of the main characteristics of the 2020 Atlas ORNANE contract issued
The ORNANE do not bear interest and have a 24-month maturity from issuance. The
holder of ORNANE may request at any time to convert them during their maturity
period, and at that time the Company will be able to redeem the ORNANE in cash.
In case of cash redemption, the amount reimbursed will be limited to 115% of
the principal.

Number of securities and dilution (assumptions)
As of October 1st, based on 125 765 964 outstanding shares, at the conversion
on this day and a conversion price equal to 97% of the pricing period VWAP of
EUR0,67 dilution is reflected as follows:

Impact on a shareholder's 1% stake in the Company's
capital prior to the transaction                        Non diluted
Diluted

Before issuing of new ORNANE                               1,00 %        0,96 %

Upon conversion of the ORNANE from tranches 6 & 7
of Atlas: issuing of 9 222 843 additional shares           0,93 %        0,90 %

About BIOPHYTIS
Biophytis SA is a clinical-stage biotechnology company specialized in the
development of therapeutics that are aimed at slowing the degenerative
processes associated with aging and improving functional outcomes for patients
suffering from age-related diseases, including severe respiratory failure in
patients suffering from COVID-19. Sarconeos (BIO101), our leading drug
candidate, is a small molecule, administered orally, being developed as a
treatment for sarcopenia in a Phase 2 clinical trial in the United States and
Europe (SARA-INT). It is also being studied in a clinical two-part Phase 2-3
study (COVA) for the treatment of severe respiratory manifestations of COVID-19
in Europe, Latin America, and the US. A pediatric formulation of Sarconeos
(BIO101) is being developed for the treatment of Duchenne Muscular Dystrophy
(DMD). The company is based in Paris, France, and Cambridge, Massachusetts. The
company's ordinary shares are listed on Euronext Growth (Ticker: ALBPS -ISIN:
FR0012816825) and ADSs (American Depositary Shares) are listed on Nasdaq
Capital Market (Ticker BPTS - ISIN: US09076G1040). For more information visit
www.biophytis.com

Disclaimer
This press release contains forward-looking statements. Forward-looking
statements include all statements that are not historical facts. In some cases,
you can identify these forward- looking statements by the use of words such as
"outlook," "believes," "expects," "potential," "continues," "may," "will,"
"should," "could," "seeks," "predicts," "intends," "trends," "plans,"
"estimates," "anticipates" or the negative version of these words or other
comparable words. Such forward-looking statements are based on assumptions that
Biophytis considers to be reasonable. However, there can be no assurance that
the statements contained in such forward-looking statements will be verified,
which are subject to various risks and uncertainties. The forward-looking
statements contained in this press release are also subject to risks not yet
known to Biophytis or not currently considered material by Biophytis.
Accordingly, there are or will be important factors that could cause actual
outcomes or results to differ materially from those indicated in these
statements. Please also refer to the "Risk and uncertainties the Company is to
face" section from the Company's 2020 Annual Report available on BIOPHYTIS
website (www.biophytis.com) and as exposed in the "Risk Factors" section of
form 20-F as well as other forms filed with the SEC (Securities and Exchange
Commission, USA). We undertake no obligation to publicly update or review any
forward- looking statement, whether as a result of new information, future
developments or otherwise, except as required by law.

Biophytis Contact for Investor Relations
Evelyne Nguyen, CFO
Investors@biophytis.com

Media contact
Life Sci Advisors
Sophie Baumont
E: sophie@lifesciadvisors.com
T: +33 6 27 74 74 49

BIOPHYTIS's latest news

29/04/2024 07:00

BIOPHYTIS (EPA:ALBPS) - Biophytis announces the drawing of 2 new tranches of ORNANE under the 2020 Atlas Contract for €6 million

Transparency directive : regulatory news

BIOPHYTIS's latest news

Other stories