Exiqon announces DKK 40 million Note issue to accelerate growth
Copenhagen, 2015-11-12 09:20 CET (GLOBE NEWSWIRE) -- Exiqon A/S, listed on Nasdaq Copenhagen (‘EXQ’), today announced the issue of a senior secured note in the amount of DKK 40 million (‘Note’). The Note is fully subscribed, subject to customary conditions, by Ture Invest AB, a Stockholm based direct lender and alternative credit investor, and will be sought to be admitted to trading on the First North Bond Market of NASDAQ Copenhagen A/S.
Proceeds from the Note will be used to further develop the company’s recently launched cloud platform for life science researchers: XploreRNA™, and to accelerate growth by expanding the company’s product offering within RNA analysis, in addition to general corporate purposes, including refinancing of current debt.
“This new financing will allow us to more rapidly capture the business potential of our XploreRNA™ cloud platform which holds the potential of becoming a leading e-commerce platform for researchers in our market. We now have funding to complete the company’s transition towards becoming the leading provider of customized solutions for RNA analysis by expanding our product offering for RNA analysis, including RNA sequencing,” said President and CEO, Dr. Lars Kongsbak.
The following key terms apply to the Note:
Term: 3 year with early redemption rights.
Type: Senior secured bullet loan.
Interest: Fixed rate of 9.25% p.a., payable quarterly.
Additional information
Lars Kongsbak, CEO, mobile phone: +45 4090 2101
Hans Henrik Chrois Christensen, CFO, mobile phone: +45 4090 2131
About Exiqon
Exiqon operates in two business areas: Exiqon Life Sciences, a leading provider of flexible solutions for RNA analysis. Exiqon’s research products are used by academia, biotech and pharmaceutical companies around the world to make groundbreaking discoveries about the correlation between gene activity and the development of cancer and other diseases. Exiqon Diagnostics collaborates with pharmaceutical and diagnostic companies to develop novel molecular diagnostic tests for early detection of diseases, which can help physicians make treatment decisions based on the tools developed by Exiqon Life Sciences. Exiqon is listed on NASDAQ in Copenhagen. For more information about us, please visit www.exiqon.com
Vedhæftede filer:
Announcement_13_2015_Note _issue.pdf