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Friday, July 17, 2020 4:06:28 PM
by Relief Therapeutics | Jul 16, 2020
Geneva (Switzerland), July 16, 2020
RELIEF THERAPEUTICS Holding SA (SIX:RLF) (“Relief” or the “Company“) announces that it has entered into a binding agreement (the “Agreement”) with Gem Global Yield Fund LLC (“GEM”), the largest single shareholder in RLF, relating to an outstanding debt position in a total amount of CHF 1’723’300 that is repayable on demand. Under the terms of this Agreement, RLF and GEM have agreed on the redemption of the outstanding CHF 1’723’300 debt position in newly issued RLF Shares.
The attribution price corresponds to CHF 0.0297, representing a 10% discount to the closing price of the trading of the RLF Shares on SIX Swiss Exchange on 14 July 2020 of CHF 0.033. As a result, GEM will be receiving receive 58’023’584 RLF Shares at closing of the transaction, issued from existing authorized capital of the company. Closing of the transaction is expected to occur by the end of July 2020.
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