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Press Release

SPINEWAY : Early redemption of 44 ORNANE Notes End of bond financing by ORNANE


Posted on: 19 Sep 18

Press release                                                                                                                                    Ecully, 19 September 2018

Early redemption of 44 "ORNANE" Notes
End of bond financing (ORNANE)

Spineway, specialist in surgical implants and instruments for treating disorders of the spinal column (spine), announces the early redemption of 44 notes redeemable in cash and/or convertible into new and/or existing shares (the "Notes") and the end of the financing via issuance of Notes set up on 28 July 2017 with the YA II PN, LTD investment fund.

The diversification of Spineway's financing methods implemented as part of its strategic plan with the issuance of bonds convertible into new or existing shares (OCEANE) representing a maximum of €14.50M, resulted in the early redemption of the 44 Notes still in YA II PN, LTD's possession, for a total of 440 000 euros.

To this end, today Spineway redeemed 50% of the 44 Notes still in YA II PN, LTD's possession, i.e., €220 000. The remainder shall be paid end of October/early November 2018.

The early redemption of the Notes also results in the early termination of this agreement and therefore cancels the option for Spineway to trigger the final tranche of 100 Notes.

Finally, in order to protect the bearers of the 267 379 Warrants issued pursuant to the issuance of Notes with attached Warrants, the exercise ratio for said Warrants shall be adjusted as provided in the agreement.

This early redemption allows Spineway to clarify its financing methods and limit, in part, dilution. Thanks to solid financing via the issuance of OCEANE, Spineway will be able to implement its strategic plan and reorganize its US subsidiary and reposition its offer on its global markets.

SPINEWAY IS ELIGIBLE FOR THE PEA-PME (EQUITY SAVINGS PLANS FOR SMES)
Find out all about Spineway at www.spineway.com

Next communication: Half-year results for 2018 - 24 October 2018

This press release has been prepared in both English and French. In case of discrepancies, the French version shall prevail.

Spineway designs, manufactures and markets innovative implants and surgical instruments for treating severe disorders of the spinal column.
Spineway has an international network of over 50 independent distributors and 90% of its revenue comes from exports.
Spineway, which is eligible for investment through FCPIs (French unit trusts specializing in innovation), has received the OSEO Excellence award since 2011 and has won the Deloitte Fast 50 award (2011). Rhône Alpes INPI Patent Innovation Award (2013) - INPI Talent award (2015). ISIN: FR0011398874 - ALSPW

Contacts:

   
Investor relations
David Siegrist - CFO
Phone: +33 (0)4 72 77 01 52
finance.dsg@spineway.com

 
  Financial communication
Jérôme Gacoin / Solène Kennis
Phone: +33 (0)1 75 77 54 68
skennis@aelium.fr

Attachment

GlobeNewswire
globenewswire.com

Last updated on: 20/09/2018

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