Salute e Benessere
Navamedic ASA: Amendments to loan agreements with Observe Medical ASA
Navamedic has agreed to the following amendments to the two loan agreements:
Navamedic has agreed to convert NOK 16,354,815.20 of Loan 1 into shares in Observe Medical ASA at a subscription price of NOK 0.40 per share, provided that Observe Medical completes its contemplated subsequent offering at a subscription price of NOK 0,40 with gross proceeds of at least NOK 1.500.000 . In total 40,887,038 new shares will be issued to Navamedic upon completion of the conversion.
Following the conversion, the outstanding balance, including interest, of Loan 1 will be approximately NOK 31,500,000 . The due date of Loan 1 will be postponed from January 31 , 2025 to December 31 , 2027, where interest payments will be made monthly from April 1, 2025 until December 31 , 2025, following which an amortization schedule commences, with both principal and interest payments being paid monthly and the remaining balance will fall due in full on December 31 , 2027. The interest rate and other terms on Loan 1 will remain unchanged.
Navamedic has further agreed to amend Loan 2 and postpone the due date until December 31 , 2027, with interest payments starting on April 1, 2025 and the remaining balance falling due in full at the due date. The interest rate and other terms on Loan 2 will remain unchanged.
In the event that Observe Medical's subsequent offering is not completed with a subscription price of NOK 0.40 with gross proceeds of minimum NOK 1.500.000 , the agreed amendments to the loan agreements including the agreed conversion of parts of Loan 1, will not be implemented.
Kathrine Gamborg Andreassen , CEO, Navamedic
Mobile: +47 951 78 680
E-mail: kathrine@navamedic.com
Lars Hjarrand, CFO, Navamedic
Mobile: +47 917 62 842
E-mail: lars.hjarrand@navamedic.com
This announcement contains information considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act. The announcement was published by Lars Hjarrand, CFO of Navamedic ASA, on 15 November 2024 at the time set out above.
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