THERAMetrics

THERAMetrics holding AG announces that it has signed a binding term-sheet with Fin Posillipo S.p.A and Bootes S.r.L. for the issuance of convertible loan notes totaling CHF 3.3 million

The loan notes will be issued in four tranches, two at CHF 1,100,000 each in October and December 2015, and two at CHF 550,000 each in January and February 2016.

Tranches 2-4 are payable upon achievement of certain milestones of the recently approved restructuring plan.
All issued and outstanding loan tranches will be mandatorily convertible into shares of THERAMetrics holding AG in March 2016.

The loan notes will be executed, and the first tranche subscribed and paid, on or before October 31, 2015.

Raffaele Petrone, Chairman and CEO, states: “It is with great pleasure that we announce today this new financing agreement. In addition to fully solving our current liquidity crisis, we have also secured the funds needed to execute the Group’s new restructuring plan. The restructured THERAMetrics will be stream-lined and cost efficient, allowing for greater flexibility and maneuverability in the increasingly competitive world of today’s CRO industry.”

Mr. Petrone adds: “On behalf of our Board of Directors and Executive Committee, I would like to thank our customers, our service providers, and our employees for their patience and understanding during this recent crisis. With this new funding in place, we can now focus on what matters most: adding value to our customers and to our shareholders.”.

N.B. – The text does not bind the staff of LMFInternational. Only the companies, organizations and associations which sign the press release and which are clearly indicated in the title of the text, are responsible for its information and contents.