Poxel Announces the Implementation of an Equity Line With IRIS Capital as Part of the Execution of the Recovery Plan [Yahoo! Finance]
SUMITOMO CHEM UNSP/ADR (SOMMY)
NASDAQ:AMEX Investor Relations:
sumitomo-chem.co.jp/english/ir
Company Research
Source: Yahoo! Finance
POXEL SA (Euronext: POXEL - FR0012432516), a clinical stage biopharmaceutical company developing innovative treatments for chronic serious diseases with metabolic pathophysiology, including metabolic dysfunction-associated steatohepatitis (MASH) and rare metabolic disorders, announces the implementation of an equity line with IRIS, known as " SmartATM ® " for a maximum amount of €5 million over five years (terms set out in the Appendix without this amount being guaranteed). Nicolas Trouche, Chief Executive Officer of Poxel, comments " The establishment of this new equity line with IRIS is an important first step in enabling Poxel to secure the financial foundation necessary to implement its recovery plan. The Company's recovery is now actively underway. This financing is part of the restructuring of the bond debt held by IRIS against the Company for a total principal amount of €4,270,000 in the form of bonds redeemable in new or existing shares issued under the issuance agreement
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