ERAGNY-SUR-OISE, France--(BUSINESS WIRE)--Regulatory News:
SAFE ORTHOPAEDICS (FR0012452746 – SAFOR) (Paris:SAFOR), a company offering innovative ranges of sterile implants combined with their single-use instruments for back surgery, announces the issuance, on September 29, 2016, of a new tranche of OCABSAYORKVILLE under the agreement dated April 27, 2016 with YA II CD, Ltd1, and amended on May 23, 20162.
This new tranche corresponds to 65 convertible notes with a nominal value of 10,000 euros each, representing a debt debenture of 650,000 euros, with attached warrants with an exercise price of 1.72 euros.
This new tranche of OCABSAYORKVILLE reinforces the cash position of Safe Orthopaedics.
335 OCABSAYORKVILLE may further be issued under the agreement with YA II CD, with a nominal value of 10,000 euros each, representing a total debt debenture of 3,350,000 euros.
Next Press Release: Q3 2016 revenue, October 13, 2016 (after market close)
About Safe Orthopaedics
Founded in 2010, Safe Orthopaedics is a French medical technology company that develops and markets an innovative range of sterile implants and associated single-use surgical instruments, with the aim of facilitating safer, optimized and lower-cost spinal surgery. By avoiding the reuse of surgical instruments, Safe Orthopaedics reduces the risk of infection, avoids the cumbersome and unreliable logistics of instrument sterilization, and limits hospital costs. Protected by 17 patent families, the SteriSpine™ Kits are CE-marked and FDA cleared. The company is based at Eragny-sur-Oise (France), and has 34 employees. For more information, visit: www.SafeOrtho.com
1 See the April 28, 2016 press release.
2 See the May 24, 2016 press release.