STENTYS Secures a Standby Equity Facility
May 14 2014 - 10:45AM
Business Wire
Regulatory News :
STENTYS (Paris:STNT) (FR0010949404 – STNT), a medical
technology company commercializing the world’s first and only
Self-Apposing® stent to treat acute myocardial
infarction (AMI), today announced that it has entered into a
Standby Equity Facility with Société Générale, exercisable by
tranches at STENTYS’ discretion, as authorized by the Shareholders’
Meeting of May 15, 2013.
At the request of STENTYS, Société Générale is committed to
subscribe to successive capital increases over the next 36 months,
within the global limit of 1,000,000 shares (i.e. 9.0% of the
shares currently outstanding).
Should the entire contingent equity line be drawn down, a
shareholder who currently owns 1% of the company’s share capital
would experience a reduction of his or her share ownership to
0.92%1.
For each tranche, the issue price will equal the volume weighted
average share price of the three trading days preceding the
effective date of purchase with a discount capped at 5%. This
discount allows Société Générale, who is not positioned as a
long-term shareholder in the Company, to purchase the shares
independently of capital market volatility.
STENTYS has no minimum drawdown obligation, and intends to use
this facility at it sole discretion if market conditions are
favorable and in the best interest of both the Company and its
shareholders.
“Thanks to this flexible and guaranteed tool, we are
strengthening our future development ability whilst limiting the
dilutive effect on our shareholders”, comments Gonzague Issenmann,
Chief Executive Officer and co-founder of STENTYS.
- Upcoming financial
publication
STENTYS expects to publish its revenues for the first half of
2014 on July 24, 2014, after market.
About the STENTYS Self-Apposing® StentThe
STENTYS Self-Apposing® Stent addresses the stent-sizing dilemma
that cardiologists are confronted with when treating heart attack
patients or patients with atypical artery anatomy. Its flexible,
self expanding design takes the shape of the patient’s unique
vessel anatomy and apposes to the irregular contours of a blood
vessel, in particular after an AMI as the vessel dilates and the
clot dissolves. It reduces the risk of malapposition and
complications associated with conventional stents in this setting.
The STENTYS Self-Apposing Stent has been marketed in Europe since
receiving CE Mark in 2010. The STENTYS Sirolimus-eluting stent is
expected to receive CE Mark in H2 2014.
About STENTYSSTENTYS is developing and commercializing
innovative solutions for the treatment of patients with acute
myocardial infarction (AMI, or heart attack) and complex coronary
artery disease. STENTYS’s Self-Apposing® Stents are designed to
adapt to vessels with ambiguous or fluctuating diameters,
particularly in the post-infarction phase, in order to prevent the
malapposition problems associated with conventional stents. In the
APPOSITION III clinical trial, STENTYS stents demonstrated a very
low one year mortality rate among 1,000 high-risk AMI patients when
compared to recent studies with conventional stents.More
information is available at www.stentys.com.
1 Based on 11,136,715 shares representing STENTYS share
capital
STENTYS is listed on Comp. B of the NYSE Euronext ParisISIN:
FR0010949404 – Ticker: STNT
STENTYSStanislas Piot, Tel.: +33 (0)1 44 53 99
42CFOstan.p@stentys.comorNewCap.Financial Communication /
Investor RelationsDusan Oresansky / Pierre Laurent, Tel.: +33 (0)1
44 71 94 93stentys@newcap.frorUS: MacDougall Biomedical
CommunicationsChristine Labaree or Hunter Marshall, Tel.: 650
339 7533stentys@macbiocom.com
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