Press release from Companies
Publicerat: 2018-11-05 09:50:15
BrainCool AB (publ) ("BrainCool" and the "Company") has signed an amendment agreement relating to the investment agreement entered into on 22 November 2017 with European Select Growth Opportunities Fund (the "Investor") and draws down a third tranche of SEK 5 million under the investment agreement.
BrainCool entered into on 22 November 2017 an investment agreement with the Investor (the "Agreement"). On 4 November 2018, BrainCool and the Investor signed an amendment agreement relating to the Agreement (the “Amendment Agreement") providing inter alia: i) the date of issuance of a next tranche; and ii) the 6-month anniversary of the date of registration of the convertible notes (the “Notes”) of the applicable tranche for which the issuance of warrants has been postponed, unless otherwise agreed between the Investor and BrainCool. On the same evening, 4 November 2018, BrainCool’s board of directors decided (i) to draw down the third tranche of SEK 5 million pursuant to the Agreement, as amended, and (ii) to issue the Notes under this third tranche. The Investor and the Company have agreed that the warrants related to this third tranche of SEK 5 million of Notes will be postponed to a later tranche in accordance with the Amendment Agreement. Such issuance is implemented within the limitations of the authorization from the shareholders’ meeting held on 4 May 2018. The capital received under this third tranche will continue to be used for BrainCool’s expanding operations in the US. Within business segment Pain Management, the capital will be allocated towards enhancing Cooral System applications for oral mucositis and neuropathy. Highlights about the third tranche: For terms and conditions of the Notes, please visit BrainCool"s website: http://www.braincool.se/investor-relations-2/ For more information Martin Waleij - CEO About BrainCool AB (publ) BrainCool AB (publ) is an innovative medical device company that develops, markets, and sells leading medical cooling systems for indications and areas with significant medical benefits within the healthcare sector. The company focuses on two business segments, Brain Cooling and Pain Management. BrainCool AB (publ) is based in Lund, Sweden, and its share is listed on Spotlight Stock Market.
+46 - 733 -93 70 76
E-mail: martin.waleij@braincool.se