Peptonic to exercise loan option of 7.5 MSEK with Vidarstiftelsen
Stockholm, November 9, 2020 – Peptonic Medical AB (publ) (“Peptonic” or the “Company”) today announced that it has exercised the option to obtain a loan of 7.5 MSEK from Vidarstiftelsen according to an agreement as signed in May 2020.
According to the terms of the loan agreement, the loan shall be paid out upon the Company’s request during the period 1 November 2020 to 28 February 2021. The loan is subject to an annual interest of 7 percent, to be paid in cash on a monthly basis. The loan can be converted to shares in Peptonic upon request by either of Peptonic or Vidarstiftelsen at fixed conversion dates occurring after three, six, nine and twelve months from the date when the loan amount was made available to Peptonic. A potential conversion of the loan shall be carried out through a directed share issue to Vidarstiftelsen where payment for the new shares is made by way of set-off against the loan amount. The subscription price in the share issue shall be 85 percent of the volume weighted average price of Peptonic's share on Spotlight Stock Market during the ten trading days immediately preceding the request to convert the loan, i.e. with a discount of 15 percent. The loan shall be repaid no later than 31 October 2021, unless either party has requested conversion of the loan to shares before that.
- We are proud and grateful for the continued support and trust by Vidarstiftelsen for Peptonic’s business and future plans, says Mr Johan Inborr, CEO of Peptonic Medical.
For more information, please contact;
Johan Inborr, CEO
Mobile: +46 708 853 893
E-mail: johan.inborr@peptonicmedical.se
This information is information that Peptonic Medical AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 9th November, 2020.
About Vidarstiftelsen
Vidarstiftelsen is foundation with a mission to support the general public. The mission is to be fulfilled through grants given for e.g. scientific research, preparation of teaching and education, health care and hospital care, culture and environmental conservation. The income of the capital is to be used for the above mission.
About Peptonic Medical
Peptonic Medical is an innovative Swedish medical development company. Its vision is to offer safe and effective treatments and relief for women specific diseases and medical conditions, and products that contribute to increased sustainability and better quality of life.
VagiVital® is a registered trademark of Peptonic Medical. The product is hormone free and is being commercialised for the non-prescription use for the treatment of vaginal atrophy (VA) and vaginal dryness. The pipeline of Peptonic Medical also includes Vagitocin®, which is an oxytocin-based vaginal gel for the treatment of VA. This product candidate is in clinical development phase 2. The development of Vagitocin® is on hold pending additional data on i.a. the mechanism of action.
Since July 2014, the Peptonic Medical share has been traded on the Spotlight Stock Exchange (www.spotlightstockmarket.com, ticker: PMED) in Stockholm, Sweden.
For more information:www.peptonicmedical.com
About VagiVital®
VagiVital® is a patent pending hormone free self-care product for the treatment of vaginal atrophy and vaginal dryness. The product has been tested in randomised clinical studies (vaginal atrophy) with very positive results both for objective (vaginal pH and proportion of superficial cells in the vaginal mucosa) and subjective (most bothersome symptoms, such as vaginal dryness, vaginal irritation/itching, dyspareunia and dysuria) parameters. The magnitude of symptom relief is on par with that demonstrated with e.g. prescription estrogen based products on the market today. It was very well tolerated and caused no serious adverse effects.
VagiVital® was launched in Sweden as a non-prescription self-care product in July 2018 (see www.vagivital.com).
