Marinomed Biotech AG Agrees to Convertible Bond Issuance with EIB

Marinomed Biotech AG has announced the signing of a binding term sheet with the European Investment Bank (EIB) for the issuance of a convertible bond. This bond, with a nominal value of EUR 423,840, is intended to be subscribed exclusively by the EIB, excluding statutory subscription rights of existing shareholders.

The convertible bond allows for the conversion into up to 84,768 shares at a price of EUR 5 per share. The issuance is scheduled for December 2024. The company's conditional capital will provide shares in the event of conversion.

A report detailing the planned exclusion of shareholder subscription rights will soon be published. The issuance requires a resolution from the Supervisory Board, which can only occur two weeks post-publication of the report. Approval from the insolvency administrator is still pending.