SAFE SA Signs €3 Million Bond Financing Agreement with GCFO 20

Fleurieux-sur-l’Arbresle, France – September 6, 2024 – SAFE SA (FR001400F1V2 – ALSAF) has announced the amendment of its bond financing deal with Global Corporate Finance Opportunities 20 (GCFO 20). This agreement, initially formed on March 14, 2023, now includes a minimum financing of €3 million to support the company’s continuation plan.

Under the revised terms, GCFO 20 will finance SAFE SA through 20 tranches of bonds convertible into new or existing shares (OCEANE), each tranche valued at €209,000. These bonds will be subscribed by GCFO 20 at 97% of their nominal value.

Two of the tranches have already been issued. The overall process aims to raise net proceeds of €3,006,600. However, existing shareholders may face significant dilution and a decrease in stock value.