Pixium Vision announces the agreement to extend the maturity date of the outstanding notes associated with the terminated ESGO financing facility
Pixium Vision announces the agreement to extend the maturity date of the outstanding notes associated with the terminated ESGO financing facility
Paris, France, July 11, 2023 – 07:00 CET – Pixium Vision SA (Euronext Growth Paris – FR0011950641; Mnemo: ALPIX), a bioelectronics company that develops innovative bionic vision systems to enable patients who have lost their sight to live more independent lives, announces today that it successfully negotiated an extension of the maturity date, by 6 months, of the 125 outstanding notes amounting to €1.25 million. The new maturity date is January 13, 2024.
On February 13, 2023, Pixium Vision announced the termination of the convertible note financing agreement signed with ESGO on July 13, 2022, for a maximum total frame of €30 million. Pixium Vision drew a first tranche of 550 notes amounting to €5.5 million on July 13, 2022 with a maturity of one year. To date, 125 notes amounting to €1.25 million remain outstanding to be converted by ESGO or repaid by Pixium Vision for their nominal value if not converted by ESGO before their maturity date. Pixium Vision and ESGO mutually agreed to extend the maturity date of these outstanding notes to January 13, 2024.
CEO Lloyd Diamond commented: “I am grateful to announce the continued support by our financing partner ESGO. Despite the termination of our agreement, we thank ESGO for the continued support of Pixium Vision.”
As indicated in previous press releases (link), Pixium Vision continues to actively seek financing options to support its strategic ambitions. The Company is actively working with two investment banks mandated to assist in its search for investors worldwide.
The Company’s cash runway is currently still estimated until the end of September 2023.
About Pixium Vision
Pixium Vision is creating a world of bionic vision for those who have lost their sight, enabling them to regain visual perception and greater autonomy. Pixium Vision’s bionic vision systems are associated with a surgical intervention and a rehabilitation period. Prima System sub-retinal miniature photovoltaic wireless implant is in clinical testing for patients who have lost their sight due to outer retinal degeneration, initially for atrophic dry age-related macular degeneration (dry AMD). Pixium Vision collaborates closely with academic and research partners, including some of the most prestigious vision research institutions in the world, such as Stanford University in California, Institut de la Vision in Paris, Moorfields Eye Hospital in London, Institute of Ocular Microsurgery (IMO) in Barcelona, University hospital in Bonn, and UPMC in Pittsburgh, PA. The Company is EN ISO 13485 certified and qualifies as “Entreprise Innovante” by Bpifrance.
Forward-Looking Statements. This press release contains certain forward-looking statements. Although the Company believes its expectations are based on reasonable assumptions, these forward-looking statements are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those anticipated. For a discussion of risks and uncertainties which could cause the Company’s actual results, financial condition, performance or achievements to differ from those contained in the forward-looking statements, please refer to the Risk Factors (“Facteurs de Risques”) section of the Company’s 2022 Annual Financial Report and other documents the Company files with the AMF, which is available on the AMF website (www.amf- france.org) or on the Company’s website.
For more information: http://www.pixium-vision.com/fr
Follow us on @PixiumVision; www.facebook.com/pixiumvision
www.linkedin.com/company/pixium-vision
For more information: http://www.pixium-vision.com/fr
Follow us on @PixiumVision; www.facebook.com/pixiumvision
www.linkedin.com/company/pixium-vision
Contacts
| Investor Relations Pixium Vision | Media Relations Rose Piquante Consulting |
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