Iffe Futura, S.A. announced it has entered into an investment agreement for the issue of convertible bonds for a maximum amount of up to €7,075,000 and convertible loans for an amount of up to €2,000,000 and aggregate gross proceeds of €9,075,000 on June 17, 2022. The transaction included participation from Inveready Convertible Finance II and Fcr, Full Global Investments, Scr, S.A. Fund, both funds managed by Inveready Asset Management, S.G.E.I.C., S.A. and Key Wolf, S.L. for convertible bonds and Inveready Biotech III, S.C.R.S.A. and Inveready Biotech III Parallel Scr SA, both funds managed by Inveready Asset Management, S.G.E.I.C., S.A. for convertible loan. The convertible bonds and convertible loan carries a interest rate of 3-month EURIBOR plus a margin of 3.50% of the amount drawn down.

In the event that the EURIBOR is negative, it will be considered equal to zero. Likewise, the Cash Interest Rate will benefit from a cap equal to the 4.36%. Interest rate payable at maturity or at the time of conversion will be 3.49% per annum, compounded annually, and payable at maturity in cash or in shares in the event of conversion.

The conversion price will be €0.33 per action. The Period of conversion will be 6 months since the subscription Y until maturity, at the discretion of the holder of the obligations. The convertible bonds will expire 57 months since the subscription of first section in an issue totaling €4,075,000, and 60 months after the subscription of the first tranche in another issue totaling €3,000,000.

The convertible loan will mature on 3 year grace period + 1 year amortization.