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Convertible notes financing agreement

On March 23, 2020, Moberg Pharma entered into a convertible notes financing agreement with Nice & Green S.A. Under the terms of the agreement, Nice & Green has committed to subscribe for convertibles with a total nominal amount of up to SEK 216,000,000, divided into tranches of initially SEK 3,000,000 per month in six months and thereafter with a possibility to increase to SEK 6,000,000 per month (depending on then prevailing market conditions). The convertible notes may be converted into shares at a 7% discount to the lowest daily volume-weighted average share price (VWAP) of the five trading days prior to the date on which Nice & Green has sent a conversion notice to Moberg Pharma.

The number of received tranches, the amount converted, and the number of shares converted and issued under the agreement are set-out below.

Date

Tranche No.

Nominal Subscription Amount

Amount converted 

Number of Converted Shares

Average Conversion price

Nominal Amount Outstanding

Number of Shares to be Issued

Number of Issued Shares

20200519 1 SEK 3,000,000                                                        - - SEK 3,000,000 - -
20200528 1 - SEK 500,000 34,430 SEK 14,52 SEK -500,000 34,430 -
20200618 2 SEK 3,000,000 - - - SEK 3,000,000 - -
20200622 1 - - - - - (34,430) 34,430
20200625 1 - SEK 2,500,000 171,820 SEK 14,55 SEK 2,500,000 171,820 -
20200625 2 - SEK 3,000,000 206,184 SEK 14,55 SEK 3,000,000 206,184 -
20200720 3 SEK 3,000,000 - - - SEK 3,000,000 - -
20200807 3 - SEK 3,000,000 222,431 SEK 13,49 SEK 3,000,000 222,431 -
20200818 4 SEK 3,000,000 - - - SEK 3,000,000 - -
20200916 5 SEK 3,000,000 - - - SEK 3,000,000 - -
20200923 1 - - - - - -171,820 171,820
20200923 2 - - - - - -206,184 206,184
20200923 3 - - - - - -222,431 222,431
20201015 6 SEK 3,000,000 - - - SEK 3,000,000 - -

Total/Average

 

SEK 18,000,000

SEK 9,000,000

634,865

SEK 14,18

SEK 9,000,000

-

634,865

 
To be compliant with SFSA rules, Nice & Green declares short positions corresponding to the amount of shares converted but not yet delivered and sold in the market by Nice & Green.