17. WHAT are the general terms of the €300 million legally binding Share Subscription Facility (SSF) with Global Emerging Markets (GEM)?

Normax Press Release

Normax secures €300,000,000 capital commitment from Global Emerging Markets (GEM) for research and development and manufacturing of mRNA Vaccines for transformative global social impact

Normax plans to use capital finance to scale mRNA Vaccine Research and Development with Vax Factory Manufacturing for Transformative Social Impact on Infectious Diseases, Rare Diseases, Cancers and Pandemic Preparedness

July 11, 2022, 12:00 PM Greenwich Mean Time (GMT) – PRESS RELEASE. NOT AN OFFER. SEE DISCLAIMER.

DUBLIN, Ireland — The mRNA vaccine technology company Normax Biomed Limited (“Normax”), today announced a €300 Million investment commitment from GEM Global Yield LLC SCS (“GEM”), the $3.4 Billion, Luxembourg based, private alternative investment group that focuses on emerging markets with offices in Paris, Nassau (Bahamas) and New York.

Under the agreement, GEM will provide Normax with a Share Subscription Facility (“SSF”) of up to €50 Million for a 36 month term following the public listing of the Normax common stock, and an SSF of up to €250 Million for up to ten specialized Normax Subsidiary Companies (“SPV”) of Normax Group. Normax will control the timing and maximum amount of each drawdown under the facility and has no minimum subscription obligation. Normax plans to list on SIX Swiss Exchange and/or SIX Digital Exchange (SDX) and/or London Stock Exchange with digital Normax mRNA Vaccine and Vax Factory SPV listings on SDX.

The SSF entered into with GEM Global Yield LLC SCS, Luxembourg, and GEM Yield Bahamas Ltd (collectively “GEM”) is a EUR 300 million facility over three (3) years and allows Normax to draw down funds at its option in exchange for Normax common shares. The mechanics of the GEM facility allow for multiple draw-downs, the amount being in a range related to the trading volume and price of the Normax shares. Normax will control the timing and maximum amount of any draw-down, and has the right, not the obligation, to draw down on the full committed amount. The draw-down amount is based on 90% of the average closing price and the average volume of the Normax common shares of the last 15 trading days. The consideration for the GEM facility is due for payment by Normax in twelve months from the listing of the shares on SIX Swiss Exchange and can be paid by way of Normax shares. In addition, GEM has been granted warrants to purchase Normax shares.

Normax Press Release, July 11, 2022
By |2022-09-02T07:33:50+00:00August 31, 2022||Comments Off on 17. WHAT are the general terms of the €300 million legally binding Share Subscription Facility (SSF) with Global Emerging Markets (GEM)?

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