Amphion Innovations plc
Additional Draw Down on Loan Facility
London and New York, 7 February 2017 - Amphion Innovations plc (AIM: AMP), the developer of medical, life science, and technology businesses, today announces that the Company has agreed terms for the draw-down of an additional tranche of US $500,000 (an “Additional Draw”) under the loan facility as announced on 5 June 2014 (the “Facility”).
The current loan balance under the Facility after the Additional Draw will be US $5,800,000. The Additional Draw may be converted into Ordinary Shares of Amphion in accordance with the additional terms of the Facility announced on 22 August 2016.
Under the terms of the Additional Draw, the interest rate will be 10% with repayment to be added to the outstanding balance and amortized over the remaining life of the loan, which matures on 1 December 2017. The proceeds are to be used for working capital for Amphion and its Partner Companies.
The Additional Draw is secured by the additional pledge by the Company of 14,500,000 ordinary shares of Motif Bio plc, bringing the total amount pledged to 4,139,255 ordinary shares of Kromek Group plc and 42,461,625 ordinary shares of Motif Bio plc. Amphion transfers the legal title to, but will retain the beneficial interest in, the total pledged shares.
For further information please contact
+1 212 210 6224
Yellow Jersey PR
Charles Goodwin / Dominic Barretto
+44 (0)7747 788 221
Panmure Gordon Limited (Nominated Adviser and Corporate Broker)
Freddy Crossley / Duncan Monteith (Corporate Finance)
Charlie Leigh-Pemberton (Corporate Broking)
+44 (0)20 7886 2500
Northland Capital Partners Limited (Joint Corporate Broker)
Patrick Claridge / David Hignell (Corporate Finance)
John Howes / Mark Treharne (Corporate Broking)
+44 (0)20 3861 6600
About Amphion Innovations plc
Amphion Innovations is a developer of medical, life science and technology businesses.
We use our extensive experience in company building to invest and build shareholder value in high growth companies in the US and UK. Amphion has significant shareholding in 7 Partner Companies developing proven technologies targeting substantial commercial marketplaces. The Amphion model has been refined to optimise the commercialisation of patents and other intellectual property within the Partner Companies. The Partner Companies collectively own or control over 200 separately identified pieces of intellectual property, a number which grows rapidly each year.