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Evolva secures additional funding for future growth

·2-min read

Evolva Holding SA / Key word(s): Miscellaneous

17-May-2021 / 07:01 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.

Reinach, May 17, 2021 - Evolva (SIX:EVE), the Swiss biotech company focused on the research, development and commercialization of products based on nature, today signed an agreement with Nice & Green, a Swiss investment firm, to secure additional funding.

The major activities to be funded include the expansion and diversification of manufacturing capacities in the contract manufacturer network as well as investments into commercial activities to sustain high growth in Health Ingredients and to build the Health Protection business. For these purposes, the investment facility may be drawn in tranches depending on Evolva's operational needs.

«The additional funding provided by Nice & Green allows us to establish major building blocks on our way to become EBITDA positive by 2023», said Oliver Walker, CEO of Evolva.

Under the agreement, Nice & Green has committed to an additional incremental investment in form of convertible notes according to agreed conditions up to a maximum principal amount of CHF 20 million until the end of 2022. The principal amount of each convertible note is, at Evolva's discretion, either repayable by way of conversion into ordinary shares of the company, or in cash. The conversion price is 95 percent of the lowest daily volume weighted average price for a share on the SIX Swiss Exchange during the 6 trading days immediately preceding the conversion.

About Evolva
Evolva is a Swiss biotech company focused on the research, development and commercialization of ingredients based on nature. We have leading businesses in Flavors and Fragrances, Health Ingredients and Health Protection. Evolva's employees, half of which are women, are dedicated to make the best products that can contribute to health, wellbeing and sensory enjoyment. Find out more at
evolva.com.

For Evolva multimedia content, please visit: evolva.com/multimedia-library.

Disclaimer
This press release contains specific forward-looking statements, e.g. statements including terms like believe assume, expect or similar expressions. Such forward-looking statements are subject to known and unknown risks, uncertainties and other factors which may result in a substantial divergence between the actual results, financial situation, development or performance of the company and those explicity or implicity presumed in these statements. The company assumes no responsibility to update forward-looking statements or to adapt them to future events or developments.

Contact
Barbara Duci
Head of Investor and Corporate Relations
+41 61 485 2003
+41 79 739 2636

barbarad@evolva.com


End of ad hoc announcement

Language:

English

Company:

Evolva Holding SA

Duggingerstrasse 23

4153 Reinach

Switzerland

Phone:

+41 61 485 20 00

Internet:

www.evolva.com

ISIN:

CH0021218067

Valor:

2121806

Listed:

SIX Swiss Exchange

EQS News ID:

1196953


 

End of Announcement

EQS Group News Service

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