Oslo, Norway – 7 November 2023 – IDEX Biometrics (Idex or the Company) has entered into a non-binding term sheet with a new institutional investor group to issue a senior convertible bond for up to 100 million NOK. The convertible bond structure is subject to approval of the formal agreements and shareholder approval.
The convertible bond will be issued at a price of 92% of the principal amount, and will be amortized over 3,5 years through instalment every 2 months over the period. The instalment periods may be altered during the amortizing period. Idex may choose repayment between equity and cash for each instalment. Interest rate is 6% pa. Conversion price will be at a premium to the stock price at closing of the final agreements and any repayments by issuance of shares will be at a discount to market price at each instalment.
To approve the convertible bond, IDEX Biometrics will call for an extraordinary meeting (EGM) on or about 30 November 2023 at 10:00 hours CET, held as an online meeting. The notice of the EGM with attendance forms will be sent to the shareholders soonest. The notice of the EGM will also be disclosed in a notice to the market.
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act
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