International development strategy pursuit in Asia and in the United States
30 März 2021 - 01:19PM
International development strategy pursuit in Asia and in the
United States
Press
release
Ecully, 29 March 2021 – 6 p.m.
Continued international
development
- Workshop
in Thailand dedicated to Spineway implants and instruments
-
Signature of a distribution agreement in the United States
Spineway, specialized in the design of
innovative surgical implants and instruments for the treatment of
severe disorders of the spine, continues its international
development with the organization of a workshop in Thailand on the
use of its products, and the signature of a distribution agreement
in the US state of Ohio.
About fifty spinal surgeons met on 17 March 2021
at the Faculty of Medicine in Khon Kaen, Thailand, for a workshop
on the use of the surgical implants and instruments sold by
Spineway. Led by a senior surgeon, this workshop allowed
participants to familiarize themselves with Spineway’s implant
lines and the relevant operating techniques.
Spineway has had a presence in Thailand since
2016 via an exclusive distribution deal, and its revenue is growing
on this territory1 thanks to both its dynamic distribution partner
and the Thai government’s response to the COVID-19 pandemic. Thanks
to this presence on the Asian continent, Spineway continues to
develop its know-how with leading surgeons in seven countries in
this region.
Signature of a distribution agreement in the United
States
Spineway is launching its return on the North
American market with the signature of a distribution agreement for
the state of Ohio. The instruments and implants have been delivered
by Spineway, and surgeries are scheduled to begin in April.
Solid cash position to support development
As announced, the Group continued to reinforce
its available funds, in particular via the exercise of tranches of
convertible bonds totaling €11.5M2 in 2021, allowing it to achieve
a cash position of €15.6M on 26 March 2021.
As a reminder, the total financing negotiated
under the Negma contract is of €40M, which corresponds to
16 000 convertible bonds with a par value of €2 500 and
granted until June 2022. To date, €22.9M have already been raised,3
of which €16.9M in cash.4 The corresponding shares are already in
circulation5 although the latest conversions will only be
officially included by Euronext on 31 March.
The maximum remainder still available amounts to
€17.1M, corresponding to 6 860 bonds.6
Spineway’s development and solid
financial structure reflect its desire to increase its sales
worldwide and continue both its organic and external growth in
order to strengthen its positions in the field of spinal
surgery.
Upcoming: 15 April 2021
- Publication of Q1 2021 revenue
SPINEWAY IS ELIGIBLE FOR THE PEA-PME
(EQUITY SAVINGS PLANS FOR SMES)Find out all about Spineway
at www.spineway.com
This press release has been prepared in both
English and French. In case of discrepancies, the French version
shall prevail.
Spineway
designs, manufactures and markets innovative implants and surgical
instruments for treating severe disorders of the spinal
column.Spineway has an international network of
over 50 independent distributors and 90% of its revenue comes from
exports.Spineway, which is eligible for investment
through FCPIs (French unit trusts specializing in innovation), has
received the OSEO Excellence award since 2011 and has won the
Deloitte Fast 50 award (2011). Rhône Alpes INPI Patent Innovation
award (2013) – INPI Talent award (2015). ISIN:
FR0011398874 - ALSPW
Contacts:
SPINEWAY Shareholder-services lineAvailable
Tuesday through Thursday(10 a.m. – 12 p.m.)+33 (0)811 045 555 |
ELigible PEA / PMEALSPWEuronext Growth |
AELIUM Finance & Communication Investor
relationsSolène Kennisspineway@aelium.fr |
1 Press release dated 14 January 2021
2 €5M pursuant to the remainder of tranche
three’s €6M announced on 23 December 2020 and €6.5M pursuant to a
fourth tranche to be exercised between 02 and 25 March 2021.
3 A breakdown of the implementation of this
credit agreement with the specifics for the exercise of each
tranche is available on the Spineway website:
https://spineway.com/fr/investisseurs/information-reglementee/#toggle-id-6
4 The conversions of convertible bonds amounting
to €22.9M corresponded to conversions with a cash contribution but
also to €6M in compensation due to an unfavorable difference
between the market price and the par value. The total amount of
compensation posted in 2020 pursuant to this agreement was of €12M
(€6M via issue of convertible bonds, €4.6M via reserved capital
increase, €1.4M in commitment fees).
5 The number of shares in circulation amounts to
14 582 782 342.
6 The conversion of these bonds pursuant to the
current terms and conditions grants the right to
10 470 085 470 shares and
1 229 346 681 attached warrants. The effect on the
shareholders’ equity of the exercise of dilutive securities issued
would be of 0.8% and that of all the remaining convertible bonds
and dilutive securities issued or to be issued (fully diluted)
would be of 44.98%.
Spineway (EU:ALSPW)
Historical Stock Chart
Von Feb 2024 bis Mär 2024
Spineway (EU:ALSPW)
Historical Stock Chart
Von Mär 2023 bis Mär 2024