01.15.15
Paris, France-based EOS Imaging, which makes 2-D and 3-D orthopedic imaging systems, has secured €15 million euros (approximately $17.3 million U.S.) in senior debt that includes the immediate issuance through bonds with stock warrants for $626,000 and the issuance of three tranches of bonds for a total of $16.8 million. The first tranche, totaling $5.2 million, is available until March 31, while the second and third tranches, optional and for $5.8 million each, are available until Dec. 31, 2015 and June 30, 2016 respectively. The IPF I fund managed by financing provider IPF Partners has undertaken to subscribe to all of these securities.
“We are delighted to secure this senior debt,” said CEO Marie Meynadier. “We now have flexible and complementary financing solutions, one debt-based and the other capital-based. There is a significant opportunity to drive adoption of the EOS system on a global basis and this operation comfortably secure the group’s financing development plan until we achieve positive cash flow. We will use both of these levers in an optimal manner depending on market conditions, in order to limit both the dilutive effect and financial costs, in the interests of both the Company and its shareholders.”
According to EOS Imaging, the agreement between it and IPF Partners represents a “flexible solution to the financing of the group’s development and operating cycle.”
“We are delighted to secure this senior debt,” said CEO Marie Meynadier. “We now have flexible and complementary financing solutions, one debt-based and the other capital-based. There is a significant opportunity to drive adoption of the EOS system on a global basis and this operation comfortably secure the group’s financing development plan until we achieve positive cash flow. We will use both of these levers in an optimal manner depending on market conditions, in order to limit both the dilutive effect and financial costs, in the interests of both the Company and its shareholders.”
According to EOS Imaging, the agreement between it and IPF Partners represents a “flexible solution to the financing of the group’s development and operating cycle.”