Medicalgorithmics will convert Biofund’s loan into shares at a price of PLN 33. The Company’s General Meeting of Shareholders will take a key decision.
Medicalgorithmics, a Warsaw Stock Exchange-listed developer of an innovative platform and AI algorithms for ECG analysis, has signed an addendum to its loan agreement with Biofund Capital Management. Under the amendment, the parties have agreed to convert the liabilities arising from the 2024 loan into shares in the company at a price of PLN 33 per share. The General Meeting of Shareholders will decide on the issue of shares, which will ultimately be used for the conversion. The signed amendment to the agreement represents significant progress in the process of converting the liabilities arising from the aforementioned loan, which was offered to the Company by the Biofund in January this year. At the same time, the fund signed a lock-up agreement, under which it undertook not to sell the Company’s shares until 20 January 2027.