Current Report No: 16/2024
Date: 26.06.2024 r.
Legal Basis: Article 17, Section 1 of the MAR Regulation – Confidential Information
The Management Board of Medicalgorithmics S.A., based in Warsaw “Company”, announces the signing of an agreement on June 25, 2024, to establish a loan line “Agreement” with the Company’s shareholder, BioFund Capital Management LLC “BioFund”. The Supervisory Board, acting under the Company’s Articles of Association, adopted a resolution on June 25, 2024, approving the Agreement.
The Agreement provides for a loan line of up to $3 million USD, available to the Company for a period of four years. The Company can utilize this financing in tranches of up to $1 million USD for specific projects indicated in the tranche activation requests, such as technology development, technology acquisitions, or mergers and acquisitions MA. The loan will bear interest at a rate corresponding to the 90-day average SOFR plus a 2.2% margin, and repayment will be made – unless otherwise agreed – in 24 monthly installments, with the first repayment due no earlier than October 2025. Each tranche activation will be based on a request from the Company specifying the purpose of the tranche. As of the agreement date, the Company does not anticipate requesting any tranches from the loan line.
The Agreement between BioFund Capital Management LLC and the Company is the execution and formalization of BioFund’s declaration related to its investment in the Company in 2022, under which it acquired a 49.99% stake in the Company. BioFund has committed to further supporting the Company’s development, including providing financing of up to $3 million USD.