on BIOSYNEX (EPA:ALBIO)
BIOSYNEX: Agreement in Principle for Financial Reorganization and Capital Increase
On December 2, 2024, BIOSYNEX SA announced that it had reached an agreement in principle with its main creditors to reorganize its financial debt. This agreement aims to adapt the company's financial structure to its post-Covid activity and to support its future development. Existing bank debts will be reorganized through medium-term credit lines and an extension of repayment maturities.
In addition, BIOSYNEX plans a capital increase of €8 million in January 2025, with preferential subscription rights maintained. This increase is supported by its founder, Larry Abensur, and an external investor, thus guaranteeing 75% of it. If Mr. Abensur crossed the 50% threshold of voting rights, this would trigger a mandatory public offer, although an exemption has been requested.
The agreement also provides for a strategic reorganization, including the possible sale of North American activities. These measures aim at reducing debt and strategic refocusing.
R. P.
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