Subscription of convertible notes

RNS Number : 9763E
Iconic Labs PLC
01 November 2022
 

1 November 2022

 

Iconic Labs Plc ("Iconic") In Administration

 

EHGOSF Subscribes to a £ 150,000 Second Tranche Under £ 3 Million Financing Facility

 

Iconic announces that European High Growth Opportunities Securitization Fund ("EHGOSF") has subscribed to a £150,000 second tranche of convertible notes under the £3 million financing facility that was entered into on 28 September 2022.

 

In exchange, Iconic will issue 150 convertible notes to EHGOSF along with 468,750,000 warrants with an exercise price of £ 0.00016.

 

The funds under this second tranche shall be used to meet Iconic's obligations to critical and preferential creditors under the CVA and for operational purposes as Iconic seeks to get its trading suspension lifted as soon as possible. 

 

 

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