Belgian pharmaceutical manufacturer invests €30 million in Bitcoin and Ethereum
- Belgian pharmaceutical company Oxurion has secured €30 million in funding to begin a strategic investment in Bitcoin and Ethereum.
- According to the agreement, twelve tranches of convertible bonds worth EUR 2.5 million will be made available,
The Belgian pharmaceutical manufacturer Oxurion NV, like many other institutions, is entering the crypto industry with capital. To support the new investment, Ooxurion has secured a financing facility of €30 million.
On December 1st, the company announced in a Blog post knownthat a binding subscription agreement has been concluded with Atlas Capital Markets. They want to include Bitcoin and Ethereum in a long-term financial strategy.
According to the agreement, EUR 30 million will be provided in twelve tranches as convertible bonds worth EUR 2.5 million, subscribed at 90% of their face value.
Each tranche includes 100 individually registered bonds with a nominal value of 25,000 euros and a term of twelve months.
The conditions
At least 85% of the funds raised should be invested directly in Bitcoin and Ethereum. The assets will then be held in an account that will serve as collateral for Atlas Capital Markets. In addition, the assets can only be partially unlocked if Oxurion’s share price exceeds the conversion price of a tranche by at least 30% – a strict, performance-related condition.
The first tranche will be released when a commission of €900,000 is deducted in advance. For the following tranches, 75% of the previously issued bonds must be converted into shares. This ensures a gradual, results-oriented payout.
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