Navya SA (ENXTPA:NAVYA) announced that it has entered into an agreement for a private placement of 20 repayable bonds at a price of €1,000,000 per bond for gross proceeds of €20,000,000 on June 28, 2019. The transaction will include participation from new investor Esmo Corporation (KOSDAQ:A073070) and existing investor Robolution Capital 1, FCPI, a fund managed by 360° Capital Partners. The bonds will bear an interest rate of 3% and will have a maturity interest rate of 3% and will mature on the fifth anniversary of their issuance.

The bonds will be 100% convertible into 363,363.36 existing or newly issued shares at a conversion price of EUR 2.75 per share. The bonds will have a hold period of 3 months from the date of issuance. The transaction is subject to the approval of the shareholders of the company as well as obtaining a waiver from the European Investment Bank.

The agreement shall be terminated if the conditions precedent are not satisfied and the investment is not consummated at the latest on 30 September 2019, or by mutual consent of the companies. The transaction has been approved by the board of directors of the company.