Esperite N.V. (ENXTAM:ESP) announced that it has entered into issuance agreement for a private placement of 900 convertible notes at a price of €10,000 per note for gross proceeds of €9,000,000 on March 8, 2017. The transaction will include participation from L1 Capital Pty Limited, which will invest through European Select Growth Opportunities Fund. The note carries no interest and will mature in 12 months from the date of issue. The notes will be convertible into ordinary shares of the company at the option of the holder. The company will also issue such number of warrants that the number multiplied by their strike price shall be equal to 45% of the principal amount of the tranche. On the same date, the company announced that it has issued 100 notes for gross proceeds of €1,000,000 in its first tranche. The company also issued 311,634 warrants in the first tranche. The company may request the exercise of tranche warrants and the issuance the notes with warrants attached in tranches of €500,000 each, upon the earlier of the full conversion into shares and/or redemption in cash of all outstanding notes and the 6-month anniversary of the issuance of the previous tranche of notes, provided that the following conditions are satisfied. The warrants will mature in five years from the date of issuance and will be exercisable into common shares of the company.