Achiko AG / Key word(s): Financing
Achiko AG enters into a convertible note of up to CHF 2m with Negma Group
Zurich, 30 November 2020 - Achiko AG (SWX:ACHI, ISIN CH0522213468) ("the Company") has entered into a new subordinated convertible loan transaction of up to CHF 2 million with Negma Group containing a conversion right into registered shares of the Company with a conversion period of 3 years.
The convertible loan transaction will close between January 1 and February 15, 2021 and comes attached with an issuance of 1,500,000 warrants in Negma Group's favour. Each warrant confers the right to purchase one registered share of the Company, has an exercise period between the 30th and 365th day after the date of issuance of the warrants, and with an exercise price of CHF 0.35 (subject to customary adjustments).
This replaces the existing financing facility with Negma Group and is complementary to the Company's recent announcements regarding updates to the capital increase of CHF 2.9m in October and the recent announcement of the convertible note with Yorkville of USD 2.5m.
"2020 has been critical for us in establishing solid foundations for Teman Sehat and Gumnuts", said Steven Goh, CEO Achiko AG. "We're grateful to everyone for their support and the recent transactions establishes the Company for an exciting 2021."
The development of our patent pending diagnostic testing kit for Covid-19 (Gumnuts) provides an easy and effective way to help people get the information they need. This is complemented by our mobile check-in app (Teman Sehat), enabling users to manage their diagnostic experiences on their own terms, safeguard their privacy, share experiences and find community.
We are headquartered in Zurich, with offices in Hong Kong, Jakarta, Singapore and Seoul.
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