Herbst Kinsky advised Marinomed Biotech in the course of a new type of convertible bond program with Nice&Green
Herbst Kinsky advises its long-term client Marinomed Biotech AG in the course of a investment agreement with the Swiss investment company Nice & Green S.A. in the amount of up to EUR 5.4 mio. Under this convertible bond program, Marinomed Biotech AG is entitled to issue up to 18 tranches of zero coupon bonds in the amount of up to EUR 300,000 per tranche during the contractual term of approximately 23 months.
This flexible financial instrument will enable Marinomed to advance its scientific and clinical programs for both its virus-blocking Carragelose technology and its equally proprietary Marinosolv platform for the solubilisation of active pharmaceutical ingredients.
“This program brings a financing structure to Austria that is new for mid-cap companies, the legal implementation of which was not trivial, but in return offers Marinomed a high degree of flexibility in the financial markets,” said partner Philipp Kinsky, who with his team already assisted with the company’s IPO on the Prime Market of the Vienna Stock Exchange in 2019.