Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
As stated previously,
term loan advance under the Agreement (the “B Term Loan”). Immediately after this
In addition, under term loan B, the Company issued the lenders’ warrants to purchase 23,166 common shares of the Company at an exercise price per share of
The foregoing description of the Agreement is qualified in its entirety by reference to the full text of the Agreement which was filed as Exhibit 10.4 of the Quarterly Report on Form 10-Q filed by the Company on
Item 3.02 Unrecorded Sales of
The information set out in Section 2.03 above relating to the Warrants is incorporated by reference in this Section 3.02. The issuance of the warrants and the issuance of the ordinary shares of the Company underlying the warrants will be carried out on the basis of the exemption from registration contained in section 4 (a) (2) of the Securities Act of 1933, as amended.
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