CIP Merchant Capital Ltd - Guernsey-based investment company - Invests in Aleva Neurotherapeutics SA, a Swiss developer of the next generation of directional deep brain stimulation systems for the treatment of neurological degenerative diseases such as Parkinson's disease.
Subscribes for CHF1.0 million convertible loan notes issued by Aleva, which is hoping to raise CHF5.0 million, which will be converted into share capital of Aleva at a valuation of CHF50 million. Interest on the loan will accrue at 12% per annum until conversion or the date of maturity, being January 31, 2023.
Aleva was founded in 2008 as a spin-off of the Swiss Federal Institute of Technology in Lausanne, Switzerland, and its DBS System was CE-Marked in 2019.
Current stock price: 47.56 pence
Year-to-date change: down 5.8%
By Paul McGowan; paulmcgowan@alliancenews.com
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