Venus Concept Inc. Announces Multi-Tranche Private Placement of Senior Convertible Preferred Stock for up to $9 Million with EW Healthcare Partners
Venus Concept, a global leader in medical aesthetic technology, has entered into a stock purchase agreement with EW Healthcare Partners. The agreement allows Venus Concept to issue and sell up to $9 million in senior convertible preferred stock by December 31, 2025. Initial closing involves the sale of 280,899 shares at $7.12 each, totaling $2 million. Proceeds will be used for working capital and general corporate purposes. Subsequent tranches are subject to investor acceptance. The stock is convertible on a 1-for-2.6667 basis. Canaccord Genuity acted as the exclusive placement agent and financial advisor. The securities will be sold in a private placement and are not registered under the Securities Act.
Venus Concept, leader globale nella tecnologia estetica medica, ha stipulato un accordo di acquisto di azioni con EW Healthcare Partners. L'accordo consente a Venus Concept di emettere e vendere fino a 9 milioni di dollari in azioni privilegiate convertibili senior entro il 31 dicembre 2025. La chiusura iniziale prevede la vendita di 280.899 azioni a 7,12 dollari ciascuna, per un totale di 2 milioni di dollari. I proventi saranno utilizzati per il capitale circolante e le spese aziendali generali. Le tranche successive sono soggette all'accettazione degli investitori. Le azioni sono convertibili su base 1 per 2,6667. Canaccord Genuity ha agito come agente di collocamento esclusivo e consulente finanziario. I titoli saranno venduti in un collocamento privato e non sono registrati ai sensi del Securities Act.
Venus Concept, un líder global en tecnología estética médica, ha firmado un acuerdo de compra de acciones con EW Healthcare Partners. El acuerdo permite a Venus Concept emitir y vender hasta 9 millones de dólares en acciones preferentes convertibles senior antes del 31 de diciembre de 2025. El cierre inicial implica la venta de 280,899 acciones a 7,12 dólares cada una, totalizando 2 millones de dólares. Los ingresos se utilizarán para capital de trabajo y fines corporativos generales. Las tramos subsiguientes están sujetas a la aceptación de los inversores. Las acciones son convertibles a una tasa de 1 por 2,6667. Canaccord Genuity actuó como agente de colocación exclusivo y asesor financiero. Los valores se venderán en una colocación privada y no están registrados bajo la Ley de Valores.
비너스 컨셉(Venus Concept)은 의료 미용 기술의 글로벌 리더로서 EW 헬스케어 파트너스(EW Healthcare Partners)와 주식 매입 계약을 체결했습니다. 이 계약은 비너스 컨셉이 2025년 12월 31일까지 최대 900만 달러의 선순위 전환 우선주를 발행하고 판매할 수 있도록 허용합니다. 초기 종료에는 주당 7.12달러로 280,899주가 판매되며, 총 금액은 200만 달러입니다. 이 수익금은 운영 자본과 일반 기업 용도로 사용됩니다. 이후 분할 지급은 투자자의 수락에 따라 달라집니다. 주식은 1 대 2.6667 비율로 전환 가능합니다. 카나코드 제뉴이티(Canaccord Genuity)는 독점 배치 대리인 및 재무 고문으로 활동했습니다. 증권은 사모로 판매되며, 증권법에 따라 등록되지 않습니다.
Venus Concept, un leader mondial dans la technologie esthétique médicale, a conclu un accord d'achat d'actions avec EW Healthcare Partners. Cet accord permet à Venus Concept d'émettre et de vendre jusqu'à 9 millions de dollars d'actions privilégiées convertibles seniors d'ici le 31 décembre 2025. La clôture initiale concerne la vente de 280 899 actions à 7,12 dollars chacune, pour un total de 2 millions de dollars. Les produits seront utilisés pour le fonds de roulement et les dépenses générales de l'entreprise. Les tranches suivantes sont soumises à l'acceptation des investisseurs. Les actions sont_convertibles sur une base de 1 pour 2,6667. Canaccord Genuity a agi en tant qu'agent de placement exclusif et conseiller financier. Les titres seront vendus dans le cadre d'un placement privé et ne sont pas enregistrés en vertu de la loi sur les valeurs mobilières.
Venus Concept, ein internationaler Marktführer in der medizinischen Ästhetik-Technologie, hat einen Aktienkaufvertrag mit EW Healthcare Partners abgeschlossen. Der Vertrag erlaubt es Venus Concept, bis zum 31. Dezember 2025 bis zu 9 Millionen US-Dollar in vorrangigen wandelbaren Vorzugsaktien auszugeben und zu verkaufen. Der anfängliche Abschluss umfasst den Verkauf von 280.899 Aktien zum Preis von jeweils 7,12 US-Dollar, was insgesamt 2 Millionen US-Dollar macht. Die Erlöse werden zur Finanzierung des Betriebskapitals und für allgemeine Unternehmenszwecke verwendet. Folgetransaktionen unterliegen der Zustimmung der Investoren. Die Aktien sind im Verhältnis 1 zu 2,6667 wandelbar. Canaccord Genuity fungierte als exklusiver Platzierungsagent und Finanzberater. Die Wertpapiere werden in einer Privatplatzierung verkauft und sind nicht nach dem Wertpapiergesetz registriert.
- Venus Concept secures up to $9 million in funding.
- Initial $2 million raised at $7.12 per share.
- Funding supports working capital and corporate purposes.
- Convertible stock offers flexibility for investors.
- Subsequent tranche funding subject to investor acceptance.
- Convertible stock could lead to shareholder dilution.
TORONTO, May 15, 2023 (GLOBE NEWSWIRE) -- Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, today announced that it has entered into a stock purchase agreement (the “Stock Purchase Agreement”) with funds affiliated with EW Healthcare Partners (the “Investors”). Pursuant to the Stock Purchase Agreement, the Company may issue and sell to the Investors up to
At the initial closing, expected to occur today, the Investors will purchase 280,899 Senor Preferred Stock at a price of
The purchase price for each share of Senior Preferred Stock purchased in each tranche floats at a price equal to the product of (a) the lower of (i) the closing price of the Company’s common stock on the trading day immediately preceding the applicable tranche closing date and (ii) the average closing price of the Company’s common stock for the five trading days immediately preceding the applicable closing date, multiplied by (b) two. Each share of Senior Preferred Stock is convertible into common shares on a 1-for-2.6667 basis at the option of (i) the Investors at any time or (ii) the Company within 30 days following the occurrence of specified trigger events.
“We appreciate the continued support from EW Healthcare Partners, a longstanding investor in the Company,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. “This financing provides Venus Concept with valuable capital to execute our near-to-intermediate term strategic objectives. We look forward to working with EW Healthcare Partners to access funding from this multi-tranche private placement as needs arise.”
Additional information regarding the Stock Purchase Agreement and the Senior Preferred Stock will be set forth in a Current Report on Form 8-K, which Venus Concept expects to file with the SEC today.
Canaccord Genuity acted as exclusive placement agent and financial advisor to the Company in the offering.
The offer and sale of the foregoing securities are being made in a transaction not involving a public offering and have not been registered under the Securities Act of 1933, as amended (the “Securities Act”), or applicable state securities laws, and will be sold in a private placement pursuant to Section 4(a)(2) and/or Regulation D of the Securities Act. The securities may not be offered or sold in the United States absent registration or pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. The Company has agreed to file a registration statement covering the resale of the Common Shares acquired by the investors in the private placement, including the Common Shares issuable upon conversion of the Senior Preferred Stock.
This press release does not constitute an offer to sell or the solicitation of an offer to buy the securities in the described offering, nor shall there be any offer, solicitation or sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Any statements contained herein that are not of historical facts may be deemed to be forward-looking statements. In some cases, you can identify these statements by words such as such as “anticipates,” “believes,” “plans,” “expects,” “projects,” “future,” “intends,” “may,” “should,” “could,” “estimates,” “predicts,” “potential,” “continue,” “guidance,” and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements include, but are not limited to, statements about the expecting timing of the initial closing of the sale of Senior Preferred Stock and whether or not any subsequent sales of the Senior Preferred Stock will occur. These forward-looking statements are based on current expectations, estimates, forecasts, and projections about our business and the industry in which the Company operates and management's beliefs and assumptions and are not guarantees of future performance or developments and involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. As a result, any or all of our forward-looking statements in this communication may turn out to be inaccurate. Factors that could materially affect our business operations and financial performance and condition include, but are not limited to, general economic conditions, including the global economic impact of COVID-19, and involve risks and uncertainties that may cause results to differ materially from those set forth in the statements and those risks and uncertainties described under Part II Item 1A—“Risk Factors” in our Quarterly Reports on Form 10-Q and Part I Item 1A—“Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2022. You are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on the forward-looking statements. The forward-looking statements are based on information available to us as of the date of this communication. Unless required by law, the Company does not intend to publicly update or revise any forward-looking statements to reflect new information or future events or otherwise.
About Venus Concept
Venus Concept is an innovative global medical aesthetic technology leader with a broad product portfolio of minimally invasive and non-invasive medical aesthetic and hair restoration technologies and reach in over 60 countries and 14 direct markets. Venus Concept’s product portfolio consists of aesthetic device platforms, including Venus Versa, Venus Legacy, Venus Velocity, Venus Fiore, Venus Viva, Venus Glow, Venus Bliss, Venus BlissMAX, Venus Epileve, Venus Viva MD and AI.ME. Venus Concept’s hair restoration systems include NeoGraft® and the ARTAS iX® Robotic Hair Restoration system. Venus Concept has been backed by leading healthcare industry growth equity investors including EW Healthcare Partners (formerly Essex Woodlands), HealthQuest Capital, Longitude Capital Management, Aperture Venture Partners, and Masters Special Situations.
FAQ
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