Anaergia Inc. (Anaergia) has announced that the first tranche of the previously announced equity investment of C$40.8 million (€28.1 million) (the Strategic Investment) from Marny Investissement SA (Marny) has closed with the issuance of 31,250,000 units of the Company (Units) for gross proceeds of C$12.5 million (€8.6 million), immediately following entry by the parties into an amendment agreement.
Each Unit consists of one subordinate voting share of the Company (each a “Subordinate Voting Share”) and 1/5 of one Subordinate Voting Share purchase warrant of the Company (each a “Warrant”).
Each Warrant entitles the holder to purchase one additional Subordinate Voting Share at an exercise price of C$0.80 (€0.55) for a period of three years following the date hereof.
In connection with the closing of the first tranche of the Strategic Investment, Ronen Kantor, a nominee of Marny, has been appointed to the Company’s board of directors to fill the vacancy created by the resignation of Alan Viterbi.
Pursuant to the amendment agreement, the remainder of the Strategic Investment is now expected to close as follows: (i) the second tranche of 34,000,000 Units for gross proceeds of C$13.6 million (€9.3 million) will close no later than March 15, 2024; and (ii) the third tranche of 36,750,000 Units for gross proceeds of C$14.7 million (€10.1 million) will close no later than March 15, 2024. The closing of second and third tranches remain subject to a limited number of customary conditions.
Anaergia closes first tranche of Marny investment
