Conversion of Convertible Note CHF 12 Mio. held by Friedli Corporate Finance GmbH, Zug
Zug, April 15, 2019. A bank today requested the conversion in full of the CHF 12 mio. convertible note held by Friedli Corporate Finance GmbH, Zug. Friedli Corporate Finance GmbH, Zug is owned by Peter Friedli, Chairman of the Board of Directors of New Venturetec.
In accordance with the terms and conditions of the convertible note, the conversion price is CHF 9.50. Therefore, 1,263,157 new shares of New Venturetec Ltd with nominal value of CHF 6.00 each are issued.
With the conversion, the number outstanding shares of New Venturetec Ltd. increased from 5,000,000 to 6,263,157. The total (estimated) net asset value as of April 15, 2019 after conversion is USD 74,290,578 or USD 11.84 (CHF 11.85) per share.
About New Venturetec
New Venturetec is a publicly traded Swiss investment company (SIX: NEV) which holds participations in venture companies in the areas of biotechnology and technology which are domiciled in the USA.
The investment horizon should be 10 years or more. A shareholder is recommended to follow the development with interest and base an investment or disinvestment decision on results of the development of the portfolio companies rather than on the general capital market and the investors’ sentiment. Any investor should only invest in New Venturetec if he can afford the complete loss of the investment without having to change his lifestyle. Significant risk is involved and the timelines may exceed the expectations. In addition, the market of New Venturetec shares is very illiquid. The risks of venture investments are 100%. The total loss of the investment has to be considered as a realistic possibility.