Reinach, June 29, 2020 – Evolva (SIX:EVE), the Swiss biotech company, today announced that it has entered into an agreement for the issuance and subscription of convertible notes with Nice & Green, an independent Swiss company specialized in corporate financing.

In consideration for the issuance of convertible notes Nice & Green has committed to invest at certain conditions up to a maximum principal amount of CHF 12 million over a period of 12 months. The principal amount of each convertible note is, at Evolva’s discretion, either repayable by way of conversion into ordinary shares of the company, or in cash. The conversion price is 95 percent of the lowest daily volume weighted average price for a share on the SIX Swiss Exchange during the 6 trading days immediately preceding the conversion.

The convertible notes facility will be used to finance investments in connection with the expansion of Evolva’s business and may be drawn in tranches depending on the operational requirements and the opportunities for investments to continue to grow its business.

"The agreement provides Evolva access to flexible financing at a reasonable cost. As previously communicated, the company is creating financial flexibility to secure its financing needs and further grow its operations worldwide” commented Chief Executive Officer, Oliver Walker.