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14 October 2021
press release

Austria: Schoenherr advises Nice & Green S.A. on innovative convertible notes funding programme with Marinomed Biotech AG

Schoenherr advised Swiss investment firm Nice & Green S.A. on an innovative convertible notes funding programme (CNFP) with Vienna Stock Exchange listed Marinomed Biotech AG.

The CNFP, which Nice & Green S.A. already successfully offers in other European countries in relation to other issuers, is a novelty on the Austrian market and provides flexible funding via zero-coupon notes tranches to listed mid-cap companies.

Under the CNFP, Marinomed Biotech AG is entitled to issue up to 18 tranches of zero coupon bonds in the amount of up to EUR 300,000 per tranche during the contractual term of approximately 23 months. This flexible financing enables Marinomed to advance its scientific and clinical programmes for both its two proprietary assets, the virus blocking Carragelose technology and the Marinosolv platform for the solubilisation of pharmaceutical compounds. Nice & Green S.A. has committed to subscribe for any convertible notes issued under the CNFP and shall request the conversion into ordinary shares of Marinomed which are available from conditional capital approved by Marinomed's annual general meeting on 17 June 2021 for this purpose.

Schoenherr provided full scale transactional support for Nice & Green which included structuring as well as drafting and negotiating the key transaction documents.

Nice & Green S.A. is a privately held, independent investment firm located in Nyon, Switzerland, providing innovative and tailor-made alternative financing solutions for small and mid-sized listed companies. Nice & Green helps ambitious companies secure funding needed for their growth and strives to establish long term financial partnerships with them.

Marinomed Biotech AG (Korneuburg, Austria; VSE:MARI) is an Austrian science-based biotech company with globally marketed therapeutics. The company is listed on the Prime Market of the Vienna Stock Exchange and focuses on the development of innovative products based on two patent-protected technology platforms. The Marinosolv® technology increases the solubility and bioavailability of compounds that are hardly soluble in aqueous formulations. The Carragelose® platform comprises innovative patent-protected products targeting viral infections of the respiratory tract and may also reduce the risk of an infection with SARS-CoV-2. Carragelose® is used as a virus blocker in nasal sprays, throat sprays, and lozenges, which are sold via international partners in over 40 countries. Marinomed, Marinosolv® and Carragelose® are registered trademarks of Marinomed Biotech AG. These trademarks may be owned or licensed in select locations only.

The Schoenherr team advising Nice & Green S.A. on this transaction consisted of Ursula Rath (partner) and Christoph Moser (partner).

Marinomed was advised by Herbst Kinsky (Philipp Kinsky and Georg Durstberger).



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