Bayn Europe rolls out natural sugar reducing EUREBA after securing external financing

25 Oct 2017 --- Swiss developer of cutting-edge, healthy sugar reduction solutions, Bayn Europe has signed an agreement relating to an investment of up to SEK 20 million (US$2.4 million). The capital will be used for the production and the roll-out of EUREBA, a natural solution for sugar and calorie reduction, with a consistent quality and taste profile. The transaction is carried out through a private placement of convertible notes with warrants attached in several tranches spread over 24 months.

“This investment will enable us to roll-out EUREBA and produce in enough volumes in order to meet the demand. We are pleased to be able to welcome a large international institutional investor among our investors,” says Lucy Dahlgren, Bayn Europe's CEO and founder.

EUREBA is a taste solution of natural HIS or bulk sweetener blends designed for sugar replacement. They are based on carefully selected ingredients such as polyols (sugar alcohols), dietary fibers and natural sweeteners to provide an end-product that has a superior taste, sufficient sweetness and the desired mouthfeel and structure.

The Tranches are subscribed by a fund managed by L1 Capital Pty, Ltd. L1 Capital is a fund manager based in Melbourne, with over US$1 billion under management. L1 Capital manages five funds with positions across the globe and sectors and has been one of Australia’s top performing Australian equity fund managers since its inception in 2007.

L1 Capital’s investments in Europe focus on technology and healthcare smallcap companies presenting a strong growth potential.

The placement of the first Tranche of SEK 3 million (US$364,033.50) by Bayn Europe, whose execution is conditioned upon prior shareholders’ approval, is the first transaction launched under the global issuance agreement entered into by Bayn Europe with the Investor dated Oct 24, 2017.

In connection with this agreement, Bayn Europe will also issue free warrants to existing shareholders, to protect them against dilution. For the first Tranche, one warrant will be allocated for fifteen shares held on 21 days after Oct 25.

The Shareholders Warrants will have the same characteristics as those of the Investor.

Highlights of the transaction
The first Tranche is a private placement of SEK3 million (US$364k) launched through the issuance of Notes with Warrants attached.

Upon the full exercise of the Warrants and the Shareholders' Warrants of the first Tranche, the investment may provide Bayn Europe with an additional SEK 4.45 million (US$540k).

Maximum additional potential financing of up to SEK 17 million (US$2 million) plus up to a SEK 12.75 million (US$1.5 million) upon exercise of all the Warrants Through further Tranches of Notes with Warrants attached over the next 24 months, subject to the fulfillment of certain conditions.

As a technical measure in order to meet the Investor’s demand for immediate access to its shares, the majority shareholders Första Entreprenörsfonden and Bayn Europe’s CEO Lucy Dahlgren will, during a transitional period, lend shares to the share agent engaged for this financing agreement.

Bayn Europe’s board of directors will shortly approve the issuance of the first Tranche as it is within the limitations of Bayn Europe's articles of association.

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