Description of the Loan
The Extense Pharma Participatory Notes offered to the crowd as part of this investment have the following characteristics:
- Total Amount: Based on the results of subscription to the Extense Pharma Notes, the principal amount of the loan that Spreds Finance will grant to Extense Pharma will be a minimum of € 150,000 and a maximum of € 400,000.
- Participatory notes: 100 € per note with a minimum of 500 €
- Annual rate: Expected annual gross interest rate of 8% from the date of withdrawal
- Loan withdrawal date: Expected to be April 5, 2019
- Loan duration: maximum 2 years
- The loan is "bullet", which means that the principal must be repaid at maturity. In principle, and if Extense Pharma meets all of its payment obligations, the maturity date of the notes should be April 5, 2021.
- Reimbursement in annuities
- Conditions precedent: the Loan is granted under the condition precedent of the subscription of Notes participatives for a total amount at least equal to the minimum amount of the offer as described herein; and under the condition precedent that the Loan will be used solely for the purpose of working capital requirements.
- No dividend payment before repayment of the Loan.
- No new debt can be contracted before repayment of the Loan.