SANTECH 1A

Convertible loan
Software to quickly and cheaply deploy e-health solutions
€99,750
total amount raised
  • Backed by over 90 investors
This campaign ended

Description of the Loan


The loan is an unsubordinated convertible debenture Loan without security or guarantee, with the following characteristics:

  • The principal amount of the Loan: depending on the results of the subscription to the Notes, the principal of the Loan will be a minimum of EUR 50,000 and a maximum of EUR 99,750 ;
  • The Loan is interest-bearing, starting from the date of its availability to Santech SAS, at an annual gross interest rate of 6%, payable at loan maturity. The annual gross interest rate will be increased by an additional 6% (12% total) if and only if the turnover achieved in the Benelux and Germany area reaches €200,000, to be ascertained at the maturity of the loan based on the firm purchase orders contracted by Santech SAS in the Benelux and Germany area ;
  • This loan is a "bridge loan" that is repayable in principal and interest at maturity provided that Santech SAS has the necessary means to carry out such a repayment. In this context, Santech SAS undertakes the firm commitment that in the case of a capital increase closed prior to maturity of the Loan, the amount raised will be used primarily to honour the repayment in principal and interest of the Loan. In case of failing a capital increase closed prior to maturity and/or if Santech is not able to carry out such a repayment, the loan will be automatically convertible into shares of Santech SAS at the amount covering the principal and interest, ;
  • The conversion into ordinary shares of Santech will occur automatically if the principal and interest are not repaid on the first anniversary of the loan. The conversion will occur at the price of the last post-money valuation of Santech, being 1.666.879 EUR ;
  • Duration: The loan period is 1 year, with, in case of non-conversion, repayment of the principal and payment of interest at loan maturity ;

Below is an example of the amounts that would be received by an investor who subscribed to 1 Santech Note, assuming that the applicable annual gross interest rate is 6% and that Santech meets all of its payment obligations in connection with the Loan:


Below is an example of the amounts that would be received by an investor who subscribed to 1 Santech Note, assuming that the applicable annual gross interest rate is 12% and that Santech meets all of its payment obligations in connection with the Loan:


In case of automatic conversion


In case of automatic conversion, the table here below provides for the distribution of Santech's shares in the context of a capital increase at which MyMicroInvest will subscribe 105.735 EUR (the Loan amount corresponding to the principal and the interests) ;