Core Insights - BioHarvest Sciences Inc. has successfully strengthened its balance sheet by raising $10.9 million in gross proceeds and reducing total debt by $3.8 million through a series of accelerated warrant exercises and debt-to-equity conversions [2][3][4] Financial Transactions - The company executed transactions that included the exercise of 1,113,192 warrants into ordinary shares, conversion of $6.9 million in convertible notes into 1,058,261 ordinary shares, and issuance of 88,213 ordinary shares for a $0.6 million short-term repayment [3][4][6] - The total debt post-transactions is approximately $6.6 million, comprising $3.6 million in short-term debt and $3 million in long-term debt [4] Use of Proceeds - The gross proceeds of $10.9 million will be allocated for capital expenditures related to new capacity building, refinancing remaining debt, and general working capital [4] Management Commentary - CEO Ilan Sobel emphasized that these transactions represent a significant milestone for the company, enhancing financial flexibility to accelerate growth initiatives across its product and CDMO services divisions [5]
BioHarvest Sciences Strengthens Balance Sheet by $14.7 Million with Injection of $10.9 Million Gross Proceeds and Additional $3.8 Million in Debt Reduction