April 19, 2018 / 6:48 AM / a month ago

BRIEF-Mondo TV Signs Investment Agreement With Atlas

April 19 (Reuters) - Mondo TV SpA:

* SAID ON WEDNESDAY ITS BOARD HAS APPROVED THE SIGNING OF AN INVESTMENT AGREEMENT WITH ATLAS SPECIAL OPPORTUNITIES

* THE AGREEMENT PROVIDES FOR THE ISSUANCE OF A NEW LINE OF CONVERTIBLE BONDS FOR UP TO 18 MILLION EUROS IN TWO TRANCHES OF 11 MILLION EUROS AND 7 MILLION EUROS, TO BE CALLED WITHIN 2019

* MONDO TV WILL ALSO ISSUE A GLOBAL WARRANT IN FAVOR OF ATLAS FOR THE SUBSCRIPTION OF 450,000 MONDO TV SHARES AT A PRICE OF 7.50 EUROS PER SHARE FOR A TOTAL MAXIMUM VALUE OF 3.38 MILLION EUROS

* BY THE CURRENT SHARE MARKET PRICES, THE MAXIMUM DILUTION EFFECT FROM THE BONDS CONVERSION WOULD BE 11.32 PERCENT

* THE MAXIMUM DILUTION EFFECT FROM THE WARRANT EXERCISE, WOULD BE 1.43 PERCENT

* “WE CAN SAY THAT 2018 WILL BE THE BEST IN OUR HISTORY FOR ABSOLUTE VALUES; WE EXPECT EQUITY TO 110 MILLION EUROS AT THE END OF 2018 WITH VERY POSITIVE ECONOMIC RESULTS” - MATTEO CORRADI, CEO OF MONDO TV

* CO WILL GET WITH ATLAS RESOURCES TO BE READY FOR POSSIBLE ACQUISITION IN THE NEXT THREE YEARS OF COMPANIES OR BRANCHES OF COMPANIES IN THOSE MARKETS WHERE THE GROUP HAS NOT ADEQUATE POSITIONING AS IN NORTHERN EUROPE, UNITED STATES OR RUSSIA, AND/OR OF HIGH POTENTIAL BRAND TO WIDEN ITS DISTRIBUTION POTENTIAL

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Further company coverage: (Gdynia Newsroom)

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