Mithra Postpones Annual Meeting
Published: 5/28/2024
Mithra
women's health
postponement
monetization process
shareholders' meeting
financial restructuring
Estetrol
ESTELLE
DONESTA
bridge loan
Key Takeaways
- Mithra postpones its annual shareholders' meeting due to ongoing monetization processes.
- Court protections are in place for Mithra’s key assets to oversee asset sales and debt restructuring.
- Mithra continues to focus on innovative women's health solutions despite financial restructuring.
Did You Know?
Did you know that Mithra's flagship product ESTELLE® is one of the first contraceptive pills to use the unique native estrogen Estetrol?
Introduction
Mithra, a leading biopharmaceutical company focused on women's health, has announced the postponement of its Annual General Shareholders’ Meeting. Originally scheduled for May 30, 2024, the meeting will be rescheduled to a later date due to ongoing monetization processes and related uncertainties.
Reason for Postponement
The decision to delay the meeting arises from Mithra's comprehensive monetization process aimed at exploring the sale of selected assets or possibly the entire business. The company has secured a bridge loan of up to EUR 13.5 million from funds managed by Highbridge Capital Management, LLC, and Whitebox Advisors, LLC.
This loan will be disbursed in multiple tranches subject to meeting specific milestones. An additional uncommitted EUR 5 million
References
- Mithra Pharmaceuticals Official Websitehttps://www.mithra.com
- Highbridge Capital Managementhttps://www.highbridge.com
- Whitebox Advisorshttps://www.whiteboxadvisors.com
