GlobeNewswire by notified

ObsEva Announces $31 million Debt Retirement and $11 million Debt Refinancing

Share

Ad hoc announcement pursuant to Art. 53 LR of the SIX Swiss Exchange


GENEVA, Switzerland – August 1, 2022 – ObsEva SA (NASDAQ: OBSV; SIX: OBSN), a biopharmaceutical company developing novel therapies for women’s health, today announced the early retirement of $31 million in debt that was part of amounts owed to certain funds and accounts managed by JGB Management, Inc. (JGB) pursuant to the Company’s Securities Purchase Agreement with JGB. Additionally, the Company has entered into an amendment and forbearance agreement with respect to the outstanding debt held by JGB.

Under the terms of the agreement, ObsEva and JGB agreed to apply the $31 million cash previously held as collateral in a control account against the outstanding convertible notes on a pro rata basis, with JGB waiving a 25% prepayment penalty on the early debt retirement. In addition, JGB has agreed to forbear for a period of up to three months from enforcing any rights or remedies under the notes in connection with certain events of default by the Company in connection with the Company’s prior announced application to the Swiss court for a preliminary moratorium to facilitate the Company’s planned restructuring. In exchange, $1.5 million was added to the outstanding principal balance under the notes, resulting in an aggregate of approximately $11 million of convertible notes outstanding, and the conversion price of the notes was adjusted to a conversion price of $0.26 per share. Further information with respect to the agreement will be provided in a Form 6-K filed by ObsEva with the Securities and Exchange Commission on August 1, 2022.

About ObsEva

ObsEva is a biopharmaceutical company developing novel therapies to improve women’s reproductive health and pregnancy. Through strategic in-licensing and disciplined drug development, ObsEva has established a clinical pipeline with development programs focused on new therapies for the treatment of preterm labor and improving clinical pregnancy and live birth rates in women undergoing in vitro fertilization. ObsEva is listed on the Nasdaq Global Select Market and is traded under the ticker symbol “OBSV” and on the SIX Swiss Exchange where it is traded under the ticker symbol “OBSN”. For more information, please visit www.ObsEva.com

Cautionary Note Regarding Forward-Looking Statements

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “anticipate”, “believe”, “continue”, “could”, “estimate”, “expect”, “intend”, “may”, “might”, “ongoing”, “objective”, “plan”, “potential”, “predict”, “should”, “will”, “would”, or the negative of these and similar expressions, and are based on ObsEva’s current beliefs and expectations. These statements involve risks and uncertainties that could cause actual results to differ materially from those reflected in such statements. These forward-looking statements include statements regarding the potential impact of the Company’s amendment and forbearance agreement with JGB and the Company’s planned restructuring and application to the Swiss court for a moratorium. Risks and uncertainties that may cause actual results to differ materially include uncertainties in the outcome and potential impact of the Company’s filing for a court-sanctioned moratorium, including with respect to ObsEva’s agreements with third parties, including the Company’s Securities Purchase Agreement with JGB and the outstanding convertible notes and warrants issued pursuant to such agreement, in ObsEva’s ability to successfully restructure its operations and refocus the Company’s development and commercialization strategy, and to cooperate with Kissei or other third parties on the completion of the linzagolix extension studies, in the conduct of clinical trials and clinical development, including the risk that the results of earlier clinical trials may not be predictive of the results of later stage clinical trials, related interactions with regulators, including interactions with the FDA during the New Drug Application process for linzagolix, ObsEva’s reliance on third parties over which it may not always have full control, and the capabilities of such third parties, the impact of the ongoing novel coronavirus outbreak and other geopolitical events, and other risks and uncertainties that are described in the Risk Factors section of ObsEva’s Annual Report on Form 20-F for the year ended December 31, 2021 filed with Securities and Exchange Commission (SEC) on March 10, 2022, in the Report on Form 6-K filed with the SEC on May 17, 2022 and other filings ObsEva makes with the SEC. These documents are available on the Investors page of ObsEva’s website at www.ObsEva.com. Any forward-looking statements speak only as of the date of this press release and are based on information available to ObsEva as of the date of this release, and, except as required by law, ObsEva assumes no obligation to, and does not intend to, update any forward-looking statements, whether as a result of new information, future events or otherwise.


For further information, please contact:

CEO Administrative Contact
Shauna Dillon
Shauna.dillon@obseva.ch
+41 (0) 22 552 1550

Investor Contact
Katja Buhrer
Katja.buhrer@obseva.com
+1 (917) 969-3438


Attachment

To view this piece of content from www.globenewswire.com, please give your consent at the top of this page.
To view this piece of content from ml-eu.globenewswire.com, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://notified.com

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Remuneration of Director by distribution of Millicom (Tigo) shares23.9.2022 23:00:00 CEST | Press release

Remuneration of Director by distribution of Millicom (Tigo) shares Luxembourg, September 23, 2022 – Millicom International Cellular S.A. ("Millicom") announces that, in accordance with the resolution of its shareholders at the annual general meeting held on May 4, 2022, it has distributed a total of 1,150 shares to one of the members of its Board of Directors as part of their non-executive director remuneration for the period from the date of the 2022 AGM to the 2023 AGM, to be held in May 2023. Details of the distributions are disclosed on Millicom’s website. -END- For further information, please contact Press: Yocasta Valdez, Sr. Manager Digital Media & Corporate Communications press@millicom.comInvestors: Michel Morin, VP Investor Relations Sarah Inmon, Director Investor Relations investors@millicom.com About Millicom Millicom (NASDAQ U.S.: TIGO, Nasdaq Stockholm: TIGO_SDB) is a leading provider of fixed and mobile telecommunications services in Latin America. Through our TIGO® and

Enento Group signed EUR 180 million syndicated loan agreement23.9.2022 16:00:00 CEST | Press release

ENENTO GROUP PLC, INVESTOR NEWS ON 23 SEPTEMBER 2022 AT 5.00 P.M. EET Enento Group signed EUR 180 million syndicated loan agreement Enento Group has today signed a new long-term financing agreement to be used for refinancing of its current financing arrangement. The financing agreement consists of a EUR 150 million long-term loan as well as a EUR 30 million revolving credit facility. The agreement is for three years and includes two one-year options for extension of the loan period. The loan replaces the financing agreement that was signed in October 2018 of a EUR 160 million long-term loan and a EUR 20 million revolving credit facility. The revolving credit facility has been unutilised. The margins of the financing agreement are linked to Enento Group´s financial covenants and include an option to link the margin also to sustainability criteria in the future. OP Corporate Bank, Danske Bank and Nordea Bank were acting as Mandated Lead Arrangers and Bookrunners. OP Corporate Bank acted

Nordic American Tankers Ltd (NYSE: NAT) – Solid rates and earnings23.9.2022 14:55:12 CEST | Press release

Friday, September 23, 2022 Dear Shareholders and Investors, This is to reconfirm that the business of NAT(rates, earnings) is solid and prospects are good. For contacts, please see at the end of this communication. Sincerely, Herbjorn Hansson Founder, Chairman & CEO Nordic American Tankers Limited CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS Matters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and

Rolf Jansson appointed acting Managing Director of Leipurin23.9.2022 12:00:00 CEST | Press release

Aspo Plc Stock exchange release September 23, 2022 at 1 p.m. Rolf Jansson appointed acting Managing Director of Leipurin The last workday of Heli Arantola, CEO of Aspo Group subsidiary Leipurin, has been specified as September 30, 2022. As announced on Aspo’s stock exchange release on June 27, 2022, Arantola has resigned to join another company. Aspo Group’s CEO Rolf Jansson will take on the role of acting Managing Director of Leipurin from October 1, 2022. In addition, Aspo’s Vice President of Corporate Development Mikko Heikkilä takes responsibility for Leipurin’s selected strategic projects. The selection process for Leipurin’s new Managing Director is underway. Aspo Plc Rolf Jansson CEO Further information, please contact: Rolf Jansson, CEO, Aspo Plc, tel. +358 400 600 264, rolf.jansson@aspo.com Distribution: Nasdaq Helsinki Key media www.aspo.com Aspo creates value by owning and developing business operations sustainably and in the long term. Our companies aim to be market leaders

Norsk Hydro: Primærinnsider Helena Nonka selger aksjer23.9.2022 11:20:00 CEST | Pressemelding

Helena Nonka, konserndirektør for Corporate Development, har den 23. september 2022 solgt 1528 aksjer til 59,58 kroner per aksje. I mai 2022, ble Helena Nonka tildelt disse 1528 aksjene under langtidsinsentivprogrammet (LTI) som medlem av konsernledelsen. Helena Nonka har besluttet å forlate Hydro, og hennes siste dag vil være 30. september 2022. Provenyet fra salget skal tilfalle Norsk Hydro ASA. Denne opplysningen er informasjonspliktig etter verdipapirhandelloven §5-12. Investorkontakt: Line Haugetraa +47 41406376 line.haugetraa@hydro.com Mediakontakt: Halvor Molland +47 92979797 Halvor.Molland@hydro.com Vedlegg KRT 1500 Helena Nonka 2022 23 09