Airway Medix S.A. secures investment and signs convertible loan agreement with Tiger International
Tiger International RE GmbH grants Airway Medix a convertible loan of up to USD 3.2 million, with USD 1.6 million in a first tranche. The loan converts into new shares at PLN 0.34 per share.
Warsaw, November 20, 2024: The Management Board of Airway Medix S.A. announces the successful completion of talks with its American partner, Tiger International RE GmbH, a subsidiary of Tiger BioSciences LLC. On November 18, 2024, a convertible loan agreement was signed, under which Tiger International RE GmbH will provide Airway Medix S.A. with a loan of up to USD 3.2 million.
Under the terms of the agreement, the first tranche of USD 1.6 million will be disbursed within five business days of signing, with the remaining optional tranche available within eight months. The loan will bear market interest rates and will be repaid through conversion into new shares at a price of PLN 0.34 per share.
"This is a key milestone for the company. Things will now move much faster. The funds will be used to open the US and European markets and start mass sales. We have been working on this for months. We are ready to start large-scale production, are working intensively in the regulatory field, and are expanding the sales department. We have acquired international partners with a structured sales and distribution network. We are in talks with major industry players, especially in the US and Asia, for strategic cooperation," said Anna Aranowska, Board Member of Airway Medix.
Tiger International RE GmbH, part of the U.S.-based investment group Tiger BioSciences LLC, is a leading manufacturer and provider of solutions in the wound care market, with annual sales exceeding USD 1 billion. Tiger BioSciences specializes in regenerative medicine, offering advanced cell and tissue therapies. The company conducts innovative research and development in tissue engineering and processing. The group includes companies such as Extremity Care, BioSTAR Medical, RegenTX, RegenTX Labs, BioCreations Medical, Lizard Health Technologies, BioCare Donor Tissue Network, and Tiger Aesthetics. Tiger BioSciences' clients range from hospital care to home care providers across the United States. The company is investing heavily in expanding its product portfolio and sales in the European Union.
About Airway Medix S.A.: Airway Medix S.A. focuses on the research, development and commercialization of innovative single-use devices for mechanically ventilated patients in Intensive Care Units (ICUs), as well as life-threatening patients and anesthesiology departments. The products offered by Airway Medix address the most pressing clinical needs and fill a gap in current medical devices. Airway Medix S.A. has been listed on the Warsaw Stock Exchange since 2014.
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