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ISS - Delisting of all financial instruments issued by the Company following the extraordinary general meeting of November 28, 2023

Company: eureKING Date: 2023-11-24 Language: English Register to download
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*Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia or South Africa or any other jurisdiction in violation of the relevant laws of such jurisdiction.*

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# **Delisting of all financial instruments issued by the Company following the extraordinary general meeting of November 28, 2023**

**Paris, France, November 24, 2023** – eureKING (ISIN: FR0014009ON9, Euronext Paris, the "**Company**"), the first European special purpose acquisition company ("**SPAC**") in healthcare dedicated to bioproduction, announces the proposed timetable regarding the delisting of all financial instruments issued by the Company in the event of the approval by the shareholders of the early dissolution of the Company at the extraordinary general meeting to be held on November 28.

The shareholders of eureKING are called to approve the early dissolution of the Company at the extraordinary general meeting to be held on November 28, 2023 (the "**Extraordinary General Meeting**"). At the same meeting, shareholders will also be asked to vote on the acknowledgment that the Founders' Warrants (*BSAR A*) and Market Warrants (*BSAR B*) have lapsed, in accordance with their terms and conditions and on the delisting of the Company's financial instruments admitted to trading on the regulated market of Euronext Paris.

In the absence of an Initial Business Combination on the Initial Business Combination Deadline[1](#page-0-0) , the Founders' Warrants (*BSAR A*) and the Market Warrants (*BSAR B*) will be definitively deprived of any right of exercise and will expire worthless in the context of the forthcoming liquidation, if approved by the shareholders, in accordance with their respective terms and conditions, the Company's articles of association and the IPO Prospectus.

As a result of the Company's early dissolution, and assuming a favourable vote by the shareholders, (i) the listing of the Market Warrants (*BSAR B*) and the Market Shares (*actions de préférence de catégorie B*) will be suspended as from November 28, 2023, and (ii) the Market Warrants (*BSAR B*) and the Market Shares (*actions de préférence de catégorie B*) will be delisted from the regulated market by Euronext Paris as of November 29, 2023, it being specified that the Market Shares (*actions de préférence de catégorie B*) will remain admitted to Euroclear France. Therefore, as from this date, no further financial instruments of the Company will be admitted to trading on Euronext Paris.

A timetable for the next steps is provided below.

## *Proposed timetable*

| November 24, 2023 | Publication of a notice by Euronext Paris relating to:                                                                                                                                 |
|-------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                   | - the suspension of trading of the Market Shares<br>(actions de préférence de catégorie B) from<br>November 28, 2023 and their delisting by Euronext<br>Paris as of November 29, 2023. |

<span id="page-0-0"></span><sup>1</sup> As described in the prospectus approved by the French *Autorité des marchés financiers* on 6 May 2022, under number 22-134, in connection with eureKING's initial public offering (the "**IPO Prospectus**").

*Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia or South Africa or any other jurisdiction in violation of the relevant laws of such jurisdiction.*

|                                          | - the suspension of trading of the Market Warrants<br>(BSAR B) from November 28, 2023 and their<br>delisting by Euronext Paris as of November 29, 2023;                                |
|------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| November 28, 2023, before markets open   | Suspension of trading of the Market Shares (actions<br>de préférence de catégorie B) by Euronext Paris.<br>Suspension of trading of the Market Warrants<br>(BSAR B) by Euronext Paris. |
| November 28, 2023, 11.00 am (Paris time) | Extraordinary General Meeting.                                                                                                                                                         |
| November 29, 2023, before markets open   | Delisting of the Market Shares (actions de préférence<br>de catégorie B) by Euronext Paris.<br>Delisting of the Market Warrants (BSAR B) by<br>Euronext Paris.                         |

Following the Extraordinary General Meeting, if the early dissolution is approved, the liquidator appointed at the Extraordinary General Meeting will proceed with the liquidation of the Company. Thus, after paying-up the Company's creditors and extinguishing its liabilities, it will distribute cash remaining available pursuant to article 27.2 of the Company's articles of association, i.e.:

- repayment of the nominal value of each Market Share (*action de préférence de catégorie B*) (€0.01),
- repayment of the nominal value of each Founders' Share (*action de préférence de catégorie A*) (€0.01),

- distribution of the liquidation surplus in equal parts between Market Shares (*actions de préférence de catégorie B*), up to a maximum amount per Market Share (*action de préférence de catégorie B*) equal to the issue premium (excluding nominal value) included in the subscription price per Market Share set on the initial issuance of Market Shares (*actions de préférence de catégorie B*) (i.e. €9.99),

<span id="page-1-3"></span><span id="page-1-1"></span>- payment of a liquidation premium of €0.30 per Market Share (*action de préférence de catégorie B*), except for the holders who have decided to forgo this premium<sup>2</sup>  [\(](#page-1-0)the Founders<sup>3</sup> [\)](#page-1-2), and

<span id="page-1-5"></span>- payment of the At-Risk Capita[l](#page-1-4)<sup>4</sup> to the holders of Founders' Shares (*actions de préférence de catégorie A*), and

- distribution, if any, of the liquidation surplus balance in equal parts between the Founders' Shares (*actions de préférence de catégorie A*) and the Market Shares (*actions de préférence de catégorie B*).

As it was indicated in the IPO Prospectus, there is no guarantee that the holders of Market Shares (*actions de préférence de catégorie B*) will be repaid the €10.00 subscription price and, for those that are entitled to it, the €0.30 premium, notwithstanding the commitment by the Initial Founders to cover any shortfall. At this stage, it

<span id="page-1-0"></span><sup>2</sup> As defined in the IPO Prospectus.

<span id="page-1-2"></span><sup>3</sup> As defined in the IPO Prospectus.

<span id="page-1-4"></span><sup>4</sup> As defined in the Company's articles of association.

*Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia or South Africa or any other jurisdiction in violation of the relevant laws of such jurisdiction.*

already appears that the estimation of the amount that would remaining available after the creditors have been paid-up will not be sufficient.

# **MEDIA CONTACTS**

**Image Sept** Leslie Jung-Isenwater / Sergio de la Calle / Florence

Coupry [eureking@image7.fr](mailto:eureking@image7.fr) +33 (0)1 53 70 74 70

## *Disclaimer*

*On June 6, 2023, J.P. Morgan terminated its association with eureKING and waived any fees and compensation in connection with such association. On the same day, J.P. Morgan also waived its entitlement to the payment of any deferred compensation in connection with its role as underwriter in eureKING's initial public offering. J.P. Morgan has informed eureKING that it is not responsible for any portion hereof.*

#### *About eureKING*

*Founded in March 2022, eureKING is a French SPAC (Special Purpose Acquisition Company) formed with the aim of acquiring European companies in the field of cutting-edge biomanufacturing, with the ambition of creating a leading bio CDMO in Europe capable of meeting the growing outsourcing needs of this industry. eureKING has chosen to focus on three highly specialized and strategic segments of the biopharmaceutical industry: the production of biologics, in particular new generations of monoclonal antibodies or complex proteins, the production of cell and gene therapies and the production of live biotherapeutics (with applications in the microbiome).* 

*With a €150 million capital raising in May 2022, eureKING is led by an international management team of experienced healthcare industry talent, 100% dedicated to the SPAC project and its development strategy. eureKING is supported by a Board of Directors with complementary pharmaceutical and financial expertise to achieve its goal of developing and promoting the promising biomanufacturing sector in Europe on an international scale.* 

*eureKING is listed on the professional compartment of Euronext Paris since May 12, 2022.* 

*www.eureking.com*