Rapid Nutrition : Successfully Completes Funding Agreement to Support Accelerated Global Growth

London, United Kingdom – Feb. 25, 2022 – Rapid Nutrition PLC (Euronext Growth: ALRPD, OTCQB: RPNRF), a pure wellness firm targeted on natural wholefood-based vitamin and science-based natural merchandise, at the moment proclaims the signing of a financing dedication of as much as EUR 30 million from Negma Group, a diversified funding group, with the aim of strengthening its steadiness sheet and supporting company progress initiatives and growth of Rapid Nutrition globally.

“Executing on this technique will additional Rapid Nutrition’s progress in international markets and on-line, whereas supporting sustained worldwide demand for and curiosity in natural well being and wellness merchandise,” stated Rapid Nutrition CEO Simon St. Ledger. “Our board continues to push the boundaries by supporting and main by way of innovation in merchandise, enterprise growth, partnerships and progress initiatives to strongly help a robust however sustainable progress ahead, anchoring future earnings. This funding may also help the group’s investor relations initiatives and entry to significant capital market companies and liquidity, with our number-one precedence being to boost shareholder worth.”

In specific, the extra funding will help elevated demand on manufacturing on account of new distribution agreements secured over the previous 12 months, broaden its go-to market product innovation with a deal with the corporate’s patented anti-viral providing, and remove present loans to agency up the company steadiness sheet and stay well-capitalized main into the following part of worldwide progress and growth. With ongoing demand for well being, wellness and immunity merchandise remaining in response to the worldwide pandemic, Rapid Nutrition continues to develop distribution, partnerships and direct-to-consumer e-commerce choices whereas implementing its ‘purchase & construct’ technique for accelerated market penetration.

St. Ledger added that, “I’d prefer to thank all our traders and shareholders for his or her continued help and confidence in all our efforts. The profitable completion of this financing reinforces our place in a quickly rising sector, enabling us to develop sooner, be extra aggressive and are available out even stronger from the pandemic whereas additionally laying the muse for future progress.”

The financing dedication will enable Rapid Nutrition to pursue strategic acquisitions as a part of its accelerated progress technique.

The deal was efficiently accomplished, primarily based on the present resolutions in place¹. In consideration for the issuance of convertible notes, Negma Group has dedicated to take a position as much as EUR 30 million in tranches of as much as EUR 2 million every over a interval of 48 months. The principal quantity of every tranche¹ comes with warrants² connected at a premium. Each tranche is, at Rapid Nutrition’s discretion, by means of a convertible word.

About Rapid Nutrition

Dedicated to the event and distribution of premium, science-based well being and wellness manufacturers throughout the globe, Rapid Nutrition shares a wealth of award-winning merchandise with customers who’re enthusiastic about improvements which are “made by nature, refined by science.” Rapid Nutrition’s first-class scientific workforce matches the expertise of its administration workforce to maintain each the corporate and customers on prime of the newest trade developments and developments, whereas aligning with trade leaders worldwide to ship efficient dietary supplements and options. Rapid Nutrition goals to be the provider of selection globally by providing premium manufacturers with the highest-quality substances to ship most outcomes.

For extra data, please go to http://rnplc.com

Investor Relations Contact:

[email protected]

Disclaimer

1. In accordance with the authority and passing of decision 5 & 6 on the Companies AGM held on the 13^th May 2021, which such authorities shall expire on the conclusion of the following Annual General Meeting of the Company, except beforehand renewed, various or revoked. Capital Increases: In the occasion that the Company was to hold out such points sooner or later, shareholders would accordingly have their share curiosity within the Company diluted. 2. In respect of any Tranche ninety % (90%) of the bottom Daily VWAP over the interval of fifteen (15) Trading Days instantly previous the issuance of a Subscription Request for that Tranche. 3. For every tranche of the Convertible Bonds drawn by the Company, the Investor shall obtain transferrable Warrants entitling them to buy numerous shares within the Company equal to fifty % (50%) of the worth of the tranche, adjusted for the train premium, throughout a interval of Five (5) years (topic to customary changes).

Main traits of the Convertible Bond (“CB”)

The Issuer and the Investor have agreed to enter into this Agreement pursuant to which the Investor will subscribe for as much as 30,000 convertible mortgage notes, every such convertible mortgage word having a nominal worth of EUR€1,000 (the “Convertible Notes“), to be subscribed for by the Investor in 16 or extra tranches: a primary tranche of an aggregated worth of EUR €1,500,000 adopted by a second tranche of EUR €500,000 as soon as an equal quantity of the primary tranche has been transformed, adopted by subsequent tranches of as much as EUR €2,000,000 every over the course of the Commitment Period (the “Total Commitment“). As a situation to the signature of this Agreement and the dedication of the Investor to subscribe for the Convertible Notes, the Share Lender has agreed to lend shares to the Investor for the time period of the Agreement. The Issuer is absolutely conscious that with out such share mortgage, the Investor would by no means have (i) agreed to signal this Agreement; or (ii) dedicated to subscribe for Convertible Notes on the phrases set out within the Agreement. Furthermore, the Company has agreed to pay to the Investor a dedication payment in the course of the settlement by way of the issuance of 1’500 convertible notes with none warrants connected. During the Commitment Period, neither the Investor nor any of its Affiliates could quick promote any Shares or enter into any association pursuant to which Shares are quick offered on behalf of the Investor or any of its Affiliates.

“Conversion Period” means the interval throughout which Conversion could also be made in line with the Instrument and being for every Note issued below a Tranche the interval from the registration of the Notes and ending 48 months following the related Subscription Date (offered that the Conversion Period could also be shortened as set out herein).

“Conversion Price” the upper of the par worth of a Share and ninety % (90%) of the bottom Daily VWAP as calculated by BBG for the share on the Euronext Growth Exchange over the Pricing Period.

“Coupon” the CB will bear no curiosity.

“Conversion Ratio” the Conversion Ratio shall be decided in line with the next formulation:

N = Vn / P, the place:

N is the variety of Conversion Shares to be issued;

Vn is the principal quantity excellent in respect of the Notes in Euro; and

P is the Conversion Price in Euro.

“Daily VWAP” means the each day Volume Weight Average Price (“VWAP”) on Euronext Growth, in Euro (if the Ordinary Shares are traded on a European trade apart from the UK) as printed by Bloomberg LP (or ought to Bloomberg stop to exist or publish it, by some other monetary information and information service supplier of reference publishing dependable information on the Shares, it being understood that the VWAP shall be calculated in line with precisely the identical strategies as these utilized by Bloomberg), which is a buying and selling benchmark calculated by dividing the full worth buying and selling (sum of worth occasions commerce measurement) on a Trading Day by the full quantity (sum of commerce sizes) of trades for that Trading Day taking into consideration each qualifying transaction. Depending on the situation codes of the transaction and the situation codes included within the Bloomberg outlined VWAP calculation, a transaction could or might not be deemed qualifying. Historical values may additionally be adjusted on receipt of qualifying delayed trades”Directors”; the board of administrators of the Company, or a duly authorised committee of that board, in the interim.

The subscription to any tranches is on the sole discretion on the Issuer.

The Issuer will similtaneously the problem of every Tranche subject to the Investor such variety of Warrants as have an mixture train worth equal to 50% of 115% of the Subscription Price for such Tranche.

Main Characteristics of the Warrants connected to the Convertible Bonds

For every tranche of Convertible Bonds drawn by the Company, the Investor shall obtain Warrants entitling the Investor to buy numerous shares within the Company equal to fifty % (50%) of the worth of the tranche, adjusted for the train premium, throughout a interval of Five (5) years. The warrants shall be stripped from the convertible Bonds upon issuance of every tranche.

“Warrant pricing situations” the Exercise Price of the Warrants to be issued at every Tranche issuance shall be equal to at least one hundred and fifteen % (115%) of the VWAP of the 15 buying and selling days instantly previous the date of the request to subject such Tranche, aside from the primary Tranche for which the train worth shall be outlined as equal to at least one hundred and fifteen % (115%) of the bottom each:

1. the VWAP of the 15 buying and selling days instantly previous the signing of the Agreement.
2. the VWAP of the 15 buying and selling days instantly previous the request to subject the primary Tranche.

The Warrants might not be assigned or transferred with out the prior consent of the Issuer, besides to or for the advantage of Affiliates of the Investor.

The Warrants won’t be admitted to buying and selling on any monetary market.

The Investor shall switch to the Company and freed from cost, seventy 5 % (75%) of all Warrants acquired pursuant to this Agreement, which in flip shall distribute them to key members of the administration workforce in accordance with sure pre-determined efficiency aims.

In all circumstances, the train worth of the warrants divided by the Exercise Ratio might not be lower than the par worth of the Company’s shares.

In the occasion that the train worth of the Warrants theoretically relevant on the date of train of the Warrants is decrease than the nominal worth of the Company’s shares, the holder can pay an train worth for the Warrants equal to the nominal worth of the Company’s shares and can obtain numerous shares equal to the relevant Exercise Ratio, it being specified that he’ll on the identical time obtain a contractual indemnity in money of an quantity equal to the variety of Warrants exercised multiplied by the distinction between (i) the nominal worth of the Company’s shares and (ii) the theoretical train worth of the Warrants.

Modification of rights

If, at any time or on occasion there shall be any modification of the rights of conversion, trade or subscription attaching to any such securities (apart from in accordance with the phrases (together with phrases as to adjustment) relevant to such securities upon subject) or to the rights, choices, warrants or different rights to subscribe or buy as are talked about within the settlement in order that following such modification the consideration per Share receivable has been decreased and is lower than the Current Market Price per Share on the date of the primary public announcement of the proposals for such modification, the Warrant Exercise Price shall be adjusted by multiplying the Warrant Exercise Price in pressure instantly previous to such modification by the next fraction: A+B/A+C

the place:

“A” equals the variety of Shares in subject instantly earlier than such modification (however the place the related securities carry rights of conversion into or rights of trade or subscription for Shares which have been issued by the Issuer for the needs of or in reference to such subject, much less the variety of such Shares so issued);

“B” equals the variety of Shares which the mixture consideration (if any) receivable for the Shares to be issued or in any other case made obtainable upon conversion or trade or upon train of the suitable of subscription connected to the securities so modified would buy at such Current Market Price per Share; and

“C” equals the utmost variety of Shares which can be issued or in any other case made obtainable upon conversion or trade of such securities or upon the train of such rights of subscription connected thereto on the modified conversion, trade or subscription worth or fee however giving credit score in such method as an Independent Advisor shall, performing as an professional, think about applicable for any earlier adjustment in accordance with the Agreement

offered that if on the time of such modification (the “Specified Date”) such variety of Shares is to be decided by reference to the applying of a formulation or different variable function or the prevalence of any occasion at some subsequent time (which can be when such securities are transformed or exchanged or rights of subscription or in any other case are exercised or at such different time as could also be offered) then for the needs of the Agreement shall be decided by the applying of such formulation or variable function or as if the related occasion happens or had occurred as on the Specified Date and as if such conversion, trade, subscription or buy had taken place on the Specified Date.

Such adjustment shall turn into efficient on the date of modification of the rights of conversion, trade or subscription attaching to such securities. In the occasion the after the problem of a Warrant the Issuer points any share at a worth (“the Issue Price”) which is beneath the Exercise Price for that Warrant then the Exercise Price for that Warrant shall be decreased to the Issue Price. In the occasion that after the Issuer grants any rights, choices, warrants or different rights to subscribe for or buy any Shares at a worth (“the Subscription Price”) which is beneath the Exercise Price for the Warrant then the Exercise Price for that Warrant shall be decreased to the Subscription Price.

The new shares issued upon conversion of the CB or upon train of the Warrants shall be admitted to buying and selling on Euronext Growth topic to approval by Euronext. The new shares will rank pari passu in all facets.

The Company will preserve on its web site a desk of monitoring of Convertible Bonds and Warrants and the variety of shares excellent.

Theoretical affect of the Convertible Bonds and Warrants subject

For data functions solely, the affect of the shareholding of a shareholder that at the moment holds 1% of the Company’s share capital at €0.10 per share, topic to the Issuer subscribing to €3,000,000 in Tranches can be as follows:

	Shareholder’s curiosity (in share)
	Undiluted foundation	Diluted foundation (*)
Before subject of recent shares ensuing from the conversion of all of the Investment Agreement and the train of all of the warrants	1%	1%
After issuance of 300,000,000 new shares ensuing from the conversion of the CBs alone (**)	0.18%	0.18%
After subject of 150,000,000 new shares ensuing from the train of the Warrants alone (**)	0.31%	0.31%
After the problem of 450,000,000 new shares ensuing from the conversion of the CCs and the train of the warrants (*)	0.13%	0.13%

(*) after train of all present dilutive devices
(**) Based on a conversion and train worth of €0.01 per share. This dilution is with out prejudice to the ultimate variety of shares to be issued and their subject worth, which shall be decided on the idea of the market worth.

References :

1. The following essential situations have to be met for a Tranche to be drawn:
   1. the Company complies with its obligations below the Investment Agreement;
   2. no materials antagonistic adjustments have occurred;
   3. the Company has not entered into any commitments allowing a change of management;
   4. no occasion of default is in progress;
   5. the dedication interval has not expired;
2. The occasions of default embody particularly the delisting of the Company shares and sure circumstances of change of management of the Company.

This press launch accommodates forward-looking statements made pursuant to the protected harbor provisions of the Private Securities Litigation Reform Act of 1995 and or in any other case that contain dangers, uncertainties and assumptions that would trigger Rapid Nutrition PLCs precise outcomes and expertise to vary materially from anticipated outcomes and expectations expressed in these forward-looking statements. Rapid Nutrition PLC has in some circumstances recognized forward-looking statements by utilizing phrases akin to “anticipates,” “believes,” “hopes,” “estimates,” “seems to be,” “expects,” “plans,” “intends,” “aim,” “potential,” “could,” “counsel,” and related expressions. Rapid Nutrition PLC undertakes no obligation to launch publicly the outcomes of any revisions to any such forward-looking statements which may be made to replicate occasions or circumstances after the date of this press launch or to replicate the prevalence of unanticipated occasions, besides as required by relevant regulation or regulation.

This media data doesn’t represent a suggestion to promote, or a solicitation of a suggestion to purchase, any securities. This data doesn’t represent an providing prospectus throughout the that means throughout the that means of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 of June 2017 on the prospectus to be printed when securities are supplied to the general public or admitted to buying and selling on a regulated market, and repealing Directive 2003/71 or a list prospectus throughout the that means of the itemizing guidelines of the Euronext Exchange or OTC Markets. The media launch is in accordance with International Reporting Standard: Rule 12g3-2(b) below the Securities Exchange Act (‘Rule 12g3-2(b)’) permits non-U.S. corporations with securities listed totally on a Qualified Foreign Exchange to make publicly obtainable to U.S traders in English the identical data that’s made publicly obtainable of their house international locations as a substitute for SEC reporting Exchange Act Rule 12g3-2(b).