Cosmos Health issues €4.1M secured note to Cana Holdings; acquisition planned by March 31, 2023

Cosmos Health Inc.

Cosmos Health issued a €4.1M secured promissory note to Cana Holdings, bearing interest at 5% + 1-month LIBOR, maturing in 5 years.
Note is secured by share pledges over all shares of Cana Holdings and its subsidiary Cana Pharmaceutical.
This is the first step of a two-step transaction; the second step is acquisition of all Cana Holdings shares by Cosmos Health by March 31, 2023.
Proceeds may not be used for capitalization or debt repayment without Cosmos Health's consent.
Cross-default provision: a default under any other financial instrument causing Material Adverse Effect can trigger default under this note.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.95

Cosmos Health Inc. entered into Secured Promissory Note with Cana Laboratories Holdings (Cyprus) Limited valued at 5,000,000 EUR (effective 2023-02-28).

Action: entry
Agreement: credit facility
Counterparty: Cana Laboratories Holdings (Cyprus) Limited
Value: 5,000,000 EUR
Effective: 2023-02-28

Exact text from the filing

On February 28, 2023, Cosmos Health Inc. (the “Company”) was issued a five-year secured promissory note (the “Note”) in the principal amount of 4,100,000.00 EUR by Cana Laboratories Holdings (Cyprus) Limited, a corporation organized under the laws of the Republic of Cyprus (“Cana Holdings”).

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Source: SEC EDGAR

accession 0001477932-23-001328

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