fox e-mobility AG issues the first tranche of the mandatory convertible bond with Atlas Capital with a nominal amount of 3 million euros

DGAP-News: fox e-mobility AG / Keyword (s): Funding
21.06.2021 / 07:15
The issuer is solely responsible for the content of this advertisement.

fox e-mobility AG issues the first tranche of the mandatory convertible bond with Atlas Capital with a nominal amount of 3 million euros

Munich, June 21, 2021. fox e-mobility AG (ISIN: DE000A2NB551), a European electric vehicle company that specializes exclusively in the production, marketing and development of compact electric cars in the lower price segment for individual passenger transport and logistics applications , successfully completed the issuance of the first tranche of convertible bonds with a nominal amount of € 3 million.

These mandatory convertible bonds represent the first tranche of a total issue of up to € 25 million, the successful placement of which was guaranteed by an agreement between Atlas Capital Ltd. (“Atlas Capital”) and the company in April. In the future, the management board of the company will decide independently on the possible issuance of additional tranches, in each case after the conversion of the previously issued tranches has been completed. In addition, further progress in securing the total funding requirement of around 160 million euros for the development of MIA 2.0 and operational costs play a role here.

The convertible bonds will be issued excluding shareholder subscription rights at a subscription price of 95% of the nominal amount exclusively for the benefit of Atlas Capital and will not bear interest. The term is 3 years and the convertible bonds are convertible into company shares by the holder at any time. The conversion price is determined taking into account a 5% discount on the 5-day volume-weighted average price of the fox e-mobility share at the time of conversion.

About fox e-mobility AG
fox e-mobility AG is a European electric vehicle company specializing in the production, marketing and further development of compact electric cars in the lower price segment for individual passenger transport as well as for logistics applications. The new MIA 2.0 model series is to be manufactured in Europe in cooperation with renowned suppliers to the electrical and automotive industry. The management team is made up of seasoned managers and engineers from the world’s largest automotive groups who have in-depth expertise and a comprehensive network for electromobility.
For more information, please visit http://www.fox-em.com.

Press contact
Dr Walter Glogauer
fox e-mobility AG
Phone +49 8806 95 483
E-mail [email protected]

Jan Hutterer
Kirchhoff Consult AG
Phone +49 40 60 91 86 65
E-mail [email protected]

infrared contact
[email protected]

06.21.2021 Distribution of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this advertisement.

DGAP’s distribution services include regulatory announcements, financial / corporate news, and press releases.
Archives on www.dgap.de


Source link

About Glenda Wait

Check Also

Race remains a strong element in the growth of Chicago communities

When Sari Schwartz returned to the Chicago area after six years in Los Angeles, she …

Leave a Reply

Your email address will not be published. Required fields are marked *