FOX E-MOBILITY AG EQS-News: fox e-mobility AG: Atlas refinancing and financing strategy
Transparency directive : regulatory news
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EQS-News: fox e-mobility AG
/ Key word(s): Financing/Contract
Atlas refinancing and financing strategy In a first step to secure financing until the end of 2025, fox e-mobility AG and Atlas Special Opportunities LLC ("Atlas") have extended the expiring three-year framework agreement on interest-free convertible debt financing by 15 months until 20 July 2025 and converted it into a 10% p.a. interest-bearing financing secured via Fox Automotive Switzerland AG. See below the details/link of the Ad-hoc announcement of 22 April 2024: fox e-mobility AG: Atlas refinancing | Ad-hoc - EQS News (eqs-news.com) fox e-mobility AG has thus secured the financing option via convertible bonds with a volume of EUR 22 million with a financially strong partner. Atlas is a joint venture between Atlas Capital Markets Ltd, London and Arena Investors LP, New York. It is intended to use this financing option as far as possible. Regarding the remaining liabilities, agreements on refinancing up to the end of 2025 and security arrangements with the Liechtenstein asset manager Cime Invest AG and lenders from the shareholder base are partly ready for finalisation. Based on the renewed written irrevocable commitments from Yangji, the Management Board continues to assume that the Yangji Group's 10 million investment will take place in 2024 despite the delays in 2023. fox e-mobility AG intends to adhere to its strategy of equity and debt financing via strong partners but without bank loans. The aim is to involve partners not only from the financial sector, but also from the automotive and energy sectors via equity financing.
23.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | fox e-mobility AG |
| Königsallee 61 | |
| 40215 Düsseldorf | |
| Germany | |
| Internet: | www.fox-em.com |
| ISIN: | DE000A2NB551 |
| WKN: | A2NB55 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg |
| EQS News ID: | 1887239 |
| End of News | EQS News Service |
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1887239 23.04.2024 CET/CEST