fox e-mobility AG: Atlas refinancing

fox e-mobility AG / Key word(s): Financing/Contract
fox e-mobility AG: Atlas refinancing

22-Apr-2024 / 19:23 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Atlas refinancing

The Management Board announces that the three-year framework agreement concluded with Atlas Special Opportunities LLC ("Atlas") on April 20, 2021 for interest-free convertible debt financing has been extended by 15 months until July 20, 2025 and converted into a 10% p.a. interest-bearing financing. The company still has EUR 22 million available for convertible debt financing.

At the same time, the conversion rights of the 15 convertible bonds already issued (total volume: nominal EUR 1.5 million) were also extended until July 20, 2025 and interest at 10% p.a. was agreed retroactively from April 20, 2023.

As part of this refinancing, the company has also undertaken to redeem a total of 5 convertible bonds from Atlas against payment of EUR 500,000, depending on the implementation of the Yangji investment, but in any case, no later than July 31, 2024. The company has the option of making the payment also in the form of treasury shares or shares in Fox Automotive Switzerland AG.

 The company will assign 7,500 shares (7.1%) in Fox Automotive Switzerland AG to Atlas as collateral to secure the maximum compensation obligation of EUR 1.5 million due in the event of conversion below a market price of EUR 1.05.



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22-Apr-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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