(Boursier.com) — Forsee Powerexpert in intelligent battery systems for sustainable electromobility, announces the drawing of a tranche of 10 million euros from the European Investment Bank (EIB) as part of the credit agreement of a maximum amount in principal of 50 million euros signed with this institution in December 2020.
Drawdown of Tranche C
As of 06/30/2023, the Company had two unused financing lines of €10 million each (Tranches C and D) contracted with the EIB.
The drawing of Tranche C for 10 million euros was conditional on prerequisites (i) achieving consolidated turnover which the group had already achieved at the close of the 2020 financial year and ( ii) carrying out a capital increase of an amount greater than 10 million euros, which was carried out in November 2021 with the company’s IPO. It is this Tranche C which is the subject of the drawing and which will be paid on December 18, 2023 bearing an annual interest of 3% and a capitalized interest of 1.5% payable ultimately upon repayment of the principal (maturity 5 years ). These financing conditions remain competitive compared to current financing conditions.
The company also has the possibility of drawing on a Tranche D in the amount of 10 million euros subject to the achievement of certain conditions, which have not been met to date.
The drawing of this Tranche C has already given rise on December 4, 2023, on the basis of the twenty-fourth resolution adopted by the combined general meeting of June 23, 2023, to the issue for the benefit of the EIB of 1,000 new bond notes. subscription of so-called “BEI E” shares with an exercise price of 5.78 euros per BSA, each BSA giving the right, in the event of exercise, to the subscription of a maximum of 300 new ordinary shares of the Company ( i.e. 0.0004% of the share capital per BSA, on an undiluted basis).
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