(Boursier.com) — McPhy Energyspecialist in low-carbon hydrogen production and distribution equipment (electrolyzers and recharging stations), announces the provision of additional information concerning a planned issue of bonds convertible into new shares and/or exchangeable into existing shares ( OCEANEs), maturing 5 years after their issue to the benefit of EDF Pulse Holding and EPIC Bpifrance, acting on behalf of the French State within the framework of the French Tech Sovereignty Convention dated December 11, 2020, for a total nominal amount of €30 million, subject to resolutions whose approval is submitted to the General Meeting of Shareholders to be held on May 30, 2024.
The company will study the possibility of issuing an additional amount for the benefit of other investors depending on market conditions.
As previously communicated, the main financial conditions of these Bonds would be as follows:
The Bonds would be issued and redeemed at par, would bear annual interest of 8%, payable annually and would have a maturity of 5 years;
The conversion price of the Bonds would result in a premium of 20% over the reference price determined on the issue date;
Conversion (partial or total) may be requested by holders at any time from their issue until their expiry. In the event of a conversion request, the Company may deliver new and/or existing shares and/or an amount in cash (determined on the basis of the share price at the time of the conversion request).
The net proceeds from the Issue will enable the Company to finance its working capital requirements and its general cash flow needs, in particular the development of its commercial activity, production tools and research and development activities.
The additional information relating to the Issue concerns in particular the terms of the Bonds, the legal framework of the Issue as well as the risk factors linked to it and to the company and the potential dilution induced by this Issue on the situation of the shareholders.
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