SFC Energy AG: EUR 5 million capital measure lowers financing cost and strengthens liquidity
DGAP-News: SFC Energy AG / Key word(s): Corporate Action SFC Energy AG - Corporate News SFC Energy AG: EUR 5 million capital measure lowers financing cost and strengthens liquidity Brunnthal/Munich, August 4, 2017 - The Management Board of SFC Energy AG (ISIN: DE0007568578), a leading provider of hybrid power solutions to the stationary and mobile power generation markets, with approval of its Supervisory Board, has agreed on a financing concept with Harbert European Growth Capital Fund II ("Harbert") comprising the issuance of a secured fixed rate bond (Schuldverschreibung) with a nominal amount of EUR 4,997,500.00, the provision of collateral and the issuance of an option bond. The Company receives gross proceeds in the amount of EUR 5.0 million. The cash inflow from the capital measure is intended to be used for the repayment of loans, to further strengthen the liquidity base and the international roll out of the business. The secured fixed rate bond has a nominal amount of EUR 4,997,500.00 and shall amortize on a straight line basis with a final maturity date of December 31, 2018. The option bond was issued to Harbert on the basis of the resolution of the ordinary general meeting of the Company of June 14, 2016, by way of private placement under exclusion of the shareholders' subscription rights. The option bond has a nominal amount of EUR 2,500.00, a term until 2022, and shall bear interest on their principal amount at the rate of 4.0% per annum. The issue price was set at 100% of the nominal value. The option bond has attached to it option rights granting the right to acquire 204.700 no-par-value bearer shares of the Company each with a notional amount of EUR 1.00 in the share capital at an option price of EUR 3.6639. Dr. Peter Podesser, CEO of SFC Energy AG, explains the strategic importance of the agreement with Harbert: "Harbert is a strong partner with a convincing longterm strategy, we are delighted to have them onboard. With this capital measure and the repayment of a higher interest loan we are reducing our finance costs, while at the same time improving our liquidity. This will help us primarily to further drive the development of our industry and defense business, especially in the U.S. and Canada." "SFC Energy is the first investment from our new fund and is a great example of a European technology business with global growth ambitions. We see significant growth potential in sustainable energies, and in the defense and security sector", says David Bateman, Senior Managing Director of Harbert European Growth Capital Fund. "We have been following SFC Energy and their business model for quite some time, and are delighted to be chosen as a value-added partner with the expertise to provide long term capital that was as innovative as the business." About SFC Energy Group About Harbert European Growth Capital ("HEGC") About Harbert Management Corporation ("HMC") Contact: CROSS ALLIANCE communication GmbH Harbert European Growth Capital
04.08.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |