SLM Solutions announces the placement of a first tranche of convertible bonds with a volume of 15 million euros and a coupon of 2 percent. The securities are due in 2026 and can initially be converted into up to around 2.22 million new shares in SLM Solutions at EUR 6.75. “The subscription offer was aimed exclusively at holders of the company’s shares and holders of the 2017/2022 convertible bonds issued by the company in 2017,” said the Lübeck company on Tuesday.
The net proceeds from the placement were EUR 14.5 million. Dirk Ackermann, CFO of SLM Solutions, announced that the money should support ongoing business operations and finance investments in important strategic areas such as the next-generation SLM machine and the international sales and service network of the North Germans.
“Many of our existing shareholders and owners of the 2017/2022 convertible bond have exercised their subscription rights, thereby signaling their support for our current strategy. We will use the additional funds to safely guide SLM Solutions through the COVID-19 pandemic, ”said Meddah Hadjar, CEO of SLM Solutions.
At a glance – chart and news: SLM Solutions Group