cyan is launching a program to issue convertible bonds that can reach a total volume of up to 8.4 million euros. Shareholders will not receive any subscription rights for the planned issues, instead the non-interest-bearing convertible bonds will be subscribed to by NICE & GREEN SA from Switzerland. This is obliged to subscribe to the various planned tranches.
“The program comprises up to eight successive tranches, each with a total nominal amount of EUR 1.05 million. Each tranche will consist of 105 convertible bonds with a nominal value of EUR 10,000 per convertible, ”the company said. According to the information, only the first of the eight tranches is mandatory to issue, for all seven others cyan has the right, but not the obligation, to issue.
The conversion price will be set at 95 percent of the lowest daily volume-weighted average price of the last six trading days (XETRA) before the conversion right is exercised, but at least EUR 10.47.