further refinancing in the amount of EUR 3.5 million

       Further refinancing in the amount of EUR 3.5 million

The Management Board announces that, in addition to the Atlas refinancing (see ad hoc of April 22, 2024), the company has today carried out a further refinancing with 20 creditors for a total amount of EUR 3.5 million. The liabilities will be repaid in tranches linked to the receipt of the tranche from the Yangji investment. As part of the refinancing, the creditors also have the option to opt for hybrid financing until the respective liability is settled in full and to subscribe to a short-term convertible bond with 13 short-term exercisable option rights per convertible share.  To secure the refinancing, a total of 26,240 shares in Fox Automotive Switzerland AG (24.9% of total shares) were pledged as collateral to the creditors.

The due liabilities and provisions for deliveries and services not included in the refinancing amount to approximately €100,000.

The publication of the audited annual financial reports for 2022 and 2023 will be delayed until May/June 2024.

The company will publish a detailed press release on Thursday, May 2, 2024.