fox e-mobility AG issues first tranche of the mandatory convertible bond with Atlas Capital with a nominal amount of EUR 3 million

fox e-mobility AG issues first tranche of the mandatory convertible bond with Atlas Capital with a nominal amount of EUR 3 million
 

Munich, 21 June 2021. fox e-mobility AG (ISIN: DE000A2NB551), a European electric vehicle company that specializes exclusively in the production, marketing, and development of compact electric cars in the lower price segment for individual passenger transport and logistical applications, has successfully completed the issuance of the first tranche of convertible bonds in the nominal amount of EUR 3 million.

These mandatory convertible notes represent the first tranche of a total issue of up to EUR 25 million, the successful placement of which was secured by an agreement between Atlas Capital Ltd. ("Atlas Capital") and the company in April. In the future, the Executive Board of the company will decide independently on the possible issuance of further tranches, in each case after the conversion of the already issued tranches has been completed. Also, further progress with regard to securing the total financing requirement of approximately EUR 160 million for development of the MIA 2.0 and operational costs plays a role here.

The convertible bonds will be issued excluding shareholders' subscription rights at a subscription price of 95% of the nominal amount exclusively to Atlas Capital and do not bear interest. The term is 3 years and the convertible bonds are convertible into shares of the company by the holder at any time. The conversion price is determined taking into account a 5% discount on the 5-day volume weighted average price of the fox e-mobility share at the time of conversion.


About fox e-mobility AG
fox e-mobility AG is a European electric vehicle company that specializes in the production, marketing and further development of compact electric cars in the lower price segment for both, individual passenger transport as well as logistical applications. The new MIA 2.0 model series is to be manufactured in Europe in cooperation with well-known suppliers to the electrical and automotive industries. The management team consists of seasoned managers and engineers from the world's largest automotive groups who have in-depth expertise and a comprehensive network for electro-mobility.
For more information, please visit http://www.fox-em.com.

Press contact
Dr. Walter Glogauer
fox e-mobility AG
Phone +49 8806 95 483
Email w.glogauer@glogauer.de

Jan Hutterer
Kirchhoff Consult AG
Phone +49 40 60 91 86 65
Email fox@kirchhoff.de

IR contact
ir@fox-em.com