Valoe Corporation Issues a 3 Million Euro Convertible Bond. The Company Has Received Subscription Commitments of EUR 2.65 Million for the Convertible Bond. - Seite 2

For the moment, the company has received subscription commitments of approx. EUR 2.65 million for the Convertible Bond. Out of the subscription commitments, a total of EUR 1.65 million shall be paid in cash and approx. EUR 1.0 million shall be subscribed by setting off loans. 

Iikka Savisalo, CEO of Valoe Corporation: “We are pleased with the interest in Valoe's Convertible Bond. We have received subscription commitments from both old shareholders and new investors. The Convertible Bond will significantly improve the company's working capital situation.”

The shareholders' pre-emptive subscription rights are deviated from in connection with the issue of the convertible bond to secure the financing required to strengthen the working capital and the capital structure of the company cost-effectively and considering the size of the financing and to rearrange the Company’s existing loans in an economical way from the Company’s point of view. Thus, there is from the company's point of view a weighty financial reason to issue the special rights.

The company has one (1) class of shares.

The terms of the convertible bond are attached to this release as Attachment 1.

In Mikkeli on 19 January 2021

Valoe Corporation

BOARD OF DIRECTORS

For more information:
CEO Iikka Savisalo, Valoe Corporation
Tel. [phone]
email: [e-mail]

Distribution:
Nasdaq Helsinki Oy
Main media
www.valoe.com

Valoe Corporation specializes in the clean energy, especially in photovoltaic solutions. Valoe provides automated production technology for solar modules based on the company’s own technology; production lines for modules; solar modules and special components for solar modules. Valoe's head office is located in Mikkeli, Finland.

APPENDIX 1:

TERMS OF THE CONVERTIBLE BOND 1/2021 OF VALOE CORPORATION

 

The Board of Directors of Valoe Corporation (hereinafter "the Company") has, based on the authorization granted to it on 28 May 2020, resolved to take loan (hereinafter "Convertible Bond") so that the Company issues other special rights entitling to the shares pursuant to Chapter 10 of the Finnish Companies Act in the form of loan shares to the lenders of the loan so that the lenders shall have the right to subscribe for the Company's shares based on the respective special rights and that the lenders shall have the right to pay the subscription price of the shares by setting it off against the loan receivable referred to in this document.