DGAP-News

fox e-mobility AG successfully concludes financing through mandatory convertible bonds for EUR 25 million

DGAP-News: fox e-mobility AG / Key word(s): Corporate Action fox e-mobility AG successfully concludes  financing through mandatory convertible bonds for EUR 25 million 22.04.2021 / 07:00 The issuer is solely responsible for the content of this announcement. fox e-mobility AG successfully concludes  financing through mandatory convertible bonds for EUR 25 million

• New Financing secures next development steps for electric vehicle MIA 2.0
• Attractive conditions and further strengthening of equity base
• Atlas Capital Capital Markets Limited as an experienced investor in the electro mobility sector

Munich, April 22, 2021. fox e-mobility AG (ISIN: DE000A2NB551), a European electric vehicle company that specializes in the production, marketing and further development of compact electric cars in the lower price segment for individual passenger transport and logistical applications, reports on the first large Company financing agreement.

fox e-mobility AG has signed a framework agreement with the London-based asset management group, Atlas Capital Markets Limited (ACM), for a growth financing of up to EUR 25 million. The agreement provides for the issue of up to EUR 25 million (non-interest-bearing) mandatory convertible bonds within a time frame of up to three years. In the contract, ACM undertakes, under certain conditions, to subscribe to the convertible bonds issued by fox e-mobility AG. The bonds are privately placed without a prospectus. In addition, until December 30, 2022, when bonds are converted into shares, ACM has the right to purchase additional shares for 30% of the converted shares at an issue price of EUR 2.50. This not only means an additional strengthening of the equity base of fox e-mobility AG but also is a significant step to finance the development of the MIA 2.0. The management board and the supervisory board of fox e-mobility AG intend to resolve the issue of the first tranche of convertible bonds under the framework agreement in the foreseeable future.