EQS-News

BRAIN Biotech AG successfully placed EUR 5.0 million convertible bond for the financing of further growth initiatives

EQS-News: BRAIN Biotech AG / Key word(s): Bond BRAIN Biotech AG successfully placed EUR 5.0 million convertible bond for the financing of further growth initiatives 29.02.2024 / 20:40 CET/CEST The issuer is solely responsible for the content of this announcement. BRAIN Biotech AG successfully placed EUR 5.0 million convertible bond for the financing of further growth initiatives

Zwingenberg, Germany, 29 February 2024 – At its meeting today and with the approval of the Supervisory Board, the Management Board of BRAIN Biotech AG has resolved, to issue convertible bonds in the total nominal amount of EUR 5.0 million, making partial use of the authorization of the ordinary annual general meeting on 8 March 2023. The subscription rights of existing shareholders of the Company have been excluded. The placement has been executed entirely in the form of a private placement to MP Beteiligungs-GmbH.

The convertible bonds bear interest at a rate of 6.52 % p.a. on the nominal amount. The initial conversion price of EUR 5.04 was set with a conversion premium of 27 % above the reference share price of EUR 3.97. The maturity date is 5 September 2026.

BRAIN Biotech AG intends to use the net issue proceeds for the financing of growth initiatives and general corporate financing purposes.

Adriaan Moelker, CEO BRAIN Biotech AG, stated: “I would like to thank our anchor shareholder, MP-Beteiligungs-GmbH, for their continued support on our growth path. This successful transaction is another clear sign of confidence in our business strategy.” Michael Schneiders, CFO BRAIN Biotech AG, added: “This financing initiative via an equity linked transaction adds to our financing toolbox which is majorly focused on non-dilutive instruments. At our upcoming AGM on March 12th, we will ask our shareholders to approve a total of EUR 5 million non-dilutive silent participations. With these measures, we view ourselves as adequately financed for the foreseeable future.”