The bond of Pentracor GmbH is a fixed-income security (owner bond with possible conversion right) and can be purchased at a nominal value of 1,000 euros each in the context of a private placement with a minimum subscription sum of 100,000 euros. It is expected that from 29 May 2019, the bond will be included in trading on the open market (open market) of the Frankfurt Stock Exchange and will be tradable there.
The 8.5% coupon is valid for the entire five-year term and is paid annually on 29 May of each year (first time 2021). At the end of the term, the bond will be added at 120.00 % plus interest accrued to the creditors.
The funds raised will be used specifically to implement the growth strategy with large-scale product roll-out, in particular for expanding production, expanding sales, further clinical trials and FDA approval for U.S. market entry.
The terms of the bond include, inter alia, the following rules on the rights of bondholders:
- Negative obligation
- Third-party delay
- Distribution restriction
- Dilution protection
- Change of control
Details can be found in the bond terms (see financial publicationssection )