- 1.9m EUR of total of 4.0m EUR already placed
- Convertible bond will be admitted to trading on the Stuttgart Stock Exchange
- Foundation for further growth laid
OTI Greentech AG, a fast growing international Cleantech-solutions provider, whose shares are traded on the Düsseldorf Stock Exchange, has completed the issue of the first tranche of a convertible bond in the amount of 1.9m EUR with investors and the admission of the bond for trading on the Stuttgart Stock Exchange. In doing so, the company has completed a further important step in implementing its growth strategy. A total of 4.0m EUR of convertible debt is being offered to investors by way of private placement.
The bond carries a coupon of 8.5% per annum, paid semi-annually, as well as a right to convert into common stock of OTI Greentech AG at a conversion price of 1.65 EUR. The term of the bond runs for 3.5 years until 30.10.2018. The company will use the proceeds from the bond towards increasing operational resources in order to support the growth of the company. In particular, investments in R&D and patents are planned, as well as an equity increase in VTT, the subsidiary active in maritime operations.
“We will be using the proceeds of the bond to support our growth strategy”, commented Johnny Christiansen, CEO of OTI Greentech AG on the successful part placement.