HelloFresh starts buyback program for shares, convertibles

Chicago, Oct. 25 – Hellofresh SE is starting a €150 million buyback program for the company’s shares and its convertible bonds issued in May 2020, according to a press release.

The convertible bonds are expected to represent a smaller part of the program, limited to a €50 million nominal amount of the bonds.

The bonds are expected to be repurchased in small amounts on an opportunistic basis depending on price developments.

Any repurchases will be made through banks.

The company may not deploy the full €150 million.

The purpose is to cancel the repurchased shares and reduce the company’s share capital, or use the shares for the company’s employee equity incentive programs.

If any convertibles are repurchased, they will be canceled.

The buyback program starts at the earliest on Oct. 26 and ends on Dec. 31, 2024.

HelloFresh is a Berlin-based meal-kit delivery company.

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