niiio repays part of 2026 convertibles due to change-of-control

By William Gullotti

Buffalo, N.Y., Feb. 15 – niiio finance group AG will repay €3.25 million of its outstanding €3.6 million 4% convertible bonds (ISIN: DE000A3E5S26) ahead of maturity due to a change-of-control, according to a press release on Thursday.

The redemption, triggered in January by a change-of-control in favor of Neptune TopCo GmbH, is expected to occur Feb. 19.

Accrued and unpaid interest will also be paid.

The redemption will be partially financed by a cash capital increase carried out in December and by a loan from Neptune BidCo AG, an indirect subsidiary of Neptune TopCo, totaling about €900,000.

€5 million of the convertibles were issued in 2021 at a nominal value of €1 per convertible, and the remainder is still expected to mature May 31, 2026.

Germany’s niiio is a provider of software as a service, cloud-based solutions for asset and wealth managers.

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