Holders may convert loan tranche into shares at strike price of €1.20
By Susanna Moon
Chicago, June 22 - OpenLimit Holding AG said it took out a loan with conversion rights for a total nominal amount of €1.5 million.
The loan is due June 30, 2013, has a coupon of 6% and is convertible into 1.25 million OpenLimit shares.
Holders may convert their loan tranche into OpenLimit shares at a strike price of €1.20 per share, which represents a 17.65% premium to the company's closing price on June 20.
The company may call the loan for conversion if the share price trades at or above a strike price set between €1.80 and €2.00 on 10 out of 14 consecutive trading days, according to a company press release.
OpenLimit is a provider of certified software for electronic signatures and identities. It is based in Baar, Switzerland.
| Issuer: | OpenLimit Holding AG
|
| Issue: | Convertible loan
|
| Amount: | €1.5 million
|
| Maturity: | June 30, 2013
|
| Coupon: | 6%
|
| Price: | Par
|
| Conversion price: | €1.20
|
| Call option: | If share price trades at or above a strike price set between €1.80 and €2.00 on 10 out of 14 consecutive trading days
|
| Warrants: | No
|
| Pricing date: | June 22
|
| Stock symbol: | ETR: O5H
|
| Stock price: | €1.02 at close June 20
|
| Market capitalization: | €18.11 million
|
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