By Abigail W. Adams
Portland, Me., June 7 Co.Don AG priced 15.3 million in three-year convertible bonds at a price of 80 with a coupon of 0% on Thursday at the conclusion of a subscription period offered to shareholders, according to a company news release.
The convertible bonds are being issued alongside three-year bonds with warrants.
The convertible bonds are divided into 153 partial bonds with a nominal amount of 100,000 and an issue price of 80,000.
The bonds with warrants are divided into 20 partial bonds of 100,000 each.
At the closing of the subscription period, shareholders subscribed for 28.1% of the convertible bonds and 25% of the bonds with warrants with 26.8% of the convertible bonds and 25% of the bonds with warrants sold to majority shareholder Bauerfreind Beteiligungsgessellschaft mbH.
A foreign financial investor will acquire the remaining 71.9% of the convertible bonds and 75% of the bonds with warrants on June 8, according to the news release.
Proceeds will be used to fund the companys strategic plan, which includes strategic international expansion.
Co.Don is a Teltow, Germany-based developer, producer and marketer of cell therapies for the repair of cartilage damage.
| Issuer: | Co.Don AG
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| Securities: | Convertible bonds
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| Amount: | 15.3 million
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| Maturity: | 2021
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| Coupon: | 0%
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| Price: | 80 versus par of 100,000
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| Pricing date: | June 7
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| Concurrent offering: | Bonds with warrants
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| Stock symbol: | ETR: CNWK
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| Stock price: | 6.06
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| Market capitalization: | 116.14 million
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