New York, Sept. 1 – Valoe Oyj increased the size of its offering of 8% convertible bonds due Aug. 1, 2018 to €7.7 million from the originally announced €5 million.
The company said it was upsizing the sale in response to oversubscriptions.
It also extended the offering to 11 a.m. ET on Sept. 30 from 11 a.m. ET on Aug. 31.
The bonds can be converted to a maximum of 770 million new shares of the company with a subscription price of €0.01 per share, according to a company press release.
The minimum amount of subscription and one loan share is €100,000.
When it originally announced the convertibles, Valoe said it was raising funds in order to execute its clean energy business plan.
Valoe is a clean energy company based in Mikkeli, Finland.
| Issuer: | Valoe Oyj
|
| Issue: | Convertible bonds
|
| Amount: | €7.7 million
|
| Maturity: | Aug. 1, 2018
|
| Coupon: | 8%
|
| Conversion price: | €0.01
|
| Stock ticker: | Helsinki: VALOE
|
| Stock price: | €0.017 at close May 29
|
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