IFEX to offer €20 million to €30 million of convertibles to complete acquisition of Moore, Clayton and Co.

By Kenneth Lim

Boston, Aug. 9 - The Netherlands' IFEX Innovation Finance and Equity Exchange NV plans to offer between €20 million and €30 million of convertible bonds.

The corporate finance firm said in a statement that it has engaged an international corporate financier to place the convertibles in the next 90 days, but the company did not provide details on the terms.

IFEX, which provides financing services mainly to small- and medium-sized companies, said it needs to raise at least €10 million as a principal condition for the completion of its acquisition of Moore, Clayton and Co. Inc, a private equity firm with its administrative headquarters in Salt Lake City. Moore, Clayton and Co. is also the investment adviser to Equus II Inc., a New York-listed closed end fund.

IFEX stock closed at €0.098 on Xetra on Wednesday after the deal was announced.

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