Soitec exercises early redemption option for Oceanes due 2023

Chicago, Sept. 16 – Soitec SA announced that it plans to redeem all of its Oceanes due June 28, 2023 (ISIN: FR0013345949) on Oct. 18 at a price per bond of par, or €104.47, according to a press release.

There are 1,219,218 Oceanes outstanding out of an original 1,435,818 issued.

Holders of the bonds have the right to exercise the conversion/exchange right until Oct. 7. Each Oceane is convertible into one Soitec share.

If all the bondholders opted to exercise their conversion/exchange right, a maximum of 1,319,318 of new Soitec shares would be issued, representing 3.9% of Soitec share capital.

To exercise the conversion/exchange right, bondholders must make a request to the financial intermediary holding their Oceanes in a security account. Requests are irrevocable.

BNP Paribas Securities Services is the principal paying, transfer and conversion/exchange agent.

Shares for bondholders who exercised their conversion right will be delivered by Oct. 11 if the right is exercised before Sept. 30, and alternatively by Oct. 18 if exercised after Sept. 30.

Bernin, France-based Soitec makes semiconductor materials.

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