By Abigail W. Adams
Portland, Me., Feb. 19 – Valoe Corp. completed the subscription for €2.8 million of three-year convertible bonds launched on Jan. 18, according to a company news release.
The bonds will yield 8% with the interest added to the loan capital annually and paid in shares at maturity.
The subscription price is €0.15, which represents a discount of 15% from the closing price of stock on Jan. 16.
The principal amount of the convertible bonds is €50,000 with each bond convertible into 333.333 company shares.
Valoe is a Mikkeli, Finland-based clean energy company specializing in automated production technology for solar modules.
| Issuer: | Valoe Corp.
|
| Securities: | Convertible bonds
|
| Amount: | €2.8 million
|
| Maturity: | May 31, 2022
|
| Coupon: | 8%
|
| Price: | €50,000
|
| Yield: | 8%
|
| Initial conversion discount: | 15%
|
| Conversion price: | €0.15
|
| Conversion rate: | 333.333
|
| Pricing date: | Jan. 19
|
| Settlement date: | Feb. 18
|
| Stock symbol: | HEL: VALOE
|
| Market capitalization: | €3.08 million
|
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