Elaris Holding plans up to €15 million of bonds for Elaris AG growth

By Mary-Katherine Stinson

Lexington, Ky., April 22 – Elaris Holding GmbH plans to sell up to €15 million of bonds to fund the growth of Elaris AG and to strengthen its working capital, according to a press release.

The up to 15,000 of bearer bonds carrying equal rights will be offered via private placement to investors in the European economic area. They will have a nominal value of €1,000.

Elaris AG’s management board has decided to support the issue to enable the investment of funds raised by Elaris Holding, including the company taking out shareholder loans, according to the notice.

Elaris Holding currently owns 91.1% of Elaris AG’s shares. Elaris Holding is controlled by LB Holding GmbH, whose sole shareholders are the sole directors of Elaris AG.

Grunstadt, Germany-based Elaris is a German electric vehicle start up specializing in marketing Chinese electric vehicles.

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