Claranova SE announced that it has entered into a purchase agreement with investors Heights Capital Management and Ophir Asset Management to raise gross proceeds of €65 million in a round of funding on August 11, 2021. The company will issue 2,142,857 new common shares at an issue price of €7 per share for gross proceeds of €14,999,999 for Ophir Asset Management Pty Ltd for €10 million for 3.41% stake , and Heights Capital Management, Inc for €5 million for 1.71% stake total of representing 5.39% of company’s share capital and convertible bonds will be issued with an annual interest rate of 4.5%, payable in cash semi-annually in arrears on January 30th and July 30th each year, commencing on January 30th, 2022. The par value of bonds issued is €13 per bond. The bonds issued will be subscribed by Heights Capital Management for 86% conversion premium. The Convertible bonds will be issued at par and will be redeemable at par on the fifth anniversary date of the issuance date which is maturity date. The company will issue 3,846,154 convertible bonds and they are convertible in to shares after the transaction. The shares issued are subjected to 12 months locking period. The transaction is subjected to certain customary exceptions. The Convertible Bonds will not be subject of an application for admission to trading on any market and will not be listed.