fox e-mobility AG (DUSE:CT4) announced that it has entered into framework agreement to issue 250 non-interest-bearing mandatory convertible bonds for €95,000 per bond within a time frame of up to three years for gross proceeds of up to €23,750,000 on April 21, 2021. The transaction will include participation from new investor Atlas Capital Markets Limited. The convertible bonds will be divided into bearer bonds with a nominal value of €100,000 each, for gross nominal value of up to €25,000,000. The issue price per bond is 95% of the nominal amount and thus €95,000 per bond. The conversion price per share is 95% of the average market price on the five consecutive trading days of the company’ shares before submitting a notice of exercise. After conversion, investor also has the right to purchase additional shares for 30% of the converted shares at an issue price of €2.50 until December 30, 2022. The maximum number of shares that can be drawn corresponds to 30% of the converted shares. The management board of the company intends to resolve the issue of the first tranche of convertible bonds under the framework agreement in the foreseeable future.