(Alliance News) - Prismi Spa announced Wednesday that it has decided to launch a EUR7.5 million convertible bond.

The POC will be divided into 663 bonds of EUR10,000 each, to be offered to Medigest SA, Area 62 Srl and Tendercapital Alternative Funds PLC. The term will be five years and no coupon payments are expected.

Prisms, starting July 1, 2026, will have the option to request conversion of the bonds, which can be converted from July 1, 2026 to June 30, 2027 up to a maximum of 37.5 percent of the issued and outstanding bonds and, from July 1, 2027 up to 75 percent of the remaining bonds.

The proceeds of the subscribed bonds will mainly be used to rebalance current debt positions, with the aim of optimizing the cost structure of financing sources and fueling working capital. The loan is, in fact, issued to repay 90 percent of the principal of the bonds maturing each month; and to help strengthen the company's capital and financial position.

Prismi's stock closed Wednesday up 10 percent at EUR0.12 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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