Vergnet announced on Wednesday that it had arranged innovative financing of eight million euros to support its development, boosting its share price on the Paris stock exchange.

The renewable energies specialist said it had concluded a bond financing of two million euros with a maturity of four and a half years, accompanied by additional financing via the strengthening of its equity capital likely to reach six million.

In a press release, the group refers to a 'unique' operation carried out with the management company Delta Alternative Management, which had already participated in its 2018 and 2019 fundraisings.

In addition to the two-million euro bond financing, due to mature in 2028, the six-million euro secondary financing will take the form of bonds convertible into shares, but without BSAs.

CEO Vincent de Mauny calls it a "mix" of traditional debt and convertible debt.

"Over the past few months, I have been working intensively with a new team to turn around Vergnet's economic and financial situation", he recalls.

From his point of view, this financing will provide the "bridge" essential for operations.

It's a necessary next step, but I'm convinced that in a few months' time our company will have a completely different profile", he assures us.

Vergnet shares were up by more than 2% at the end of the morning, outperforming a Paris market that was up by 0.1% at the same time, and posting a small increase of 3% since the beginning of the year.

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