E-PANGO launches a €4 million bond financing
What's the deal? E-PANGO (EPA:ALAGO) has announced a bond financing programme worth up to €4 million. The deal is structured as convertible bonds — which can be turned into new or existing shares — accompanied by share subscription warrants issued to Hanover Square Investments 1. The programme breaks down into an initial tranche of €200,000 followed by 38 tranches of €100,000 each.
Why now? The company says the financing is meant to guarantee the continuity of its operations, directly addressing the auditor's reservations about financial viability.
- Maximum amount: €4 million in convertible bonds
- Structure: initial tranche of €200,000 + 38 tranches of €100,000 each
- Investor: Hanover Square Investments 1
- Instruments: bonds convertible into new and/or existing shares, with share subscription warrants
- Risk: if the bonds are converted and the warrants are exercised, significant dilution for current shareholders is possible
- The company notes that the bonds issued could be sold quickly, potentially impacting the share price
Source: webdisclosure.com
