Ebusco secures €6M equity injection from Rhein Holding
What's the deal? Dutch electric-bus maker Ebusco is receiving a €6 million equity injection from existing shareholder Rhein Holding. The investment will be made in two €3 million tranches through the issuance of 31,725,049 new ordinary shares at €0.189125 each.
Why now? The deal follows Ebusco's August 14 announcement that it was discussing a short-term liquidity solution with a shareholder. Once completed, Rhein Holding's stake is expected to rise from about 5.1% to roughly 16.6%, and the investor will be entitled to nominate one supervisory-board candidate, subject to shareholder approval.
What it means: The injection gives Ebusco additional short-term liquidity, but the company is also pursuing a planned Letter of Credit facility of about €30 million with an Asian partner, backed by a corporate guarantee from GotionDealroom has a profile for this one. Try Dealroom →. That facility is not yet final and depends on completing and signing the remaining documentation.
Read more: Haven en Transport
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