HERZOGENRATH (dpa-AFX) – Chip equipment manufacturer Aixtron has raised fresh capital through the issuance of convertible bonds. The volume reached 450 million euros, as previously announced, the company stated late Wednesday evening. The securities have a maturity date in April 2031.
The convertible bonds will be convertible into shares representing 7.9 percent of the share capital. Shareholders’ subscription rights have been excluded. Net proceeds are intended for general corporate purposes, which may include investments to support organic growth as well as acquisitions and share buybacks.
The initial conversion price is set at 50.375 euros. Due to the accreted redemption amount, the effective conversion price at maturity will be approximately 51.010 euros. Aixtron shares closed at 42.35 euros in Xetra trading on Wednesday. The bonds do not carry a regular coupon./he