McPhy Energy Announces Issue of Convertible Bonds for EDF Pulse and Bpifrance
Key Ideas
- McPhy Energy is planning to issue convertible bonds to raise funds for its hydrogen production and distribution equipment.
- The bonds will maturing in 5 years and bear 8% annual interest, with a premium of 20% over the reference price for conversion.
- The proceeds will support McPhy's working capital needs, commercial activities, industrial facilities, and research and development.
- Additional information about the issue, including terms, legal framework, risk factors, and dilution impact, is available on the company's website.
McPhy Energy, a specialist in low-carbon hydrogen production and distribution equipment, has announced the availability of information regarding a contemplated issue of convertible bonds for EDF Pulse Holding and EPIC Bpifrance, among other investors. The Convertible Bonds, totaling €30 million, will mature in 5 years and bear 8% interest per annum. Bondholders will have the option to convert the bonds into new or existing shares with a 20% premium over the reference price. The net proceeds from the issue will be used to finance the company's working capital requirements, commercial activities, industrial facilities, and research and development. Detailed information on the terms of the Convertible Bonds, legal framework, risk factors, and potential dilution for shareholders can be accessed on McPhy's website. This press release emphasizes that the offer is not directed at the U.S., Australia, Canada, or any jurisdiction where it would be unlawful. McPhy Energy, known for its contribution to the global deployment of low carbon hydrogen, offers a range of products for industrial, mobility, and energy sectors, facilitating energy transition. The company's innovative hydrogen solutions are designed, manufactured, and integrated across its development centers in Europe.