Atrys announces an issue of 'CoCos' for 11.7 million euros

MADRID, 8 May.

Atrys announces an issue of 'CoCos' for 11.7 million euros


Atrys has announced the issuance of contingent bonds convertible into shares (known as 'CoCos') for an amount of 11.7 million euros, according to the documentation sent by the firm to the National Securities Market Commission (CNMV).

The company's board of directors, under the agreement of the last extraordinary shareholders meeting, has decided that these bonds will be represented by registered securities with a nominal value of 100,000 euros each.

This same Tuesday, the bonds were disbursed, so the company has managed to "successfully" complete the operation.

From the date of subscription, these bonds will accrue interest of 9.5% per year at the PIK rate.

Likewise, each bond will entitle its holder to convert it into new ordinary shares of Atrys. If the holder exercises this right, the number of shares will be determined by dividing the PIK interest rate by seven euros.

However, in a case of mandatory conversion, the shares that will correspond to the bondholder will be the result of dividing the PIK interest rate between the lower of seven euros, and the lower of the weighted average price per ordinary share during 100 trading days. or the weighted average price per common share over 30 consecutive trading days. In these two cases, a discount of 10% or higher will be applied, but not exceeding 20%, as justified by the administrative body.

Furthermore, each bondholder, by individual decision, will have the right to request conversion at any time from six months from the date of subscription until 72 months have passed.

On the other hand, the maturity of these bonds will be 78 months after their subscription date.

The company has explained that the bonds are fungible with the contingent convertible bonds that the issuer issued on December 28, 2023 for a nominal amount of 13.3 million euros under the authorization approved by the company's ordinary general meeting on December 21. December 2023.