- Financing Facility of EUR 12,500,000.00 debt for future growth
- Repurchase of the remaining existing minority interests in the Group
- Debt to Equity Conversion of existing liabilities
UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, announces that a planned and announced round of financing has been completed. To finance further growth, a EUR 12.5 million loan with a term of three years was successfully placed. The new funds will be used to refinance existing liabilities as well as to finance working capital. The final closing of the transaction is scheduled for the end of June 2019.
Together with the repayment of existing financial liabilities, the UET Group will repurchase the last remaining minority interests in the Group in the form of a silent participation. The transaction furthermore intends to convert liabilities totaling EUR 3.2 million with a debt to equity swap through a capital increase. This includes the exercise of a conversion option that has existed since 2018. A corresponding agreement has been signed that still requires the final and formal implementation, which is planned until the end of July 2019.
UET United Electronic Technology AG
Frankfurter Straße 80-82
Tel: + 49 (0) 6196 777755-0