INTERSHOP Communications AG resolves to issue a bond with warrants
Jena, 24 July 2020 – The Management Board of INTERSHOP Communications AG (ISIN: DE000A254211) today resolved, with approval of the Supervisory Board, to issue a warrant bond with a nominal value of EUR 3,108,000.00 under exclusion of subscription rights for existing shareholders. The warrant bond comprises a combination of a bond and warrants for the subscription of company shares. The warrant bond has a term of five years (July 24, 2020 to July 23, 2025) with a 3.00% interest rate per year and an ordinary termination option of two years on the bondholders’ part with a simultaneous waiver of the respective warrants. The warrants entitle the holders to subscribe to a total of 1,419,178 no-par value bearer shares from the conditional capital of INTERSHOP Communications AG with a proportion of the share capital attributable to each share of EUR 1.00 per share. The warrant price per share is EUR 2.19. The warrant bond has been fully placed with the investors Shareholder Value Beteiligungen AG and AXXION S.A. for two fund mandates.
As a result of the capital measure, the company will receive gross issuing proceeds of around EUR 3.1 million. Intershop will use the proceeds from the warrant bond to further expand its cloud business.
About Intershop
Intershop Communications AG (founded in Germany 1992; Prime Standard: ISHA) delivers the agentic commerce platform powering digital sales for the hidden champions and global powerhouses of B2B. More than 300 manufacturers, wholesalers, holding companies and business associations worldwide rely on Intershop to connect, simplify, and automate commerce across regions, brands, business models and channels. With their unrelenting B2B focus and platform designed to handle complexity, Intershop helps businesses grow their digital sales revenue, improve customer retention, and make their sales processes more efficient.
Intershop is built to boost your business. Learn more at www.intershop.com.
This news release contains forward-looking statements regarding future events or the future financial and operational performance of Intershop. Actual events or performance may differ materially from those contained or implied in such forward-looking statements. Risks and uncertainties that could lead to such difference could include, among other things: Intershop's limited operating history, the unpredictability of future revenues and expenses and potential fluctuations in revenues and operating results, significant dependence on large single customer deals, consumer trends, the level of competition, seasonality, risks related to electronic security, possible governmental regulation, and general economic conditions.
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