Fox E-Mobility AG Advances with €3.5 Million Refinancing and Prep for Share Conversion

Fox E-Mobility AG has announced a continuation of its refinancing efforts, securing an additional €3.5 million in partnership with Atlas Special Opportunities. This move is aimed at improving the financial stability of the company as it prepares for major structural changes in its stock offerings.

The refinancing strategy incorporates multiple elements to safeguard creditor investments. Key components include creditor protection through shares in Fox Automotive Switzerland AG and structured installment payments associated with Yangji Investment. Additionally, the arrangement facilitates the conversion of liabilities into equity via convertible bonds, sweetened with the issuance of 13 warrants as an incentive.

This capital restructuring is further bolstered by a €100k payment from executives at Yangji Investment Partners LLC, enhancing the company's economic positioning. Looking forward, Fox E-Mobility AG plans to transition from bearer shares to registered shares, a process scheduled for May 2024 and to be managed by Quirin Bank and Clearstream.