Vergnet completes conversion of bonds held by Atlas Capital Markets

Vergnet, a renewable energy specialist, announces the full conversion of €7.2 million of convertible bonds held by Atlas Capital Markets into shares. The latest conversion involves €1.05 million with a premium of €0.0004 per share, thus closing the dilutive financing.

This financing was essential for the group's restructuring, facilitating innovative projects in the Pacific, such as Yap and Kosrae. Supported by the Asian Development Bank and the World Bank, these projects are expected to solidify Vergnet's revenue in 2025, with operating profitability expected for that year.

CEO Jérôme Gacoin highlights the continued reorganization and cost optimization, while exploring less dilutive financing solutions to support future growth.