Hengeler Mueller advises Epigenomics on subordinated mandatory convertible bonds

13. September 2021

Epigenomics AG successfully concluded the placement of subordinated mandatory convertible bonds. The issuance had been resolved upon by the executive board and had been approved by the supervisory board of the company.

Altogether, the maximum volume of the subordinated mandatory convertible bonds with a total nominal value of EUR 16.5m were placed. The bonds are convertible into a total of max. EUR 15m no-par value registered shares of the company.

The convertible bonds were initially offered for subscription by means of a rights offering to existing shareholders of Epigenomics AG with the option of oversubscription. Furthermore, Epigenomics AG had entered into a back-stop agreement with its shareholder Deutsche Balaton under which the latter had undertaken to acquire all bonds by exercising its subscription rights and by the acquisition of bonds not subscribed via subscription and oversubscription rights.

Epigenomics aims to have all convertible shares as soon as possible admitted to the regulated market with simultaneous admission to the sub-segment of the regulated market with additional post-admission obligations (Prime Standard) at the Frankfurt stock exchange.

Hengeler Mueller has advised Epigenomics comprehensively with regards to the issuance of the mandatory convertible bonds, the conclusion of the backstop agreement as well as to the preparation and approval of the required securities prospectuses. The team included partners Kai-Steffen Scholz (Corporate, Berlin) and Dirk Busch, counsel Caspar Haarmann as well as associates Matthias Marz, Tim Fabian Walter (all Capital Markets, Düsseldorf), Ingo Berner and Alexander Berkle (both Corporate, Berlin).