Meyer Burger Technology is accumulating the investment it is seeking for its ordinary capital increase thick and fast, as investment commitments during the new recapitalization program have now reached CHF 49 million (USD 48.5 million). Four separate investors have made the investment commitments for new unregistered shares in the company, as it looks to raise CHF 164.5 million in capital.
The most recent investment commitment is for CHF 10.8 million, from London-based asset manager, Carmignac Gestion. The deal is subject to certain conditions, but will see Carmignac Gestion purchase 30 million unsubscribed shares in the company.
The company has now received investments commitments in the amount of CHF 49 million from four separate investors, which are subject to certain conditions. It is part of a major restructuring program that the company announced earlier in the year.
As part of the restructuring, Meyer Burger has set out plans for an ordinary capital increase, with the goal of accumulating CHF 164.5 million in capital, from the issuance of 456,851,800 new registered shares. The recapitalization proceeding also include the extension of the company’s existing bank credit, which has been agreed in principle.