Endor AG Advances in Restructuring Efforts with Financial Support from CORSAIR

Landshut, 15 May 2024 – Endor AG, in its latest move towards restructuring, has solidified concrete steps with CORSAIR, following exclusive negotiations that started on 9 May 2024. With the support of its lending banks and Supervisory Board, Endor AG announced the strategic steps approved during these discussions. CORSAIR, a significant player in the tech and gaming industry, is set to provide interim financing to Endor AG, which will be distributed in several tranches according to the company’s financial needs.

Andres Ruff, CEO of Endor AG, recognized CORSAIR as a reliable and knowledgeable partner committed to investing for the long term. He emphasized how this partnership and resultant financing arrangement have mitigated the risk of insolvency, a sentiment echoed by the lending banks which favored CORSAIR’s offer over others. Matthias Kosch, CFO of Endor AG, remarked on the diligence of his team and their role in averting a financial crisis through careful evaluation of various proposals.

The collaboration between Endor AG and CORSAIR aims to maintain the company’s operations outside of insolvency under the German StaRUG act. A binding agreement is anticipated by mid-June, with plans to proceed with legal formalities in Munich soon after. Through this agreement, CORSAIR will fully acquire Endor AG and provide it with the necessary financial stability, clearing its existing debts of approximately EUR 70 million.