Eurobattery Minerals Initiates SEK 4 Million Convertible Issue

Eurobattery Minerals AB has announced a directed issue of convertibles amounting to SEK 4.0 million to Fenja Capital II A/S. This decision leverages the authorization from the Extraordinary General Meeting held in October. The issuance is a strategic move to offset Fenja Capital’s previous claim under an existing convertible debenture of SEK 5.0 million initiated in February.

The terms allow conversion up to 33,333,333 new shares by June 2026 at SEK 0.12 each. These notes accrue an annual interest of 12% plus STIBOR 3M, capping at 15%, payable quarterly. The decision underscores a liquidity-efficient solution over alternative rights issues, which may not attract full subscription and could pose higher underwriting costs.

The aim is efficient debt repayment while limiting shareholder dilution to 8.4%. The board determined the issue price through strategic negotiation, aligning with market standards.