Redcare Pharmacy N.V. (formerly SHOP APOTHEKE EUROPE N.V.), issued non-subordinated convertible bonds on 14 January 2021. This instrument allows longer-term financing at attractive conditions and is an interesting investment opportunity for investors.
The Company will have the option to redeem all, but not some only, of the Bonds at their principal amount in accordance with the terms and conditions of the Bonds (i) at any time on or after March 10, 2025 if the price of the listed share of the Company exceeds 130% of the then prevailing conversion price over a specified period or (ii) if 15% or less of the aggregate principal amount of the Bonds remains outstanding. Holders of the Bonds will be entitled to require an early redemption of their Bonds at their principal amount on the fifth anniversary of the Bonds’ issue.
Unless previously redeemed, or purchased and cancelled, the Bonds will be convertible at the option of the holder into Settlement Shares.
The Company is entitled to make a cash payment in lieu of delivering the Settlement Shares if and to the extent on settlement date the Company is unable to deliver Settlement Shares upon conversion.
