Schmid Group NV Secures €10 Million Convertible Loan Facility
SCHMID Group N.V. has secured a two-tranche convertible term loan facility of up to €10 million from Black Forest Special Situations I, a lender based in the Cayman Islands. The facility allows the lender to convert the loan into SCHMID Group shares at a fixed price of USD 2.15 per share. The loan is secured by a private pledge from the company's majority shareholders, Christian Schmid and Anette Schmid. In addition, SCHMID Group raised an additional €200,000 through a related party loan as part of a broader financial realignment. Investors in these financings include members of the board, the incoming Chief Financial Officer, majority shareholders, and external investors.
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