EQS Group-Ad-hoc: Leclanché SA / Key word(s): Financing
Leclanché draws down a third tranche of CHF 910,000* from the Convertible Loan Facility of up to CHF 39 Million with Yorkville Advisors
- Initial CHF 2.9 million tranche under the Convertible Loan Facility with Yorkville Advisors was drawn down in February 2020 and second tranche of CHF 720,000 in June 2020.
- Third CHF 910,000 tranche will be used to fund Company operations and expansion.
YVERDON-LES-BAINS, Switzerland and MOUNTAINSIDE, N.J., 25th August, 2020 - Leclanché SA (SIX: LECN), one of the world's leading energy storage companies, has drawn down the third tranche of the up to CHF 39 million convertible loan facility signed in February 2020 with Yorkville Advisors Global, LP, a US New Jersey-based investment firm offering debt and equity financing to global, small and micro-cap companies. This third proceed will be used for Company operations and expansion.
Anil Srivastava, Chief Executive Officer of Leclanché, said: "We thank Yorkville Advisors for their continuous support and their trust in Leclanché. This third drawdown confirms the willingness to build a long-term relationship between Yorkville Advisors and Leclanché. This additional funding, will continue to support the implementation of our high-growth business plan."
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*USD 1 million
Headquartered in Switzerland, Leclanché SA is a leading provider of high-quality energy storage solutions designed to accelerate our progress towards a clean energy future. Leclanché's history and heritage is rooted in over 100 years of battery and energy storage innovation and the Company is a trusted provider of energy storage solutions globally. This coupled with the Company's culture of German engineering and Swiss precision and quality, continues to make Leclanché the partner of choice for both disruptors, established companies and governments who are pioneering positive changes in how energy is produced, distributed and consumed around the world. The energy transition is being driven primarily by changes in the management of our electricity networks and the electrification of transport, and these two end markets form the backbone of our strategy and business model. Leclanché is at the heart of the convergence of the electrification of transport and the changes in the distribution network. Leclanché is the only listed pure play energy storage company in the world, organised along three business units: stationary storage solutions, e-Transport solutions and specialty batteries systems. Leclanché is listed on the Swiss Stock Exchange (SIX: LECN).
SIX Swiss Exchange: ticker symbol LECN | ISIN CH 011 030 311 9
About Yorkville Advisors
Based in Mountainside, New Jersey, Yorkville Advisors is an experienced investment firm that focuses on driving shareholder value by providing growth and acquisition capital to small-cap and micro-cap issuers globally. With a significant balance sheet and a broad investment mandate across sectors and geographies, Yorkville Advisors is often the sole investor in a capital raise, which allows for a controlled and disciplined exit strategy.
The Yorkville Advisors' partners have decades of experience structuring micro and small-cap investments and understand and appreciate the volatility inherent to the space. The firm tailors its investments to the unique needs of each issuer working directly with management to implement the proper financing solution. Since its inception in 2001, Yorkville Advisors has completed over 700 company investments totalling more than USD 4B in value in over 20 countries.
This press release contains certain forward-looking statements relating to Leclanché's business, which can be identified by terminology such as "strategic", "proposes", "to introduce", "will", "planned", "expected", "commitment", "expects", "set", "preparing", "plans", "estimates", "aims", "would", "potential", "awaiting", "estimated", "proposal", or similar expressions, or by expressed or implied discussions regarding the ramp up of Leclanché's production capacity, potential applications for existing products, or regarding potential future revenues from any such products, or potential future sales or earnings of Leclanché or any of its business units. You should not place undue reliance on these statements. Such forward-looking statements reflect the current views of Leclanché regarding future events, and involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results, performance or achievements expressed or implied by such statements. There can be no guarantee that Leclanché's products will achieve any particular revenue levels. Nor can there be any guarantee that Leclanché, or any of the business units, will achieve any particular financial results.
End of ad hoc announcement
|Av. des Sports 42|
|Phone:||+41 (24) 424 65-00|
|Fax:||+41 (24) 424 65-20|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1122369|
|End of Announcement||EQS Group News Service|
1122369 25-Aug-2020 CET/CEST