A team led by capital market expert Dr. Thorsten Kuthe, Partner at Heuking Kühn Lüer Wojtek, advised medical technology company Pentracor GmbH on issuing a bond in private placement with possible conversion right. The company intends to use the issue volume of up to EUR 15 million for a large-scale roll-out of its certified medical device innovation PentraSorb.
At a term of five years, the bond’s interest rate is fixed at 8.50 percent annually. The possible conversion right takes into account an optional IPO or sale of the company within the five-year term of the bond. If neither of these occurs, the bond redemption price will be 120 percent. The subscription period for the private placement with a minimum subscription of EUR 100,000 started on May 20, 2020. The bond it to be traded and listed on Frankfurt Stock Exchange’s Open Market in EUR 1,000 denominations from May 29, 2020.
Pentracor GmbH, based in Hennigsdorf near Berlin, was founded in 2010 as a spin-off from the university environment. With PentraSorb CRP, the company offers a new therapeutic, extracorporeal treatment method with a unique selling proposition for the sustained containment of progressive internal tissue damage in patients following acute events such as heart attack or stroke. Filtering the blood plasma outside the body, the “C-reactive protein” that causes tissue damage is selectively removed.
Structured by One Square Advisors GmbH (One Square Financial Engineers), IR.on AG acts as communications consultant for the bond issue. Subscription service is provided by BankM AG.
Counsel to Pentracor GmbH
Heuking Kühn Lüer Wojtek:
Dr. Thorsten Kuthe (Lead),
Sascha Beck (all Capital Markets), all Cologne