Solar energy company Meyer Burger announces conditions for a capital increase

As is known, the solar energy company Meyer Burger wants to secure approximately 200 million francs in new resources through a capital increase to finance its planned expansion in the US. Now the company has published the details.

Accordingly, Meyer Burger plans to issue up to 20,144,423,886 new shares at a subscription price of 0.01 francs per share. The subscription ratio for existing shareholders was set at 28 new shares for every 5 existing shares. The warrants can be traded from March 20 to 26, after which the final amount of the transaction will be announced on April 3.

Majority shareholder Sentis Capital and major customer DE Shaw Renewable Investments (DESRI) will also participate in the rights issue, according to a statement on Monday. The two companies have entered into purchase commitments for a total amount of up to 67.5 million francs, of which Sentis alone accounts for a maximum of 50 million francs. The members of the board of directors and management (0.37% share) also participate in the capital increase.

Meyer Burger needs the money from the capital increase to invest in production in the US. As announced in February, the company is building factories in the American states of Colorado and Arizona and is counting on generous subsidies. Meyer Burger, on the other hand, has decided to temporarily halt production in Freiberg with a view to Germany.

An extraordinary general meeting will take place in Thun today at 2 p.m. at which the shareholders will approve the capital increase. The prospectus for the rights issue will then be published on (tomorrow) March 19. (rbu/sda/awp)