Polyphor AG announced that it has entered into an equity-linked financing arrangement with the French company IRIS to raise a gross amount of up to CHF 19.3 million over a period of two years. Under the innovative financing instrument, IRIS will receive Polyphor shares to be created from the company's conditional capital based on an interest-free mandatory convertible bonds program.
Bär & Karrer acted as legal advisor to the investor. The team included Thomas U. Reutter, Alexander von Jeinsen, Sandro Fehlmann and Stefanie Walch (all Capital Markets) as well as Susanne Schreiber and Elena Kumashova (both Tax).
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