Zurich (awp) – Battery maker Leclanché has announced a bridging loan from its main partner, SEFAM, to ensure continuity until the previously announced E-Mobility unit is merged with SPAC (“Special Purpose Acquisition Company”). Thursday evening.
The bridge loan of 20.4 million Swiss francs is welcome, but Yverdon noted that the liquidity situation remains tense, leading to late payments to suppliers from time to time. So Leclanché is looking for new funds.
SEFAM has also agreed to consider a loan of 40 million Swiss francs as a subsidiary loan. This ensures a favorable equity position for the company and simplifies the auditing and merging process for the 2021 year accounts. SEFAM has agreed to invest up to $ 50 million to support the merger project.
Bridge loan and capital increase make it possible to be optimistic and all maturities should be honored in the coming months, General Manager Anil Srivastava was quoted as saying in a statement.
The connection is too late, the CFO takes the door
Chief Financial Officer (CFO) Hubert Angleys has decided to leave the company. He will have “some time” to finalize the 2021 accounts exam and hand it over to his successor. Until the merger is completed, Fabrizio Poulette, a financial analyst, portfolio manager and executive of various companies in the financial and industrial sectors, will accept the CFO position on an interim basis.
On December 23, Leclanché announced its intention to merge its E-Mobility company with American Spec. The process is delayed, Yverdonnoise said. Spec’s due diligence expertise should be completed within six to eight weeks. The final merger is scheduled to take place at the end of next April.
In addition, since the beginning of the year, the company’s total orders have exceeded $ 51 million, including $ 33 million for E-Mobility.
ys / rp