DGAP-News: Rubean and Cyclebit Group sign convertible loan agreement
Munich, 27 April 2022: Rubean AG, Munich, (ISIN: DE0005120802, WKN: 512080) and CYCLEBIT GROUP LTD ("CYCLEBIT"), Lemesos/Cyprus, a fin-tech company in the payment sector, today signed a binding agreement on the subscription of a convertible loan by CYCLEBIT.
- Munich, 27 April 2022: Rubean AG, Munich, (ISIN: DE0005120802, WKN: 512080) and CYCLEBIT GROUP LTD ("CYCLEBIT"), Lemesos/Cyprus, a fin-tech company in the payment sector, today signed a binding agreement on the subscription of a convertible loan by CYCLEBIT.
- This will provide Rubean with funds in the amount of EUR 3.4 million, while CYCLEBIT will receive the right to convert the loan receivable into 271,750 Rubean shares.
- If not converted, the loan runs for two years and bears interest at 3.0 per cent per annum.
- About CYCLEBIT GROUP: Cyclebit Group, founded in 2012, is a global payments and SaaS provider.