Powering the Future: Why Thermal Management Defines the Future of Electronics
Standard of Excellence: Engineering Is the New Sales—How Technical Collaboration Wins Business
SMT Perspectives & Prospects: Artificial Intelligence, Part 7—Data Module 2
Cicor Issues Bond to Finance Future Acquisitions
November 22, 2021 | Cicor Technologies Ltd.Estimated reading time: 1 minute
Cicor Group announces that the company resolved to issue a five year mandatory convertible bond (MCB) of up to CHF 60 million which is fully back-stopped by One Equity Partners (OEP). The funds shall be used as equity for financing future acquisitions in the field of Cicor’s activities.
The mandatory convertible bond will be offered to all shareholders in proportion to their shareholding, subject to applicable capital markets restrictions. The company plans trading of the pre-subscription rights, if so approved by the stock exchange. The conversion price is planned to be CHF 47.50 per share. The convertible bond pays no interest.
The issuance of the mandatory convertible bond is subject to a decision of an EGM to be held in December 2021 to amend the articles of association of Cicor to introduce a customary clause on conditional capital that allows the planned conversion price and to increase the size of the available conditional capital. The issuance is also subject to getting certain confirmations from the auditors, the stock exchange and the tax authorities.
Should the EGM not amend the articles of association or should such confirmations not be available, the terms may be amended or the issuance may be canceled. Cicor has the right to delay the issuance of the mandatory convertible bonds to OEP for a period of twelve months, to issue in tranches or to not issue at all. Towards all other shareholders, Cicor has a right to claw-back all mandatory convertible bonds (promptly issued) for a period of twelve months, provided always, no convertible bonds have been issued to OEP until that point in time. This right of delayed issue and claw-back shall ensure the required flexibility of Cicor should the funds not be needed for financing any further acquisitions.
Daniel Frutig, chairman of the board, commented, "Cicor is pleased to issue this mandatory convertible bond which is equal to issuing shares. It gives Cicor immediately the necessary flexibility to be ready to further consolidate the market. Cicor appreciates to receive the support from its large shareholder OEP for this issuance."
Share on:
Testimonial
"Our marketing partnership with I-Connect007 is already delivering. Just a day after our press release went live, we received a direct inquiry about our updated products!"
Rachael Temple - AlltematedSuggested Items
Molex Boosts AI Clusters with Optical Interconnects
03/19/2026 | PRNewswireMolex, a global electronics leader and connectivity innovator, has unveiled a robust product roadmap for delivering the full technology stack needed to address the massive scaling requirements of hyperscale data centers.
Florida Manufacturers Need Workers. Here’s How to Make It Happen
12/19/2025 | Lea Tavani, Mack TechnologiesIn April, President Donald Trump signed an executive order to encourage the expansion of apprenticeships, setting a goal of 1 million new active apprentices. The order demonstrates that policymakers now understand what manufacturing employers have long felt: If we want to bring more manufacturing back to the United States, we need ways to build talent pipelines.
Flexible Circuit Technologies Welcomes Regional Business Development Manager Ryan Walsh
11/11/2025 | Flexible Circuit TechnologiesFlexible Circuit Technologies a Minnesota-based flexible circuit and advanced electronics contract manufacturer, welcomes Ryan Walsh as Regional Business Development Manager.
Jiva Leading the Charge Toward Sustainable Innovation
09/30/2025 | Marcy LaRont, PCB007 MagazineEnvironmental sustainability in business—product circularity—is a high priority these days. “Circularity,” the term meant to replace “recycling,” in its simplest definition, describes a full circle life for electronic products and all their elements. The result is re-use or a near-complete reintroduction of the base materials back into the supply chain, leaving very little left for waste. For what cannot be reused productively, the ultimate hope is to have better, less harmful means of disposal and/or materials that can seamlessly and harmlessly decompose and integrate back into the natural environment. That is where Jiva and Soluboard come in.
It’s Only Common Sense: How to Win Back Lost Customers
07/28/2025 | Dan Beaulieu -- Column: It's Only Common SenseLosing customers is inevitable. However, while it’s tempting to focus solely on acquiring new customers, it’s significantly valuable to regain lost customers. I call it bringing home the orphans, and it requires understanding their needs, addressing their concerns, and reestablishing trust.