Wige Media AG raises funds via convertible bonds
Wige Media AG has secured financing totaling up to 3.5 million euros through convertible bonds offered to shareholders and institutional investors. The bonds carried an interest rate of six percent.
Frankfurt – Wige Media AG, a German media company, has successfully raised significant capital through the issuance of convertible bonds. In 2014, the company announced the placement of 1,842,106 convertible bonds with a total nominal value of 3.5 million euros. These bonds were offered to both the company's shareholders and institutional investors.
The bonds carried an annual interest rate of six percent and provided investors with the option to convert their holdings into the company's shares. The issuance was managed by Close Brother Seydler bank. The objective of this financing arrangement was to strengthen the company's financial position and support its growth strategy.
Prior to this, in August 2013, Wige Media AG had sought additional funding by issuing similar convertible bonds. At that time, the company stated that the issuance aimed to raise up to two million euros. This move was intended to improve the company's liquidity situation amidst rising costs and financial pressures.
These financing measures reflect the company's efforts to secure capital for its growth and financial stability in a dynamic media landscape.