Zug/Switzerland - 14 September 2020 (pta042/14.09.2020/19:00) - ,
iQ International AG (ISIN CH0451424300 / WKN A2PAA5 / Symbol IQL), traded at the General Standard of the Frankfurt Stock Exchange with its head office in Zug, Switzerland has signed a (non-binding) term sheet for USD130 million of institutional financing.
iQ International has signed a term sheet for a USD130 million equity and debt financing with a major Asian institutional fund. The term sheet is not legally binding, and the financing is subject to due diligence and definitive agreements. The term sheet provides that the total financing will be approximately half in debt and half in preferred equity. The Company works towards a signing and closing of the financing in the last quarter of this year. The funds are intended for iQ International's expansion with the objective to acquire two corporations owning long-standing battery plants as well as the upfitting of the Company's SIA plant.(end)