cyan AG resolves convertible bond program with a total volume of up to EUR 8.4 million

cyan AG resolves convertible bond program with a total volume of up to EUR 8.4 million

Munich, January 14, 2021 – The Management Board of cyan AG today resolved, with the approval of the Supervisory Board, a “Convertible Notes Funding Program (“CNFP”)”, which authorizes the issuance of convertible notes with a total volume of up to EUR 8.4 million. The exclusive investor for the CNFP is the Swiss company Nice & Green SA, which specializes in equity-related investments and financing of medium-sized growth companies.

The program comprises eight successive tranches, each with a total nominal amount of EUR 1.05 million. Each tranche will consist of 105 convertible bonds with a nominal value of EUR 10,000 per convertible bond. The term is 24 months from the date of issue. The issue will be made excluding the subscription rights of existing shareholders.

The interest rate is 0.0%. The conversion price is set at 95% of the lowest daily volume-weighted average price of the last six trading days (XETRA) before exercise of the conversion right. It amounts to at least EUR 10.47 and is thus at least 80% of the value of the average closing price (XETRA) of the share on the ten trading days prior to the issue of the bond. After the mandatory issuance of the first tranche, cyan AG has the right, but not the obligation, to issue the outstanding seven tranches. cyan AG has simultaneously entered into an agreement with NICE & GREEN S.A., Switzerland, under which NICE & GREEN S.A. is obligated to subscribe for the respective tranches issued.

The transaction was accompanied by ODDO SEYDLER BANK AG as Capital Markets Advisor.

Frank von Seth, CEO of cyan AG: “cyan is in a crucial phase of its development. The prevailing COVID-19 pandemic has slowed down our business but at the same time dramatically increased the importance of cybersecurity in the context of increased digitalization. With a rapidly growing customer base, cyan’s market position and visibility have improved significantly and it is now time to expand both geographically and product-wise. We must continue to invest in our technology and further strengthen our brand – the most urgent goal here must be recurring revenues with as many additional customers as possible. The convertible bond gives us important financial leeway to exploit our growth opportunities in the market”.

Alex Schütz, Supervisory Board of cyan AG: “We are pleased to have Nice & Green on board as a financially strong partner and long-term oriented investor with a high understanding of our technologically driven business model with global growth potential”.

Benoit Villers, Managing Partner of Nice & Green: “We are convinced of the technological positioning as well as the medium-term growth potential of cyan AG and are pleased to accompany this innovative company as a long-term financing partner and investor”.

About Nice & Green
Nice & Green is an independent Swiss Investment company who aims at combining investment and financing for small and mid-sized listed companies to help them secure funding needed for their growth.
Nice & Green is owned and managed by two principals and capitalizes on establishing long term financial partnership with the companies it assists.

About cyan
cyan AG (XETR: CYR) is a leading, globally active provider of intelligent IT security solutions and telecom services with more than 15 years of experience in the IT industry. The main business areas of the company are cybersecurity solutions for end customers of mobile and fixed network internet service providers (MNO), virtual mobile network operators (MVNO) as well as banks and insurance companies. cyan’s solutions are integrated into the business partner’s infrastructure and then offered to their end customers (“B2B2C”) under their name (“white-labeled”).

Today, the group of companies has more than 50 international customers, through which cyan products are sold to approximately 50 million end customers. cyan can offer products along the entire value chain from platform, data optimization to cyber security. In addition, cyan operates its own Research & Development Centre with the aim of identifying trends in the industry at an early stage and developing optimal product solutions. In December 2018, cyan was able to win a global group contract with Orange in an international tendering process. cyan’s cooperation partners include the world’s leading insurance broker Aon or Magenta Telekom.

Further information is available at www.cyansecurity.com.

Investor Contact:
cyan AG
Tel. +49 89 71042 2073
E-mail: [email protected]

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