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2CRSi SA: 2CRSi strengthens its cash flow

DJ 2CRSi SA: 2CRSi STRENGTHENS ITS CASH FLOW

2CRSi SA 2CRSi SA: 2CRSi STRENGTHENS ITS CASH FLOW 29-Dec-2022 / 17:45 CET/CEST Dissemination of a French Regulatory News, transmitted by EQS Group. The issuer is solely responsible for the content of this announcement.

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2CRSi STRENGTHENS ITS CASH FLOW

through bond issues

subscribed by European investors

-- Issue of convertible bonds for EUR2.4 million

-- Issue[1] of a bond for EUR2.6 million

Strasbourg (France), 28 December 2022 - 2CRSi, a designer and manufacturer of high-performance and energy-efficient IT servers, is today announcing that it has raised financing through a bond issue comprising a convertible bond issue for EUR2.4 million, subscribed by a group of European investors, and a simple bond issue1 for EUR2.6 million.

CASH FLOW STRENGTHENED

Alain Wilmouth, CEO of the 2CRSi Group, said: "The Group initiated a phase of rapid growth in September 2022. As part of our 'Mission 2027' plan launched in November 2022 we plan to double our revenue. The various crises having occurred since the beginning of 2020 require us to pay particular attention to the financial resources needed to reduce operational risks and ramp up the marketing of our innovations. The EUR2.4 million raised in 'quasi-equity' supplements long-term debt financing currently under negotiation, which will cover the needs of our current and future growth."

Main features of the bond issues

The issue of the convertible bonds was decided today by the Chairman and Chief Executive Officer, using the sub-delegation granted to him on 27 December 2022 by the Board of Directors, itself using the delegation granted to it by the Company's General Shareholders' Meeting of 31 August 2022[2] under the 19th resolution with regard to the issue of convertible bonds.

The convertible bonds and simple bonds were subscribed at 92% and 100% of their nominal value, respectively. They will not bear interest and will mature on 28 December 2024.

The amount of cash related to the issue of convertible bonds is EUR2.4 million and will be paid in full on 30/12/2022.

The amount of cash related to the issue of simple bonds will be EUR2.6 million, paid in one instalment at the time of the lifting (or waiver) of the conditions precedent, before the end of September 2023.

The conversion price of the convertible bonds will depend on the stock market price at the time of conversion[3] in accordance with the price rule and the ceiling set by the General Meeting.

In the event that the bonds have not been fully converted and/or redeemed at maturity, they will be repaid in full by the Company for 100% of their nominal value.

For information purposes, if all the convertible bonds were converted on the basis of the 2CRSi share price at the close of 27 December 2022[4], the stake of a shareholder holding 1.00% of the capital of 2CRSi before implementation would become 0.95% of the capital on an undiluted basis and 0.90% of the capital on a diluted basis (taking into account existing dilutive instruments).

The new shares resulting from the conversion of convertible bonds will be subject to all the provisions set out in the articles of association, will be fully assimilated to the old ordinary shares, and will enjoy the same rights.

The bonds will not be the subject of any request for admission to trading on Euronext Growth.

This transaction does not require the drafting of a prospectus to be submitted for approval to the AMF (French Financial Markets Authority).

The deal was advised and structured by Vester Finance, which also subscribed to the two bond issues.

RISK FACTORS

The risk factors affecting the Company are detailed in paragraph 5.2 of the 2021-2022 Universal Registration Document as published by the Company on 7 September 2022 and available on the Company's website (at https:// investors.2crsi.com/fr/rapports-annuels-et-prospectus/).

About 2CRSi

Founded in Strasbourg (France), the 2CRSi Group develops, produces and sells customised, high-performance and environmentally-friendly servers. In the 2021-2022 financial year, the Group generated revenue of EUR183.6 million. The Group today has around 390 employees and markets its offer of innovative solutions (processing, storage and network) in more than 50 countries. 2CRSi has been listed since June 2018 on the regulated market of Euronext in Paris (ISIN: FR0013341781) and its shares were transferred to Euronext Growth on 25 November 2022. Find out more at www.2crsi.com

2CRSi contacts

2CRSi 
                   2CRSi 
Philippe Steinmetz 
                   Joseph Gonnachon 
Group Chief Financial Officer 
                   Chief Marketing Officer 
investors@2crsi.com 
                   investors@2crsi.com 
+33 (0)3 68 41 10 70 
                   +33 (0)3 68 41 10 70 
 
                       Actifin                Actifin 
Actifin 
                       Mathias Jordan             Mathias Jordan 
Simon Derbanne Financial Communication 
sderbanne@actifin.fr             Financial Press Relations       Financial Press Relations 
                       mjordan@actifin.fr           mjordan@actifin.fr 
+33 (0)1 56 88 11 14 
                           +33 (0)1 56 88 11 26      +33 (0)1 56 88 11 26 

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[1] Subject to the conclusion of a syndicated loan for approximately EUR20 million before end-September 2023.

[2] Delegation to increase capital with the cancellation of shareholders' preferential subscription rights in favour of a category of persons meeting specific characteristics.

[3] At least equal to the lowest amount between EUR3.73 and 94% of a weighted average price of the 2CRSi share prior to notification of conversion.

[4] i.e. EUR3.15.

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Regulatory filing PDF file File: 2CRSi STRENGTHENS ITS CASH FLOW

=---------------------------------------------------- 
Language:    English 
Company:     2CRSi SA 
         32, rue Jacobi-Netter 
         67200 Strasbourg 
         France 
Phone:      +33 3 68 41 10 70 
E-mail:     investors@2crsi.com 
Internet:    www.2crsi.com 
ISIN:      FR0013341781 
Euronext Ticker: 2CRSI 
AMF Category:  Inside information / Other releases 
EQS News ID:   1523859 
 
End of Announcement EQS News Service 
=------------------------------------------------------------------------------------ 

1523859 29-Dec-2022 CET/CEST

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1523859&application_name=news

(END) Dow Jones Newswires

December 29, 2022 11:45 ET (16:45 GMT)

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