10. Februar 2022
- Binding discussions about the subscription of a convertible loan with a volume of 3.4 million euros by Cyclebit for financing purposes
- Cyclebit also interested in increasing its stake by swapping shares
Munich, February 10, 2022: Rubean AG and CYCLEBIT GROUP LTD ("CYCLEBIT"), Lemesos/Cyprus, a fintech company in the payment sector, today signed a memorandum of understanding according to which CYCLEBIT will invest around EUR 3.4 million. would like to invest in Rubean as part of a financing under a convertible loan. In this context, there are also plans to establish a strategic partnership in the field of digital payment solutions.
As part of the financing by CYCLEBIT, a convertible loan is to be issued, which can be redeemed at any time within the term of 24 months at the conversion price of EUR 12.50 per Rubean share or after six months after payment, if necessary at a lower rate calculated from the six-month average in currently a total of 271,750 shares (corresponds to approx. 10% of the share capital) can be converted. The implementation of the measure is subject, among other things, to the approval of Rubean shareholders, which is to be obtained at an extraordinary general meeting.
Part of the interest of CYCLEBIT is also the acquisition or receipt of further shares by way of a direct or indirect share exchange after the first step above. The Executive Board and the Supervisory Board will examine CYCLEBIT's further interest in a larger stake in Rubean and then decide to what extent this interest can be met.
Hermann Geupel
Board of Directors
About CYCLEBIT GROUP:
Founded in 2012, Cyclebit Group is a global payments and SaaS provider. Core products include card acquiring, point-of-sale (POS) service and marketplace solutions. The company recently launched crypto and SoftPOS offerings, both billion-dollar verticals where the company already has leadership positions in select markets. In 2019, the company broke even and is currently growing profitably at an exponential rate.
About Rubean:
Rubean AG has been an established software developer in the financial sector for 20 years. The company is now growing with the development of innovative solutions for mobile payments. These include the mobile point-of-sale terminal solution PhonePOS, which was developed in cooperation with CCV. Rubean is listed on the m:access of the Munich Stock Exchange as well as on the Frankfurt, Berlin and Düsseldorf OTC markets and on Tradegate and Quotrix.
As part of the financing by CYCLEBIT, a convertible loan is to be issued, which can be redeemed at any time within the term of 24 months at the conversion price of EUR 12.50 per Rubean share or after six months after payment, if necessary at a lower rate calculated from the six-month average in currently a total of 271,750 shares (corresponds to approx. 10% of the share capital) can be converted. The implementation of the measure is subject, among other things, to the approval of Rubean shareholders, which is to be obtained at an extraordinary general meeting.
Part of the interest of CYCLEBIT is also the acquisition or receipt of further shares by way of a direct or indirect share exchange after the first step above. The Executive Board and the Supervisory Board will examine CYCLEBIT's further interest in a larger stake in Rubean and then decide to what extent this interest can be met.
Hermann Geupel
Board of Directors
About CYCLEBIT GROUP:
Founded in 2012, Cyclebit Group is a global payments and SaaS provider. Core products include card acquiring, point-of-sale (POS) service and marketplace solutions. The company recently launched crypto and SoftPOS offerings, both billion-dollar verticals where the company already has leadership positions in select markets. In 2019, the company broke even and is currently growing profitably at an exponential rate.
About Rubean:
Rubean AG has been an established software developer in the financial sector for 20 years. The company is now growing with the development of innovative solutions for mobile payments. These include the mobile point-of-sale terminal solution PhonePOS, which was developed in cooperation with CCV. Rubean is listed on the m:access of the Munich Stock Exchange as well as on the Frankfurt, Berlin and Düsseldorf OTC markets and on Tradegate and Quotrix.
If you have any questions, please contact:
- Bernd Martin Krohn
- Rubean AG
- Kistlerhofstr. 168, D-81379 Munich
- +49 89 357560
- bernd.m.krohn@googlemail.com
- Jörg Bretschneider
- german communications AG
- Milchstraße 6 B, D-20148 Hamburg
- +49 40/46 88 33 0
- presse@german-communications.com
