Leclanché’s $40 Million Convertible Loan Facility

Baker McKenzie advised Yorkville Advisors in the transaction.

Yorkville Advisors Global LP, a US-based investment firm offering debt and equity financing to global, small and micro-cap companies, established an unsecured US dollars convertible loan facility with a maximum ceiling of USD 40 million for SIX Swiss Exchange listed Leclanché SA, one of the world’s leading energy storage companies.

The terms of the convertible loan facility allow Yorkville Advisors to convert each utilization made under the facility into Leclanché shares based on the prevailing Investor’s Spot Rate of Exchange at the time of conversion and divided by the prevailing share price at time of conversion. The agreement calls for the drawdowns of the facility within a two-year period. As a part of the consideration for providing the convertible loan facility, Leclanché SA grants a series of warrants to Yorkville Advisors, each such series having an initial exercise price of 120% of the closing price of the Leclanché shares on the day prior to the date a utilization under the loan facility is made.

The Baker McKenzie team was led by Partner Matthias Courvoisier (Picture) and Philip Spoerlé (Senior Associate, Capital Markets) and further comprised Tanja Schmid (Associate, Capital Markets).

Involved fees earner: Matthias Courvoisier – Baker McKenzie; Tanja Schmid – Baker McKenzie; Philip Spoerlé – Baker McKenzie;

Law Firms: Baker McKenzie;

Clients: Yorkville Advisors;