Pentracor GmbH’s Private Placement Bond Offer

Heuking Kühn Lüer Wojtek advised Pentracor GmbH on the transaction.

The company intends to use the issue volume of up to EUR 15 million for a large-scale roll-out of its certified medical device innovation PentraSorb.

At a term of five years, the bond’s interest rate is fixed at 8.50 percent annually. The possible conversion right takes into account an optional IPO or sale of the company within the five-year term of the bond. If neither of these occurs, the bond redemption price will be 120 percent. The subscription period for the private placement with a minimum subscription of EUR 100,000 started on May 20, 2020. The bond it to be traded and listed on Frankfurt Stock Exchange’s Open Market in EUR 1,000 denominations from May 29, 2020.

Pentracor GmbH, based in Hennigsdorf near Berlin, was founded in 2010 as a spin-off from the university environment. With PentraSorb CRP, the company offers a new therapeutic, extracorporeal treatment method with a unique selling proposition for the sustained containment of progressive internal tissue damage in patients following acute events such as heart attack or stroke. Filtering the blood plasma outside the body, the “C-reactive protein” that causes tissue damage is selectively removed.

Structured by One Square Advisors GmbH (One Square Financial Engineers), IR.on AG acts as communications consultant for the bond issue. Subscription service is provided by BankM AG.

Heuking Kühn Lüer Wojtek’s team was led by Dr. Thorsten Kuthe (Picture), supported by Meike Dresler-Lenz and Sascha Beck (all Capital Markets), all Cologne.

Involved fees earner: Sascha Beck – Heuking Kühn Lüer Wojtek; Meike Dresler-Lenz – Heuking Kühn Lüer Wojtek; Thorsten Kuthe – Heuking Kühn Lüer Wojtek;

Law Firms: Heuking Kühn Lüer Wojtek;

Clients: Pentracor GmbH;