Enerside Energy, S.A. announced that it has entered in a non-binding term sheet agreement for the issuance of convertible debt for gross proceeds of €6 million on July 20, 20222. The transaction will include participation from Inveready Asset Management, S.G.E.I.C., S.A. The company will issue convertible debt in two equally size tranches. The notes could be converted into shares at a price of €6.80 apiece, eighteen months following the subscription and until maturity.

The first tranche will mature in sixty months from the date of issuance and the second will matures in 57 months from the date of issuance. The company will pay interest of 3.49% per year for the convertible notes.