Rubean AG signed a memorandum of understanding to receive €3.4 million convertible loan on February 10, 2022. The transaction will include participation from existing investor Cyclebit Group Ltd. The convertible loan can be converted at any time within the term of 24 months at a conversion price of €12.50 per share or, if necessary, after six months after disbursement for a lower price calculated from the six-month average into a current total of 271,750 shares corresponds to approx. 10% of the share capital.

The transaction is subject to the approval of the shareholders of company, which is to be obtained in the course of an extraordinary general meeting.