Ebusco, a Netherlands-based motor vehicle manufacturer, has restructured loans due in mid-August 2025 and signed a contract for Ebusco Energy. An Extraordinary General Meeting is set for August 18, 2025. The company has transitioned to an outsourced manufacturing model under the Original Equipment Design approach. Significant management changes and a turnaround plan are in place. Ebusco has secured agreements with Heights Capital Management and Kabuto Technology Co., Ltd. to take over €12.8M in outstanding loans from ING Bank and Rabobank, with a potential for loans to be converted into shares in Ebusco after August 19, 2025.
The agreement on the restructuring of our debt and the signing of a major Ebusco Energy contract mark a key step in strengthening both our financial position and strategic direction. These developments reflect the confidence of our stakeholders in Ebusco, and we are very appreciative of their support for the company.
Subject to certain conditions and shareholder approval, Heights and Kabuto may choose to convert these loans into shares in Ebusco on or after 19 August 2025, at a price of the lower of €0.40 or a 10% discount to the 5-day VWAP before 19 August.
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