Berlin/Leipzig/Teltow, 18. December 2020, 04:40 p.m. –co.don Aktiengesellschaft, Teltow (ISIN DE000A1K0227; WKN A1K022) („Company“) has entered into an agreement with Bauerfeind Beteiligungsgesellschaft mbH („BBG“) regarding the exercise of 435.000 stock options that have been issued by the Company in June 2018 together with bonds with warrants. The exercise of the options by BBG will generate proceeds of approximately EUR 3.7 million for the Company.
These proceeds will be used by the Company to cover additional capital requirements in the same amount which are expected as a result of the COVID-19 pandemic. The reason for the additional demand in capital is an expected loss of sales due to the discontinuation of treatments. The treatment of cartilage defects in joints is a non-essential procedure. Procedures therefore need to be postponed by many users due to the imposition of measures against the COVID-19 pandemic or because of internal hospital requirements.
The Company therefore expects a significant decline in incoming orders in the first and second quarters of the financial year of 2021.
The full impact of the COVID-19 pandemic in 2021 is currently not foreseeable and will be analyzed by the Company in the budget planning process.
As a result of the exercise of the stock options, the Company's share capital will increase to EUR 43,729,133 and thus increase by approximately 9 %
Notifying person: Tilman Bur, Executive Board
Director Corporate Communications
Investor Relations / Public Relations
T: +49 (0)30-240352330
F: +49 (0)30-240352309