TORCÉ, France--(BUSINESS WIRE)--Regulatory News:
Groupe OKwind (FR0013439627 - ALOKW) (Paris:ALOKW), which is specialized in the design, manufacture and sale of smart energy generation systems dedicated to self-consumption, joins forces with Sofiprotéol, a financing company for the vegetable oil and protein industry, to accelerate its development through the issue of bonds convertible into shares for an amount of 3 million euros.
Since its creation, Groupe OKwind has been providing an immediate response to the energy and environmental emergency by limiting the use of fossil fuels despite increasing needs. Groupe OKwind offers a low-carbon solution based on solar energy, which allows its customers (farms, local authorities, industrial sites and individuals) to produce and consume their own renewable energy.
This solution combines two complementary areas of expertise: solar energy generation, thanks to high-performance and connected photovoltaic trackers, as well as energy management, which ensures optimization of energy production and consumption. In addition, the production model designed for self-consumption guarantees a stable cost of electricity for a 30-year period, a real value-added in the current context of inflation.
As a key player in the self-consumption of renewable energy, Groupe OKwind is benefiting from sustained growth thanks to the quality of its solutions, exponential market potential as well as disruptive innovations (dual-axis and dual-sided solar trackers, energy management solutions, artificial intelligence algorithms, …). Based on these assets, Groupe OKwind now intends to accelerate the deployment of its solutions in France and abroad. To support this new phase in the company’s growth, the conclusion of this partnership with Sofiprotéol further strengthens the 20.5 million euros fundraising carried out in the context of Groupe OKwind’s IPO on Euronext Growth in July 2022.
Thanks to this agreement and the additional financial resources provided by Sofiprotéol, Groupe OKwind will accelerate the deployment of a low-carbon and competitive energy source, particularly within farms, thus strengthening its action in favor of the energy transition and its support to the agricultural sector, which is in line with the Raison d'Être of its partner, "Serving the Earth".
Luc OZANNE, Investment Director at Sofiprotéol, said: "The development, positioning and strategy of Groupe OKwind in favor of a renewable energy source that supports energy self-sufficiency and the improvement of the sustainability and economic performance of farms are of great interest to us. Groupe OKwind's project is therefore perfectly in line with our mission statement "Serving the Earth" and our involvement in the development of solutions and services for farmers, especially breeders."
Louis MAURICE, CEO of Groupe OKwind, adds: "In the face of soaring electricity prices in the short and medium term, self-consumption combined with energy management stands out as a reference solution, which can be deployed immediately to allow our customers to regain a lot of flexibility in terms of economic competitiveness while reducing their carbon footprint in their business. This new situation highlights the relevance of Groupe OKwind's development strategy. The partnership with Sofiprotéol aims to accelerate the deployment of our solutions with farms, our main market, and thus contribute to the irrigation of scattered territories with locally produced green energy.”
***
Terms of the operation
Groupe OKwind has issued today 30 bonds convertible into shares with a nominal value of 100,000 euros each, fully subscribed for a price equal to their nominal value by Sofiprotéol.
The convertible bonds will not be subject to an application for admission to trading on Euronext Growth Paris, and will therefore not be listed. These convertible bonds are not accompanied by any securities, and in particular by any warrants.
Amount of bonds convertible into shares |
€3.0m |
Term of the bond convertible into shares |
4 years old |
Interest rates |
Interest paid: 5.0% per year Non-conversion premium: 3.0% per year |
Interest rate adjustment criteria |
+/- 0.50% per year depending on the achievement of CSR objectives by Groupe Okwind, including: - reduction in the severity rate for work-related accidents by 10% per year; - reduction of the Group's greenhouse gas emissions (scopes 1 and 2) by 10% per year;
- balanced representation on the Board of Directors of Groupe OKwind (at least 30% of
|
Conversion price |
€13.5125, i.e. a premium of +25% compared to the IPO price, i.e. a maximum of 222,017 new shares which can be issued. Sofiprotéol will have the option to exercise its conversion right, at its discretion, at any time from the date of issuance of the 2022 Convertible Bonds.
In the event of conversion, the holding of a shareholder who would have held 1.0% of the
|
Events of default |
Usuals |
Transfer of bonds convertible into share |
Convertible bonds will be non-transferable, except for customary exceptions,
|
New actions |
The new shares issued upon conversion of the convertible bonds will carry current dividend rights and will have the same rights
|
Stakeholders in the operation
Groupe OKwind:
- Louis MAURICE
Sofiprotéol:
- Luc OZANNE
- Antoine DAULTON
- Gaspard d'AUVIGNY
- Anne-Sophie DUBOURG
- Florence GRENIER
M&A Advisory:
- TP ICAP: Alice AYME and Charles-Henri BERBAIN
About Sofiprotéol
Founded in 1983 as an initiative by the agricultural industry, Sofiprotéol, a financing and development company and subsidiary of the Avril Group, is committed to agro-industrial and food companies.
As an enduring partner, Sofiprotéol assists companies in the sector and in France’s agro-industry more broadly, over the long-term, in particular to consolidate their equity capital during development operations or investments aimed at increasing their competitiveness. From credit to equity, Sofiprotéol's financing solutions are based on an industrial and entrepreneurial approach. They support development and innovation at all stages of the agribusiness and food sectors: from upstream agricultural production (seeds, genetics, cop inputs, etc.) to downstream (agro-industrial and food sectors), including collecting organizations and primary processing.
For more information: www.sofiproteol.com
About Groupe OKwind
Founded in 2009 by Louis Maurice, Chairman and CEO, Groupe OKwind develops solutions for the production and consumption of green energy in short supply chains. Our comprehensive approach, combining energy generation and management, aims to strengthen energy autonomy and thus accelerate the ecological transition. Thanks to its unique technological ecosystem, Groupe Okwind enables self-consumption to assert itself as a new avenue for energy. A solution that can be quickly deployed, managed in real time and at a competitive price, without subsidies. Every day, we work to deploy local, low-carbon, fixed-cost energy for professionals and individuals. In 2021, Groupe OKwind generated consolidated revenue of €25 million and today has 150 employees, with more than 2,000 installations throughout France.
For more information: www.okwind.fr