Endor AG Advances in Management and Financing Reorganization

Landshut, June 29, 2024 – Endor AG, a key player in simracing hardware and gaming technology, announced significant strides in its corporate reorganization. Amid ongoing restructuring, lending banks have renewed the standstill agreement on existing loans, providing Endor with the necessary flexibility to proceed with its measures.

The Supervisory Board has also extended the term of CEO and Chief Restructuring Officer Andres Ruff until September 30, 2024. This decision signals confidence in the restructuring plan's success. Ruff expressed optimism about securing Endor's future and promoting sustainable growth.

Further injecting liquidity, the strategic investor CORSAIR® has committed an additional four million euros. This financial boost signifies CORSAIR's strong commitment and supports the ongoing restructuring without external debt. Aiming for a full acquisition through the StaRUG process, CORSAIR's continued involvement is pivotal.

Endor’s CFO, Matthias Kosch, acknowledged the positive impact of both the renewed bank agreement and CORSAIR's financial support, emphasizing their role in maintaining liquidity and advancing the reorganization.