Fox E-Mobility AG Announces New Financing Strategy with Atlas

Fox E-mobility AG, in collaboration with Atlas Special Opportunities LLC, has extended their convertible debt agreement until July 20, 2025. This extension changes the previous interest-free arrangement to a financing agreement with a 10% annual interest rate, backed by Fox Automotive Switzerland AG. This strategic move secures financing options for Fox E-mobility AG up to a total of EUR 22 million, which helps the company maintain its financial stability and operational continuation until the end of 2025.

Additionally, the company is finalizing refinancing agreements and security arrangements with Cime Invest AG and other lenders from its shareholder base. Another notable aspect of their financial strategy is the inclusion of a EUR 10 million investment from the Yangji Group, anticipated within 2024, following a postponement from the previous year.

Fox E-mobility AG continues to focus on combining equity and debt financing primarily through strong partnerships, strategically avoiding traditional bank loans. The company aims to integrate partners from not only the financial world but also the automotive and energy sectors.