Evotec SE Raises €116.1 Million through Convertible Bonds

Hamburg-based Evotec SE has successfully placed €116.1 million in senior unsecured convertible bonds. These bonds, set to mature in 2033, can be converted into new or existing ordinary shares of the company. Shareholders' pre-emption rights were not included in this arrangement.

The bonds will last seven years, offering a put right for investors after five years. Bearers will receive an annual interest rate of 2.625%, with semi-annual payments. At maturity, the redemption amount will be 110% of the principal, with a yield of 3.882% upon maturity. The initial conversion price is set at €6.5313, a 37.5% premium over the reference share price of €4.75. Settlement is slated for 21 May 2026, with plans to list the bonds on the Frankfurt Stock Exchange.

Proceeds will fund Evotec’s 'Project Horizon', aiming to enhance their operational model for long-term growth.