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Sirius Media launches a convertible bond issue to finance its projects
On April 26, 2024, Sirius Media, known for its audiovisual productions, announced a new issue of bonds convertible into shares for an amount of 2 million euros. This financial transaction was carried out with Atlas Special Opportunities.
These bonds, which cannot be converted into shares during an initial period of 90 days, aim to support the development of Sirius Media's subsidiaries and the launch of the animated film "Zak and Wowo, the Legend of Lendarys". Sirius Media President Paul Amsellem stressed that these funds will also improve the capital structure, facilitating negotiations for other bank financing.
It is important to note that, under the terms of the agreement, the shares resulting from the conversion of the bonds will likely be sold after the lock-up period, which could negatively influence the stock price.
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