Rubean and Cyclebit Group sign convertible loan agreement

DGAP-News: Rubean AG / Keyword(s): Corporate Action/Alliance
Rubean and Cyclebit Group sign convertible loan agreement
27.04.2022 / 12:31
The issuer is solely responsible for the content of this announcement.

Company News

Rubean and Cyclebit Group sign convertible loan agreement

Rubean will receive 3.4 million euros in funding

Munich, April 27, 2022: Rubean AG, Munich, (ISIN: DE0005120802, WKN: 512080) and CYCLEBIT GROUP LTD (“CYCLEBIT”), Lemesos/Cyprus, a financial technology company in the payments industry, today signed a binding agreement on the underwriting of a convertible loan by CYCLEBIT. This will provide Rubean with funds in the amount of €3.4 million, while CYCLEBIT will receive the right to convert the loan receivable into 271,750 Rubean shares. If not converted, the loan has a term of two years and bears interest at 3.0% per annum. On March 18, 2022, the Extraordinary General Meeting of Rubean approved the convertible loan and the conditional capital requirement in the amount of ten percent of the existing share capital, corresponding to the 271,750 shares.

The two companies are currently studying the possibility of continuing their cooperation.

About CYCLEBIT GROUP: Cyclebit Group, founded in 2012, is a global payments and SaaS provider. Its main products include card acquiring, point-of-sale (POS) services and marketplace solutions. The company recently launched crypto and SoftPOS offerings, two billion-dollar industries in which the company is already a leader in some markets. In 2019, the company broke even and is currently experiencing profitable growth at an exponential rate.

About Rubean: Rubean AG is an established software developer in the financial sector. The company is now growing rapidly with the development of innovative mobile payment solutions. These include the mobile POS terminal solution PhonePOS, which was developed in cooperation with CCV. Rubean is listed on the m:access of the Munich Stock Exchange as well as on the OTC markets of Frankfurt, Berlin and Düsseldorf and on Tradegate and Quotrix.

For any questions, please contact:

Anna Sammer German communication AG
Rubean AG Jörg Bretschneider
Kistlerhofstr. 168, D-81379 Munich Milchstraße 6 B, D-20148 Hamburg
+49 89 357560 +49 40/46 88 33 0, Fax +49 40/46 88 33 40
[email protected] [email protected]

27.04.2022 Broadcast of a Corporate News, transmitted by the DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

DGAP distribution services include regulatory announcements, financial/corporate news and press releases.
Archive at www.dgap.de

Leslie M. Gill