Global EcoPower S.A. (ENXTPA:ALGEP) announced a private placement of 10,000 convertible bonds with OCABSA warrants at €100 per bond, 90,000 second series warrants, and 22,500 third series warrants for gross proceeds of €1,000,000 on July 20, 2015. The bonds will be issued at its par value. The transaction included participation from Atlas Alpha Yield Fund, a fund managed by Atlas Capital Markets.

The conversion and the exercise of the entirety of the OCABSA share warrants and the stock warrants would to allow it to reinforce the equity of the company through potential capital increases of a maximum total amount of €13.25 million. The bonds will mature on July 21, 2018. The warrants will expire on July 21, 2018.

The series one and series three warrants are exercisable at the initiative of the investor whereas warrants two are exercisable at the initiative of the company. The bonds with warrants will not be subject to early repayment, with the exception of the occurrence of an event of default or a significant change of control under the conditions defined by the convention. The transaction was approved by the board of directors of the company.