Mastrad Société Anonyme announced that it expects to receive €0.999996 million in funding from NextStage AM
November 11, 2018
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Mastrad Société Anonyme (ENXTPA:ALMAS) announced a private placement of 999,996 convertible bonds at a price of €1 per share for gross proceeds of €999,996 on November 12, 2018. The transaction will include participation from funds managed by NextStage AM. The company has issued bonds with two maturity dates November 13 2020 and November 13 2021. Each convertible bond has an annual nominal interest of 6% per annum and a non-conversion premium of 4% per annum. The bonds are convertible into 2,999,988 shares representing 15.28% of capital on the basis of three shares for one bond. The redemption will be at the unit price of the bond, €1 each, plus accrued interest and the non-conversion premium. The company will also issue one warrant, with every two warrants entitling for one common share at a price of €0.50 per share. The transaction has been approved by the board of directors of the company.
Mastrad specializes in designing and marketing of kitchen tools (steel soaps, ceramic chafing dishes, molds, cutting tools, spatulas, cooking mitts, peelers, corkscrews, thermometers, etc.). The group also distributes third-party kitchen products. Net sales break down by activity as follows:
- sale of kitchen tools (51.8%): items created by the group and manufactured by subcontractors. Products are marketed to independent retailers, large stores, mail-order companies, hotel and restaurant chains, etc.;
- design and distribution of kitchen tools (48.2%).
Net sales are distributed geographically as follows: France (29.3%), Europe (8.8%), the Americas (59.2%), Asia (2.4%) and other (0.3%).
MASTRAD 
