Avance advises Tencent Holdings Limited and its affiliate in the EUR 15 million convertible loan transaction with Remedy Entertainment. The loan carries an 8% annual non-cash interest and has a fixed conversion rate of EUR 27.2 per share, corresponding to a 63.86% premium of the closing price for Remedy’s shares on Nasdaq Helsinki on 26 September 2024.
The loan is subject to approval by Remedy’s Extraordinary General Meeting, which is expected to be held by 24 October 2024.