10-12-2020 | Financial news | Press releases | Corporate & Ad-hoc news

paragon Signs Letter of Intent With Swiss Investors for First Partial Sale of Blocks of Voltabox Shares

Delbrück, Germany, December 10, 2020 – paragon [ISIN DE0005558696] has signed a letter of intent with Swiss investors for the sale of the first block of Voltabox AG shares. The LOI comprises 18% of the share capital of the paragon financial investment and the granting of call options for acquiring further shares of up to around 32% of Voltabox’s share capital. Meanwhile, the revolutionary Voltabox-Flow-Shape-Design® (FSD) battery concept is completely reshuffling the cards in the battery systems market, according to paragon’s Management. paragon expects this to increase the value of its shares.

  • paragon signs LOI for sale of first blocks of shares and grant of call options to Swiss investors

  • Simultaneous successful reinvestment of equity positions over the counter

  • Optimistic forecast for 2021: Approximately € 140 million in automotive revenues at 12 to 15% EBITDA margin and € 10 to 12 million free cash flow expected