Endor AG Enters Exclusive Negotiations with CORSAIR for Restructuring

Landshut, May 8, 2024 - Endor AG has announced exclusive negotiations with US-based CORSAIR, a leader in high-performance gear for gamers and PC enthusiasts. The talks, part of a broader restructuring initiative under the German StaRUG framework, aim to address the company's imminent insolvency concerns.

The decision follows an extended review of various investor offers and discussions with its creditors. Upon completion of due diligence, a binding agreement is anticipated by the end of May. This agreement will be submitted to a restructuring court in Munich, marking a significant stride towards alleviating Endor's currently substantial debt levels, approximately EUR 70 million.

The restructuring plan involves a partial debt waiver from Endor's banks and a complete capital reduction. Consequently, this will lead to the delisting of Endor AG shares from the Open Market and shareholders will leave without compensation. CORSAIR will assume complete control, providing necessary financial resources to stabilize Endor without additional external debt.