Rubean AG: Capital Increase and Loan Conversion with Cyclebit Group

Rubean AG has successfully placed a capital increase and converted a convertible loan from Cyclebit Group into a regular loan. The Munich-based company increased its share capital by 10 percent through a private placement, excluding subscription rights. A total of 327,626 shares were issued at an average price of EUR 6.06 per share, raising the company's share capital from EUR 3.276 million to EUR 3.604 million.

Additionally, Rubean AG and Cyclebit Group have reached an agreement regarding the expiration of a EUR 3.4 million convertible loan from 2022. Cyclebit Group decided to waive the conversion option into shares, and the loan will now be repaid in three installments along with accrued interest.

The EUR 1.984 million from the capital increase will primarily be used to support Rubean’s ongoing growth. The company's innovative software point-of-sale solutions, especially the mobile softPOS solution PhonePOS, are utilized by a wide range of financial institutions and merchants across Europe.