Meyer Burger plans capital increase of up to 250 million francs
Post date: 04/10/2022 - 10:29
Swiss-based Meyer Burger Technology Ltd is planning an ordinary capital increase through a rights offering with targeted gross proceeds of up to 250 million Swiss francs (USD 252.7 million). The funds are intended to enable the expansion of annual production capacity for solar cells and modules to around three gigawatts (GW) by the end of 2024. Cell production is to be expanded at the Thalheim site in Germany, and module production at the Goodyear site in Arizona, USA, in order to benefit from tax credits under the U.S. Inflation Reduction Act. Module production capacity at Freiberg in Germany currently stands at 400 megawatts and has been expanded to 1.4 GW since September (independently of the capital increase).
The capital increase is expected to be approved at an extraordinary general meeting on October 28, 2022, and will include a public offering in Switzerland and private placements to certain institutional investors outside Switzerland and the United States. Details are to be determined and announced by the Board of Directors shortly before the General Meeting.