-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueInventing the Future with SEL
Two years after launching its state-of-the-art PCB facility, SEL shares lessons in vision, execution, and innovation, plus insights from industry icons and technology leaders shaping the future of PCB fabrication.
Sales: From Pitch to PO
From the first cold call to finally receiving that first purchase order, the July PCB007 Magazine breaks down some critical parts of the sales stack. To up your sales game, read on!
The Hole Truth: Via Integrity in an HDI World
From the drilled hole to registration across multiple sequential lamination cycles, to the quality of your copper plating, via reliability in an HDI world is becoming an ever-greater challenge. This month we look at “The Hole Truth,” from creating the “perfect” via to how you can assure via quality and reliability, the first time, every time.
- Articles
- Columns
- Links
- Media kit
||| MENU - pcb007 Magazine
Cicor Announces Exercise of Reopening Option for the Issuance of Additional Mandatory Convertible Bonds
September 27, 2022 | CicorEstimated reading time: 1 minute

Cicor Group announces that it exercises its option to reopen its issuance of mandatory convertible bonds due 2027 in an amount corresponding to CHF 40,188,000 and to sell those bonds to One Equity Partners (OEP).
Cicor has achieved sales growth of 35.7% and EBITDA growth of 29.5% in the first half 2022. This was driven by organic growth and the acquisitions of Axis Electronics (Bedford, UK) and SMT Elektronik (Dresden, Germany). Cicor expects further organic growth from recently acquired and pending new business programs. To realize that growth, Cicor is doubling its manufacturing space in Thuan Anh City, Vietnam (close to Ho Chi Minh City) by acquiring a second factory near the existing site at an investment in the mid-single digit million CHF range. Additionally, Cicor targets the acquisition of further European EMS providers contributing to increase Cicor’s market share in its core regions and markets.
The mandatory convertible bond of Cicor Technologies Ltd. ("Cicor"; "Company"; ticker symbol of the registered shares listed on the SIX Swiss Exchange "CICN"), convertible into shares of the Company at the conversion price of CHF 47.50, were initially issued with an issuance volume of CHF 20 million. Pre-subscription rights for the total volume of CHF 60.188 million were granted to shareholders. Cicor reserved the option to reopen the issuance of the mandatory convertible bond up to a total issue amount of CHF 60.188 million within 12 months after the completion of the initial issuance and offering, depending on the financing needs of the Company. OEP 80 B.V. ("OEP") has, upon request by the Company, committed to purchase further bonds up to the total issue amount for this period.
Cicor herewith exercises its option to reopen the issuance of its mandatory convertible bonds in an amount corresponding to CHF 40,188,000 and its option to sell those newly issued bonds to OEP. The net proceeds of exercise of the reopening option increase Cicor's financial flexibility and strengthen its balance sheet in relation to future acquisitions.
The Company envisages to complete the reopening of its mandatory convertible bond issuance by September 30, 2022. The additional mandatory convertible bonds are expected to be admitted to provisional trading on the SIX Swiss Exchange on September 30, 2022.
Testimonial
"We’re proud to call I-Connect007 a trusted partner. Their innovative approach and industry insight made our podcast collaboration a success by connecting us with the right audience and delivering real results."
Julia McCaffrey - NCAB GroupSuggested Items
Ecolab to Acquire Ovivo’s Electronics Ultra-Pure Water Business
08/15/2025 | EcolabEcolab Inc. has entered into a definitive agreement to acquire Ovivo’s Electronics business, a leading and fast-growing global provider of breakthrough ultra-pure water technologies for semiconductor manufacturing.
Eltek Ltd. Reports Strong Second-Quarter 2025 Results
08/14/2025 | PR NewswireEltek Ltd., a global manufacturer and supplier of technologically advanced solutions in the field of printed circuit boards (PCBs), today announced its financial results for the quarter ended June 30, 2025.
Magnachip Semiconductor Announces YJ Kim to Step Down as CEO; Current Board Chairman Camillo Martino Appointed Interim CEO
08/14/2025 | PR NewswireMagnachip Semiconductor Corporation today announced that YJ Kim has agreed to step down as CEO and as a member of the Board of Directors, effective immediately. Camillo Martino, Chairman of the Board of Directors, has also been appointed Interim Chief Executive Officer, effective immediately.
Amidst U.S. Strategy Shift, Foxconn Sells Lordstown, Ohio Plant for $88 Million
08/07/2025 | I-Connect007 Editorial TeamAs part of a strategic shift in its US operations, Taiwan-based Foxconn (Hon Hai Precision Industry’s) subsidiaries are selling off assets at its Lordstown, Ohio, facility, the company announced on Aug. 4.
Element Solutions Inc Reports Strong Growth in Second Quarter 2025 Financial Results
08/01/2025 | Element Solutions Inc.Element Solutions Inc, a global and diversified specialty chemicals company, today announced its financial results for the three and six months ended June 30, 2025.