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Wirecard To Get EUR 900 Mln Investment From SoftBank; Signs MoU For Partnership

Germany's Wirecard AG (WRCDF.PK) announced Wednesday that it has signed a binding term sheet, under which Japanese conglomerate SoftBank Group Corp. (SFTBF.PK) will invest approximately 900 million euros through convertible bonds.

Wirecard will issue convertible bonds with a term of five years exclusively to SoftBank, convertible to 6.923.076 ordinary Wirecard shares at 130 euros per Wirecard share.Atr present, this corresponds to about 5.6% of common stock.

The planned issuance of convertible bonds is subject to the approval of Wirecard's Annual Shareholders meeting to be held on June 18.

The companies have also signed a memorandum of understanding or MoU on a strategic partnership for digital payment solutions.

Under the deal, SoftBank will support Wirecard's geographic expansion into Japan and South Korea markets. It will also provide collaboration opportunities within SoftBank's global portfolio in digital payments, data-analytics/AI and other innovative digital financial services.

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