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DocMorris AG
- SIX:DOCM
DocMorris launches approx. CHF 100 million bond placement to repurchase 2028 convertibles
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- Company
- DocMorris AG
- Listings
- SIX:DOCM
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- Financing
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- Source announcement
- eqs-news.com
| Measure | Figure | Period |
|---|---|---|
| Senior unsecured bonds due 2031 | approximately CHF 100 million | Not stated |
| Outstanding CHF 49.6 million convertible bond due in August 2028 | CHF 49.6 million | due in August 2028 |
| Coupon | between 1.5% and 2.0% per annum | Not stated |
| Stated maturity date | 16 March 2031 | Not stated |
Figures are quoted from this announcement and selected automatically.
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Announcement Summary
DocMorris AG (DOCM) said its wholly owned subsidiary DocMorris Finance B.V. is launching New Bonds to support repurchases of the 2028 Bonds.
- The private placement covers approximately CHF 100 million of senior unsecured New Bonds due 2031, guaranteed by DocMorris AG and convertible into registered Shares.
- DocMorris intends to repurchase CHF 49.6 million of 2028 Bonds and reduce potential underlying Shares from 7.6 million to 7.0 million.
- The New Bonds are expected to carry 1.5% to 2.0% annual coupons; the initial conversion price is expected at a 27.5% to 32.5% premium.
- They will have CHF 200,000 denominations, be issued at par, and are expected to mature on March 16, 2031 unless converted, redeemed, or repurchased and canceled.
- From October 7, 2029, redemption is allowed if parity reaches CHF 260,000 per Bond on 20 of 30 consecutive trading days, or outside holders retain 15% or less.
- The reference price period ends September 11, 2026, when the conversion price will be announced; New Bonds and repurchases settle September 16, 2026.
The placement is solely for professional clients in Switzerland and outside Switzerland under RegS (Category 1), with no Rule 144A. Approximately CHF 10 million is for general corporate purposes; lock-up runs 90 days after settlement, subject to customary exceptions.
Investor FAQs
DocMorris announced the launch of a private placement of approximately CHF 100 million of senior unsecured Convertible Bonds due 2031. The New Bonds will be guaranteed by DocMorris AG and convertible into existing and/or newly issued registered shares of the Company, with proceeds intended partly to finance the early repurchase of the outstanding Convertible Bonds 2028.
DocMorris intends to use the transaction to repurchase its CHF 49.6 million Convertible Bonds due in August 2028 and to extend its maturity profile. The Company also intends to use incremental proceeds of around CHF 10 million from the transaction for general corporate purposes.
DocMorris is launching a private placement of approximately CHF 100 million of New Bonds. The New Bonds will have a denomination of CHF 200,000 each and will be issued at par.
The New Bonds are expected to mature on 16 March 2031 and, unless previously converted, redeemed or repurchased and cancelled, are expected to be redeemed at par on that date. The New Bonds are senior unsecured bonds guaranteed by DocMorris AG.
The New Bonds are expected to carry a coupon of between 1.5% and 2.0% per annum, payable semi-annually in arrears. The announcement says the existing Convertible Bonds 2028 carry a 3.0% coupon.
The initial conversion price is expected to be set at a premium of between 27.5% and 32.5% above the reference price. The reference price will be the average of the volume-weighted average prices of DocMorris shares on each of the three trading days between 9 September 2026 and 11 September 2026.
DocMorris says the New Bonds are expected to have a total of 7.0 million shares underlying them, compared with 7.6 million underlying shares for the Convertible Bonds 2028. The Company says this would reduce the number of shares potentially used upon conversion by around 0.6 million shares, at a substantially higher conversion price.
DocMorris intends to repurchase its outstanding CHF 49.6 million Convertible Bonds due in August 2028 through privately negotiated bilateral transactions with certain holders. The announcement describes this as a Concurrent Repurchase conducted alongside the issue of the New Bonds.
The Issuer will be entitled to redeem the New Bonds at their principal amount plus accrued but unpaid interest on or after 7 October 2029 if the parity value reaches or exceeds CHF 260,000 per Bond on at least 20 out of 30 consecutive trading days. It may also redeem them if the aggregate principal amount held by persons other than the Company and its subsidiaries falls to 15% or less of the aggregate principal amount originally issued.
DocMorris’s existing stock lending agreement will be amended to support investors’ hedging activities in relation to the New Bonds and will be reduced to reflect the repurchase and/or early redemption of the outstanding Convertible Bonds 2028. The Issuer and the Company have also agreed to a lock-up period beginning on the pricing date and ending 90 days after the settlement date, subject to customary exceptions.
The private placement is being conducted solely for professional clients in Switzerland and as a private offering outside Switzerland pursuant to RegS (Category 1). The announcement states that there is no Rule 144A offering and that the securities are not being publicly offered outside Switzerland.
The private placement, pricing and allocation, Concurrent Repurchase and reference price setting period began on 9 September 2026. The reference price setting period ends and the conversion price is due to be announced on 11 September 2026, while settlement of the New Bonds and the Concurrent Repurchase is scheduled for 16 September 2026.
DocMorris is a Swiss-based company operating in online pharmacy, telemedicine and marketplaces, with strong brands in Germany and other European countries. Its activities include deliveries from its logistics centre in Heerlen, the TeleClinic telemedicine platform and marketplaces for health and personal care products in Southern Europe.
DocMorris AG shares are listed on the SIX Swiss Exchange under securities number 4261528, ISIN CH0042615283 and ticker DOCM.
DocMorris’s stated agenda includes a Q3/2026 Trading Update on 15 October 2026, a Capital Markets Day 2026 on 12 November 2026 and a FY 2026 Sales Trading Update on 19 January 2027. It also lists 2026 full-year results and outlook 2027 on 18 March 2027, a Q1/2027 Trading Update on 15 April 2027 and the Annual General Meeting in Zurich on 12 May 2027.
Source announcement
- Company
- DocMorris AG
- Title
- DocMorris launches private placement of approx. CHF 100 million Convertible Bonds due 2031 to finance early repurchase of Convertible Bonds 2028
- Published
- Source site
- eqs-news.com
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