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DocMorris AG
- SIX:DOCM
DocMorris launches approx. CHF 45 million convertible bond offering to fund proposed 2026 bond buyback
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- Company
- DocMorris AG
- Listings
- SIX:DOCM
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- Financing
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- eqs-news.com
| Measure | Figure |
|---|---|
| New Bond Offering | approximately CHF 45 million |
| Tender Offer purchase price | CHF 1,035 per bond |
| Coupon | between 2.50% and 3.00% per annum |
| Stated maturity date | 24 August 2028 |
Figures are quoted from this announcement and selected automatically.
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Announcement Summary
DocMorris AG (ticker DOCM), through DocMorris Finance B.V., is launching an offering of new convertible bonds and planning a tender offer for its 2026 Bonds.
- The New Bond Offering covers approx. CHF 45 million of unsecured bonds due 2028, guaranteed by DocMorris AG and convertible into shares.
- The company intends to fund the envisaged early buyback of CHF 95.0 million Convertible Bond due September 2026; CHF 87.6 million is outstanding.
- Subject to successful pricing and provisional allocation today, the company plans to invite eligible 2026 Bond holders to tender for cash.
- The expected tender price is CHF 1,035 per bond, or 103.5% of par value, plus accrued and unpaid interest.
- The cooling-off period is expected October 23 to November 4; the Tender Offer is expected November 6 to November 12, ending 4:00pm CET.
The Tender Offer is independent and unconditional from the New Bond Offering and is based solely on planned publication of its notice on October 22, 2025.
Investor FAQs
DocMorris announced that DocMorris Finance B.V., its directly wholly-owned subsidiary, is launching an offering of approximately CHF 45 million senior unsecured bonds due in 2028. The New Bonds will be guaranteed by DocMorris AG and convertible into newly issued and/or existing registered shares of the Company.
DocMorris said the New Bond Offering is intended to fund the envisaged early buyback of its CHF 95.0 million Convertible Bond due in September 2026, of which CHF 87.6 million is outstanding. The Company said it continuously seeks to optimise its balance sheet and funding costs to support its strategy and deliver sustainable and profitable growth.
Subject to successful pricing and provisional allocation of the New Bonds, DocMorris plans to invite all eligible holders of the 2026 Bonds to tender their bonds for cash. The expected purchase price is CHF 1,035 per bond, corresponding to 103.5% of the par value, plus accrued and unpaid interest.
DocMorris expects the cooling-off period to start on 23 October 2025 and end on 4 November 2025. The Tender Offer period is expected to begin on 6 November 2025 and expire on 12 November 2025 at 4:00pm CET.
No, the Tender Offer is not yet open under the announcement. DocMorris said the press release is not an offer to repurchase the 2026 Bonds and that the Tender Offer will be made solely through the planned publication of the Tender Offer notice on 22 October 2025; it is also being executed independently and unconditionally from the New Bond Offering.
The New Bonds will have a denomination of CHF 200,000 each and will be issued at par. Unless previously converted, redeemed or repurchased and cancelled, they are expected to be redeemed at par on 24 August 2028 and are expected to carry a coupon of between 2.50% and 3.00% per annum, payable semi-annually in arrear.
DocMorris expects the initial conversion price to be set at a premium of between 20% and 25% over the reference share price. The reference share price will be the placement price per DocMorris share in the Concurrent Delta Placement.
DocMorris said its existing stock lending agreement will be amended to allow drawdowns in relation to the New Bonds for their duration, unless they are bought back, redeemed or converted. The arrangement will amount to up to 5.0 million existing and new shares, representing up to 9.8% of the Company’s issued share capital, while the New Bonds and the outstanding CHF 200 million Convertible Bond due in May 2029 remain outstanding.
Allocations are provisional and at the Issuer’s full discretion, subject to a reduction of the issue size relative to the aggregate principal amount of Bonds tendered under the Tender Offer, known as the Clawback. DocMorris expects definitive allocations to be announced after the end of the Tender Offer period.
The Issuer and DocMorris AG have agreed to a lock-up period starting on the pricing date and ending 90 days following the settlement date. The lock-up is subject to customary exceptions.
DocMorris said the New Bond Offering is being conducted solely on a private placement basis to professional clients in Switzerland and as a private offering outside Switzerland pursuant to RegS (Category 1), with no Rule 144A. The announcement also states that the securities are not being publicly offered outside Switzerland and that restrictions apply in various jurisdictions.
The Joint Bookrunners intend to conduct a simultaneous placement of existing DocMorris shares on behalf of buyers of the Convertible Bonds who wish to sell those shares in short sales to hedge the market risk of an investment in the Convertible Bonds. The placement price will be determined through an accelerated bookbuilding process, and DocMorris will not receive any proceeds from it.
DocMorris AG is a Swiss-based company operating in online pharmacy, telemedicine and marketplace services, with brands in Germany and other European countries. Its shares are listed on the SIX Swiss Exchange under securities number 4261528, ISIN CH0042615283 and ticker DOCM.
DocMorris’s stated agenda includes Sales 2025 on 20 January 2026, 2025 Full-year results and outlook 2026 on 19 March 2026, a Q1/2026 Trading update on 16 April 2026 and its Annual General Meeting in Zurich on 12 May 2026.
Source announcement
- Company
- DocMorris AG
- Title
- DocMorris launches approx. CHF 45 million Convertible Bonds due 2028 to fund early buyback of Convertible Bonds 2026
- Published
- Source site
- eqs-news.com
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