EQS-News: Redcare successfully executes placement of new convertible bonds and buys back part of the outstanding convertible bonds.

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Redcare successfully executes placement of new convertible bonds and buys back part of the outstanding convertible bonds.

Sevenum, the Netherlands, 08 April 2025. Redcare Pharmacy N.V., Europe’s leading e-pharmacy, has successfully placed senior unsecured convertible bonds amounting to EUR 300 million with a maturity of seven years. The bonds are convertible into ordinary shares, with a put option for the bond holders on the fifth anniversary. Concurrently, the Company repurchased approx. 70.2% of its outstanding senior unsecured EUR 225 million convertible bonds due 2028, which included a put option right for bond holders in January 2026. With the simultaneous and successful completion of these transactions, the Company pro-actively extended its debt maturity profile at favourable terms.

The new bonds have been issued at their principal amount of EUR 100,000 with a coupon of 1.75% per annum, payable semi-annually. The conversion price of EUR 173.74 corresponds to a conversion premium of 42.5% above the reference price of EUR 121.92, determined as the Xetra closing share price on 08 April 2025 minus a 7% discount. Unless previously converted, repaid or repurchased, the bonds will be redeemed at maturity on or around 16 April 2032 at their accreted redemption amount (the “Accreted Redemption Amount”), which has been set at 110% of the principal amount. In light of the Accreted Redemption Amount, the effective conversion price of the bonds is approx. EUR 191.11 at maturity, implying an effective premium of approx. 56.8%.

Redcare Pharmacy’s CFO, Jasper Eenhorst comments: “By rolling forward our debt obligations on attractive terms, we have strengthened our balance sheet and capital structure. The transactions provide funding certainty and flexibility for the coming years, enabling us to focus on executing our strategy. We have been able to benefit from the current strength of the convertible market, and by buying back the existing bonds we have successfully pre-empted refinancing risk and reduced potential dilution for shareholders.”

Redcare Pharmacy fulfilled close to 37 million orders in 2024, generating revenue of EUR 2.4 billion. Its active customer base is increasing rapidly and has surpassed the 13 million mark. Non-Rx sales have been growing at persistent, double-digit rates for many consecutive years, including in Q1 2025, as per the preliminary numbers published recently, while Rx sales in Germany are expanding at a very fast rate since the nationwide adoption of e-Rx in 2024.

The recent transactions support the Company’s continued growth and reflect a disciplined approach to capital markets, with a clear focus on managing potential dilution for existing shareholders.

The bonds were placed by way of an accelerated bookbuild with institutional investors. Goldman Sachs Bank Europe SE and Deutsche Bank acted as Joint Global Coordinators, Joint Bookrunners and Joint Dealer Managers.

Investor Relations Contact:

Monica Ambrosi (Associate Director, Investor Relations)

investors@redcare-pharmacy.com

Press Contact:

Sven Schirmer (Director, Corporate Communications)

press@redcare-pharmacy.com

About Redcare Pharmacy

Originally founded in 2001, Redcare Pharmacy N.V. (formerly known as Shop Apotheke Europe N.V.) today is the leading e-pharmacy in Europe, currently active in seven countries: Germany, Austria, France, Belgium, Italy, the Netherlands and Switzerland.
Headquartered in Sevenum, close to the Dutch city of Venlo and in the heart of Europe, the company has locations in Cologne, Berlin, Munich, Tongeren, Warsaw, Milan, Lille and Eindhoven.

As the one-stop pharmacy of the future, Redcare Pharmacy offers over 13 million active customers a wide range of more than 250,000 products at attractive and fair prices. Besides OTC, nutritional supplements, beauty and personal care products as well as an extensive assortment of health-related products in all markets, the company also provides prescription drugs for customers in Germany, Switzerland and the Netherlands.

Pharmaceutical safety is of top priority. Being a pharmacy at its core, Redcare stands for comprehensive pharmaceutical consultation service. Since care is at the heart of everything Redcare does, the company provides services for all stages of life and health. This ranges from its marketplaces to unique delivery options and medication management.

Redcare Pharmacy N.V. has been listed on the Regulated Market of the Frankfurt Stock Exchange (Prime Standard) since 2016. As of 19 June 2023, the company is a member of the MDAX selection index.

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