Schmid Receives Repeat Order for Advanced HDI-ML and mSAP Equipment; Announces $20 Million Convertible Notes Offering
MT Newswires Live
Jul 08
Schmid Group (SHMD) has received a repeat order exceeding 37 million euros ($42.2 million) from a Chinese customer for advanced HDI-ML and mSAP production equipment, the company said late Tuesday.
The company said it is reviewing an upward revision of its full-year 2026 order guidance following the recent acceleration in order intake.
Separately, the company said it will issue and sell $20 million in senior convertible notes in a private placement.
The notes will mature on Jan. 14, 2029, unless converted earlier into ordinary shares.
The net proceeds from the issuance of the notes will be used to fund the capital needed for order intake and its own manufacturing plant in China, the company said.
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