EQS-Adhoc

Endor AG: Exclusive negotiations agreed with strategic investor – restructuring in accordance with StaRUG intended

EQS-Ad-hoc: Endor AG / Key word(s): Financing Endor AG: Exclusive negotiations agreed with strategic investor – restructuring in accordance with StaRUG intended 08-May-2024 / 22:57 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Endor AG: Exclusive negotiations agreed with strategic investor – restructuring in accordance with StaRUG intended Landshut, May 8, 2024 - The Management Board entered into a term sheet to negotiate exclusively with US-based leader in high-performance gear and systems for gamers, content creators, and PC enthusiasts CORSAIR (Nasdaq: CRSR) on the restructuring of the company, concluding an open-ended and intensive examination of various offers from investors and after consultation with its lending banks. This represents a significant milestone in the sustainable reduction of the company’s debt and creates a positive outlook for the company.

As part of the process, the Management Board has reviewed offers from various investors, including the efforts of the current main shareholder to create their own viable concept. However, such a concept has not yet been successfully created.

Endor AG is to be restructured in accordance with the German Act on the Stabilization and Restructuring Framework for Companies (StaRUG) due to imminent insolvency. After completion of the due diligence, the signing of a binding agreement is expected for end of May, which will promptly be filed with the restructuring court in Munich.

As part of the restructuring, CORSAIR will take over Endor AG in full and provide sufficient financial resources to stabilize the company without any external debt. Endor currently holds approximately EUR 70 million of external bank debt.

Part of the restructuring plan includes a partial waiver by the banks and a complete capital reduction, which would lead to current shareholders leaving the company without compensation and to the Endor AG shares delisting from the Open Market. Through the partial waiver, the lenders are making a significant contribution to the continued viability of the company.

Endor will inform the capital markets and the public about the further progress of the process in accordance with legal requirements.

Notifying person:
Matthias Kosch, CFO

End of Inside Information

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Information and Explanation of the Issuer to this announcement:

Contact:
Endor AG, Investor Relations
Phone: [phone]
E-Mail: [e-mail]

Press and investor enquiries:
Jasmin Dentz, GFD Finanzkommunikation
E-Mail: [e-mail]

Peter Herkenhoff, GFD Finanzkommunikation
E-Mail [e-mail]

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08-May-2024 CET/CEST The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

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Language:	English
Company:	Endor AG
	E.ON-Allee 3
	84036 Landshut
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.endor.ag
ISIN:	DE0005491666
WKN:	549166
Listed:	Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart
EQS News ID:	1899185

End of Announcement	EQS News Service

1899185  08-May-2024 CET/CEST