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04/30/2021 — #biohybrid #timeline #investors

Bio‑Hybrid continues negotiations with potential investors

Bio‑Hybrid continues negotiations with potential investors

As you may have already heard, Bio‑Hybrid GmbH filed a petition for insolvency on its own behalf last week. The most important thing in advance: Business operations will continue seamlessly within the scope of the insolvency petition proceedings. The contact persons remain the same. This means that all employees will continue working on our common goal of completing the development of the Bio‑Hybrid and bringing the innovative pedelec to market.

Search for investors continues under insolvency law protection.

In order to finance series production, we have been in negotiations with numerous investors in recent months, many of whom have indicated their interest in investing in our company. However, due to the COVID 19-related restrictions, the final discussions have been delayed. These discussions with potential investors will now be continued and intensified in the context of the insolvency application process. We aim to conclude the negotiations and the restructuring already initiated by the beginning of July. We are being supported in this by the restructuring expert Dr. Hubert Ampferl from the law firm Dr. Beck und Partner, who was appointed by the Nuremberg insolvency court.

Pre-ordering of Bio‑Hybrid still possible.

The Bio‑Hybrid is still to be launched on the market. Thus, it can still be ordered with a down payment of 490 euros. Customers will incur no risk because the down payment will be returned to them in the event that no delivery is made.

Postponement of timeline.

Due to the current situation, we will certainly also have to adjust our delivery schedule of the vehicles - even in the case of a successful completion of the restructuring. As soon as there is a new, binding timeline, we will inform you immediately.

The development of the Bio‑Hybrid is and remains an affair of the heart. Our team is still working with full commitment to get the Bio‑Hybrid on the road. We pedal on!

Thank you for your trust.

 

We pedal on