EQS-Adhoc: tubesolar AG: tubesolar AG: Application for the opening of insolvency proceedings

tubesolar AG: Application for the opening of insolvency proceedings

Augsburg, June 21, 2023 The convertible bond 2023/2027 (ISIN DE000A351U72) offered by tubesolar AG (ISIN DE000A2PXQD4) could only be placed in the amount of EUR 127,145.00. This is not sufficient to cover the short-term financial needs of the company and to avert the insolvency of the company. The Executive Board of tubesolar AG has therefore decided today to file an application for the opening of insolvency proceedings for tubesolar AG with the competent insolvency court by the end of next week due to insolvency.

About tubesolar AG:

tubesolar AG has taken over the laboratory production of OSRAM/LEDVANCE in Augsburg as a spin-off and acquired the patents from LEDVANCE and Dr. Vesselinka Petrova-Koch. tubesolar AG has been using this patent-protected technology since 2019 to develop and manufacture photovoltaic thin-film tubes that are joined together to form modules and whose properties enable additional application opportunities in solar power generation compared to conventional solar modules. The technology will be used in the agricultural sector, among others, and will span agricultural production areas. The modules are also to be used on industrial and commercial roofs. In the next few years, it is planned to expand production in Augsburg to an annual production capacity of 250 MW.

Contact:

^{Investor Relations:
Quadriga Communication GmbH | Kent Gaertner
gaertner@quadriga-communication.de}