The new eligibility guidelines for the Invest funding programme are out! They apply to applications from 06.02.2023 on and make things easier with respect to convertible loans. They benefit from an acquisition subsidy of 25% of the issue price (nominal value & share premium). The loan agreement must already provide for the conversion which must take place within 24 months from the date of the approval notice. The investment must amount to at least 10.000 €. The further requirements for the acquisition subsidy remain unchanged: the loan agreement may only contain clauses at arm’s length. This applies in particular to the interest rate (10% p.a. max.), the term, the discount (30% max.) and the cap (not lower than the valuation of the last financing round). The acquisition subsidy is only paid out after conversion. Converted interest is not eligible under the acquisition subsidy. The minimum holding period of 3 years only runs from conversion.
You can find further information here.
