Invibes successfully raised capital

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Martin Signer activities: Managing Director, IR, test, Testing, Testing, Participant, Partner, Media partner, Media partner, Event manager, Events, Tester, Event listing, Tester, IR, IR, Test, Managing Director, IR, IR, IR, IR Partner

Mar 18, 2020

INVIBES ADVERTISING announces success of second tranche of €2.5m capital increase

 

• Private placement of €1.5m issued to GENERIS CAPITAL PARTNERS in addition to first tranche of €1.0m raised in October 2019

 

• Weighted average unit price of €8.00 per share, implying a 40% premium on the most recent share price

 

London, 18 March, 2020 - INVIBES ADVERTISING, a tech firm specialising in digital advertising, today announced the success of the second tranche of its €2.5m capital increase reserved for the investment funds managed by GENERIS CAPITAL PARTNERS.

 

The capital increase was issued, without pre-emptive subscription rights, under a private placement to which GENERIS CAPITAL PARTNERS fully subscribed. It consisted of two tranches and a top-up placement:

 

- a first tranche, in the amount of €1.0m including the issue premium, was completed in November 2019, resulting in the issue of 181,818 new ordinary shares without pre-emptive subscription rights, priced at €5.50 per share;

 

- a second tranche, in the amount of €1.0m including the issue premium, was completed on 16 March 2020. The transaction was contingent upon revenue and EBITDA targets for 2019 which were effectively met, resulting in the issue of 68,166 new shares, without pre-emptive subscription rights, at a unit price of €14.67;

 

- a top-up placement of €500k, including the issue premium, was agreed by the parties, resulting in the issue of 62,488 new shares, without pre-emptive subscription rights, at a price of €8.00 per share, which is the weighted average unit price per share of the first two tranches.

 

Overall, the capital increase raised a total of €2.5m, including the issue premium, and resulted in the issue of 312,472 new shares at an average weighted price of €8.00 per share. 


Articles authored by Martin Signer

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