Stronger equity base creates scope for future investments
euromicron AG, a medium-sized technology group and expert on the digital networking of business and production processes, has now fully placed the capital increase it resolved on July 10, 2019.
As part of a cash capital increase with subscription rights, the second tranche increased the company’s share capital by EUR 5,504,266.28 by issuing 2,152,919 new registered shares. In the first tranche, 717,639 new shares were issued to Funkwerk AG in July 2019 as part of a private placement. As a result, euromicron’s share capital initially increased by 10% to EUR 20,182,308.60. Overall, euromicron AG generated gross issue proceeds of EUR 9,759,897.20 with the two tranches of the capital increase.
“We have reached an important milestone in our strategy by successfully completing the capital increase. With Funkwerk, we have not only added a strong and reliable investor to our shareholder base, but have also considerably strengthened our equity base and gained financial strength. At the same time, we will use the proceeds from the capital increase to invest in future-oriented fields and to expand our digital business models. We see attractive growth opportunities for the euromicron Group there,” explained Bettina Meyer, Spokeswoman of the Executive Board.
The shareholders of euromicron AG exercised their subscription rights for a total of 1,539,385 new shares at a subscription price of EUR 3.40 per share. The subscription ratio for the acquisition of a total of 2,152,919 new shares is thus around 72%. The new shares not subscribed to by the shareholders were offered in accordance with Funkwerk AG’s investor and backstop agreement and subscribed to by Funkwerk AG on August 12, 2019. As part of the capital increase, Funkwerk acquired a total of 1,543,256 shares in two tranches, corresponding to 15.36% of the share capital.
“The high subscription rate reflects the strong confidence our shareholders have in us and gives us an additional incentive to continue on our strategic course. At the same time, we are pleased to have a strategic partner at our side in Funkwerk AG, who has supported the capital measures that have been implemented. At the operational level, we will intensify our current relationship that already exists in certain areas and jointly develop potential in related business fields,” said Meyer.
Once the capital increase has been entered in the commercial register, the new shares from the second tranche will be admitted to trading on the Frankfurt Stock Exchange within the statutory one-year period and be included in the current listing.