(Finance) – Erfoa Tuscan company operating in the nutraceutical sector, has successfully concluded the placement that will lead it, from 29 June 2022, to be listed on Euronext Growth Milan (EGM), the Piazza Affari market dedicated to SMEs with high growth potential, and has received admission to trading. The IPO generated an overall demand, received from leading Italian and foreign qualified / institutional investors, equal to approximately 4 times the quantity offered of new shares. The Bid Price it is equal to 1.5 euros per share, exactly in the middle of the previously announced range (1.4-1.6 euros). The total value of deposits was 3.5 million euros.
Admission took place following the placement of 2,300,000 ordinary shares of which: 2,000,000 ordinary shares of new emission arising from a capital increase; 300,000 ordinary shares for sale resulting from the exercise ofover-allotment optiongranted to the Global Coordinator illimity Bank by Active Capital Investment (for which a greenshoe option of the same amount was also granted by Active Capital Investment). The post-offer capital will consist of 9,000,000 shares. The floating will be equal to 22.22% of the share capital (25.56% if the Greenshoe option is fully exercised).
In the context of the listing operation, i Erfo 2022-2025 Warrants, assigned free of charge, in the ratio of no. 1 Warrant for every n. 2 shares, in favor of all those who have subscribed the shares as part of the private placement, as well as those who have been assigned the shares following the exercise of any Over Allotment Option. The holders of Warrants may request to subscribe the conversion shares in the amount of no. 1 conversion shares for every n. 1 Warrant owned. Starting from the first day of listing, a total of 1,150,000 warrants will be negotiated with strike price of € 2.55 in the first conversion window.
Erfo was assisted by illimity Bank as Euronext Growth Advisor & Global Coordinator. ADVANT Nctm acted as Legal Advisor, BDO Italia as Independent Auditors and Tax Advisor, MIT SIM as Specialist, WINGMEN as Strategic Advisor for the listing in support of the EGA and IR Top Consulting as Financial Communication Manager.
(Photo: © Alessandro Landi | 123RF)