(Finance) – The extraordinary shareholders’ meeting of Cube Labs has approved a share capital increase, in cash and payment, in a divisible manner, with option right, for a maximum of Euro 5,000,000.00 including share premium, to be carried out no later than 31 December 2025, through the issue of new shares ordinary with regular enjoyment, without expressed nominal value and having the same characteristics as those already in circulation at the date of issue.
The Capital Increase is offered as an option to Cube Labs shareholders, based on the exchange ratio that will be defined by the Board of Directors.
The Extraordinary Assembly conferred on Board of Directors any broader power to define the terms of the Capital Increase, including: the timing of the various phases of the Capital Increase, including the Option Offer, in compliance with the applicable legal provisions and the final deadline established by the Shareholders’ Meeting of the Shareholders; the definitive amount of the Capital Increase, within the limits of the maximum value of Euro 5,000,000.00 (including share premium); the option ratio and, consequently, the maximum number of newly issued shares to be issued in the context of the Capital Increase; the subscription price of each of the newly issued shares, which will in any case be equal to or greater than Euro 2.20 (including premium).
The management of the Company, explains a note, believes that this minimum price, which reflects a 10% premium compared to the initial listing price of the shares (equal to Euro 2.00), can best reflect the real current value of the stock . Furthermore, this minimum price is aligned with the conversion price of the Cube Labs 2023-2025 warrants of the next exercise window, pursuant to the provisions of the relevant regulation.
The shares resulting from the Capital Increase will be ordinary shares of Cube Labs and will be admitted to listing on the Euronext Growth Milan – Professional segment, like the ordinary shares of the Company currently in circulation.