(Tiper Stock Exchange) – Deodatus. Gallerya company active in the contemporary art market with a main focus on the street art and pop art segments, has received from Borsa Italiana the provision of admission to trading of its own ordinary shares and warrants denominated on the market Euronext Growth Milan (EGM), the Piazza Affari market dedicated to small and medium-sized enterprises and companies with high growth potential. The start of trading is set for the day January 25th 2023.
The company successfully concluded the placement of its common shares with one total collection equal to approximately 2.2 million euros, against a demand equal to approximately 2.3 times the offer. The private placement, aimed primarily at leading Italian and foreign institutional investors and professional investors, involved 4,299,000 newly issued ordinary shares deriving from a specific capital increase, to a Bid Price equal to 0.50 euro per share. The operation also envisaged the issue of 4,299,000 Warrants (1 Warrant for each ordinary share held).
There capitalization market share of the company after the placement, calculated on the basis of the offer price, is approximately 15.6 million euro, with a floating equal to 13.72%.
“The listing on Euronext Growth Milan for Deodato.Gallery is, on the one hand, the fulfillment of a long company journey oriented towards investment in processes, ICT, transparency and digital marketing strategies, on the other, it is the beginning of a new path through which society can export their own unique business model on an international scale”, commented the CEO and founder Deodatus Salafia.
Founded in 2010, the group is active with i brand Deodato Arte, Wunderkammern Gallery, Deodato.Tech and Love Spot Galleries, operates more than 10 galleries in Italy and Europe, as well as a space in the metaverse. As of December 31, 2021, the group has achieved a Production value equal to approximately 7.1 million euros, with a EBITDA margin by 20.4%, while at 30 June 2022 there was a Value of Production of 5.8 million euros and an EBITDA margin of 24.7%.
“The listing on Euronext Growth Milan has led us to have the financial market in support of our project as an enabling element for more ambitious goals, and will allow us to operate transparently through its governance and control systems,” Salafia added.
As part of the process of admission to trading on Euronext Growth Milan, the company was assisted by Integrae SIM as Euronext Growth Advisor, Global Coordinator and Specialist, by Ambrosiana Advisory as Financial Advisor, by RSM Auditing Company and Accounting Organization as Auditor, Financial due diligence & KID Advisor, by ALMA Company between Lawyers as as Legal Advisor and by Studio Fidanza&Granata Dottori Commercialisti Associati as Tax & Payroll Advisor.