(Finance) – EdgeLaban innovative SME, operating in La Spezia, specialized in the design and development of autonomous underwater vehicles (AUV) and advanced marine technologies, with a focus on scientific research, underwater archaeology, defense and security, received the provision today from the Italian Stock Exchange of admission to trading of its ordinary shares on the Euronext Growth Milan market, a multilateral trading system organized and managed by Borsa Italiana.
There start date of trading is set for Monday 30 December 2024.
Michele Cocco, CEO and President of EdgeLabdeclares: “EdgeLab’s listing on the stock exchange represents a transition important for our growth path and for the development of the advanced submarine technologies sector. This milestone confirms the value of our commitment and capabilities, marking the beginning of a new phase for our Company. The listing will allow us to strengthen our global presencedevelop small pilot series production of small AUVs, and expand after-sales assistance. We are convinced that this step will allow us to strengthen our brand, consolidate our leading position in the market and continue to create value for our stakeholders.”
Placement
The operation saw the participation of primary institutional investors and a foreign industrial anchor investor (Bharat Forge Limited, through its subsidiary Kalyani Strategic Systems Limited, Pune (India)) who appreciated the market positioning, the quality of the business, the track record and credibility of EdgeLab’s management, distinctive elements and competitive advantages that emerged during the roadshow, organized by Integrae SIM as Global Coordinator.
Through the IPO operation, entirely in the form of a capital increase, the overall value of the resources raised is approximately Euro 3.5 million. The placement, aimed mainly at primary institutional investors, at the price of Euro 3.25 per ordinary share, involved n. 1,076,500 ordinary shares.
At the outcome of thecapital increaseat the start of trading, the share capital of EdgeLab amounts to Euro 76,912.50 and is made up of a total of no. 3,076,500 shares, without indication of the nominal value, of which n. 2,876,500 ordinary shares (ISIN IT0005627762) and no. 200,000 multiple voting shares, the latter not subject to offer or admission to trading, entirely held by Planasia Holding Srl, which attribute no. 5 votes per share in the ordinary and extraordinary meetings of the Company and are convertible into ordinary shares in the ratio of no. 1 ordinary share for every n. 1 multiple voting share according to the conversion mechanisms provided for in the Company’s Articles of Association.
The post-placement market capitalization of the Company at the start of trading, calculated on the basis of the offer price and exclusively on the number of ordinary shares admitted to trading, is equal to approximately Euro 9.3 million, with a free float equal to 10.69%.