(Finance) – YOLO Groupone of the main operators in the Italian insurtech market of digital insurance services, has received from Borsa Italiana the provision of admission to trading of its own ordinary shares and convertible bonds on Euronext Growth Milan – Professional segment. The trading start date of the ordinary shares and convertible bonds is set for August 5, 2022.
YOLO has successfully concluded the placement, aimed at qualified Italian and foreign institutional investors, of its own actions with a total funding of 10 million euros, of which € 497,640 deriving from the possible exercise of the greenshoe option, in a capital increase, granted to the Joint Global Coordinators. YOLO has also successfully completed the placement of bonds convertible for a total amount of € 2,996,300 expiring August 5, 2025.
“The positive outcome of the placement is an important milestone: it testifies to the appreciation of investors and the market for our business model and its high growth potential in the context of the transformations taking place in the insurance sector”, he declared. Gianluca de Cobellico-founder and CEO of YOLO.
The placement price of the ordinary shares was set at € 3.77 per share (at the lower limit of the range previously communicated between a minimum of € 3.77 and a maximum of € 4.10 per share). Following the placement of the ordinary shares, the capital is made up of 8,617,300 ordinary shares with no par value. There capitalization post placement is equal to 33 million euros, assuming the full exercise of the greenshoe option, with a floating equal to approximately 23.68% of the share capital in the event of full exercise of the greenshoe option.
Generali Italy is the largest shareholder with 15.17% of the shares, followed by Neva SGR (group Intesa Sanpaolo) with 14.33% and Primo Ventures SGR with 11.05%. Simone Ranucci Brandimarte owns 8.64%, as does Gianluca De Cobelli. The shares of Net Insurance (4.89%) and CRIF (2.98%).
The collection made it possible to exceed the minimum free float requirement pursuant to the Euronext Growth Milan Regulation, thus allowing the possibility of being able to carry out the transition to the ordinary segment of Euronext Growth Milan in a short timeunderlines a note.
In the listing process YOLO is assisted by EnVent Capital Markets (Euronext Growth Advisor, Joint Global Coordinator and Joint Bookrunner), BPER Bank Corporate & Investment Banking (Joint Global Coordinator and Joint Bookrunner), ADVANT Nctm (Legal Advisor of YOLO), Deloitte & Touche (Auditing Firm), One factory (Financial Advisor), Studio Legale Associato Shearman & Sterling (Legal Advisor of the Joint Global Coordinators and Joint Bookrunners), Studio Franzoia Piona (Tax Consultant), Epyon Audit (Auditor for non-accounting data) and Twister (Advisor for Communication).
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