DonkeyRepublic Holding A/S carries out a private placement
*Contains inside information
Company announcement no. 09 – 2023
DonkeyRepublic Holding A/S carries out a private placement of new shares at a subscription price of DKK 5.73 per share, raising gross proceeds of DKK 11.6M.
Reference is made to the company announcements no. 04-2023 and 08-2023, where DonkeyRepublic announced its intention to carry out a private placement to secure further funding for the execution of the revised growth strategy.
Today the Board of Directors of DonkeyRepublic Holding A/S (the “Company”) resolved to carry out a private placement (the "Private Placement") of new shares to a small group of existing investors and issue 2,021,349 new shares of nominally DKK 0.10 each (the "New Shares") against cash contribution, raising gross proceeds of DKK 11,582,330.
The subscription price for the New Shares is DKK 5.73 each, which corresponds to the last 5 days’ average trading price.
The private placement of New Shares is subscribed for by three of the Company’s current main investors Denmark’s Export and Investment Fund (previously the Danish Growth Foundation), Spintop Investment Partners III AB and CDM Holding 2016 ApS; NH Holding II ApS (controlled by DonkRepublic’s CEO Niels Henrik Rasmussen) and a private investor.
The gross proceeds obtained in the Private Placement is the first step to ensure the previously announced need for financing of the revised growth strategy as communicated in company announcement No. 8-2023.
The share capital increase pertaining to the Private Placement is carried out without pre-emptive rights for the Company’s existing shareholders in accordance with the authorization granted to the Board of Directors and set out in article 4.3 of the Company’s articles of association.
The New Shares will, upon issuance and registration with the Danish Business Authority and admission to trading on Nasdaq First North Growth Market Denmark, rank pari passu with the Company’s existing shares and carry the same rights as the existing shares.
The share capital increase related to the Private Placement is expected to be registered with the Danish Business Authority on or around 21 April 2023.
The New Shares will upon registration of the capital increase be issued through VP Securities in the permanent ISIN of the Company’s existing shares DK0061540770.
The New Shares are sought admitted to trading on Nasdaq First North Growth Market Denmark in the permanent ISIN of the Company’s existing shares as soon as possible after registration of the capital increase with the Danish Business Authority, expectedly on or around 27 April 2023.
Subject to completion of the Private Placement the share capital of the Company will be nominally DKK 1,748,648.50 divided into shares of nominally DKK 0.10 each.
