DonkeyRepublic Holding A/S carries out a private placement
*Contains inside information*
Company announcement No. 5 – 2024
DonkeyRepublic Holding A/S has successfully completed an oversubscribed private placement of new shares to existing investors at a subscription price of DKK 6.33 per share, raising gross proceeds of DKK 22.4M.
This private placement aligns with the company's strategic goals outlined in the 2023 annual report, where it signaled intentions to explore capital-raising opportunities to bolster B2G growth initiatives through long-term contracts with cities beyond 2024. The newly secured funds are intended to strengthen the company's balance sheet, positioning it to capitalize swiftly on market opportunities that are expected to drive growth in 2025 and beyond.
Today, the Board of Directors of DonkeyRepublic Holding A/S ("the Company") has resolved to execute a private placement ("the Private Placement") of new shares to existing investors, issuing 3,535,725 new shares with a nominal value of DKK 0.10 each ("the New Shares"), against a cash contribution, thereby raising gross proceeds of DKK 22.4M. The subscription price for the New Shares is DKK 6.33 each, reflecting the average trading price during the last 30 trading days until April 4, 2024.
The private placement of new shares was oversubscribed due to solid interest from investors, primarily led by investors within the Company’s existing shareholder base, which includes shareholders who participated in previous rounds, that being CDM Holding, Bladt Invest, EIFO and Spintop Investment Partners along with Bankinvest, an institutional investor participating in this private placement.
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 15 April 2024.
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 15 April 2024.
Subject to completion of the Private Placement the share capital of the Company will be nominally DKK 2,423,700.10 of nominally DKK 0.10 each. Each share carries one vote.
