16 Juni 2020

Alfen N.V. successfully completes capital increase with gross proceeds of approximately €51 million

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  • Alfen N.V. (“Alfen” or the “Company”) announces that due to strong investor demand it has decided to increase its earlier announced Offering from up to 1,500,000 new ordinary shares (the “New Shares”) to a total of 1,750,000 new ordinary shares, representing 8.75% of the Company’s issued share capital (the “Offering”).

  • The 1,750,000 New Shares have been successfully placed at a price of €29 per New Share, resulting in gross proceeds for the Company of approximately €51 million, which will be used to further strengthen its leading position as a provider of energy solutions in the field of electric vehicle charging, energy storage and smart grid solutions.

  • Joh. Berenberg, Gossler & Co. KG (“Berenberg”) acted as Sole Global Coordinator and Sole Bookrunner in the Offering.

Alfen N.V. has successfully completed its capital increase announced yesterday. Due to strong investor demand, it has decided to increase the Offering to a total of 1,750,000 New Shares, representing 8.75% of the Company’s issued share capital. The New Shares were placed at a price of €29 per New Share. Gross proceeds from the Offering amount to approximately €51 million and will be used to further strengthen the Company’s leading position as a provider of energy solutions in the field of electric vehicle charging, energy storage and smart grid solutions.

The additional funds will allow the Company to fund investments and net working capital in conjunction with the build-up of its capacity, stronger market penetration in an increasing number of geographies and research & development for further innovation. The proceeds will also provide Alfen with sufficient financial flexibility to seize potential investment opportunities to further support its growth strategy.

The successful issuance underlines the Company’s positive momentum and the attractive growth opportunities in Alfen’s core markets.

Following the issuance of 1,750,000 New Shares, the total number of issued shares of Alfen will increase to 21,750,000 on settlement of the Offering. The New Shares will rank pari passu in all respects with the existing shares of the Company with the ISIN NL0012817175.

Admission to listing and trading of the New Shares on Euronext Amsterdam is expected to take place on 19 June 2020. Delivery of the New Shares is envisaged for 19 June 2020.

Alfen agreed to a 90 days lock-up period following the transaction, subject to customary exceptions.

Berenberg acted as Sole Global Coordinator and Sole Bookrunner in the Offering.