Alfen N.V. announces the issuance and placement of up to 1,500,000 new ordinary shares via an accelerated book building offering
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Equity offering by way of an accelerated bookbuild for up to 1,500,000 new ordinary shares, i.e. up to 7.5% of the Company’s issued share capital.
The Company intends to raise additional funds in order 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”) is acting as Sole Global Coordinator and Sole Bookrunner in the Offering.
Today, Alfen N.V. (“Alfen” or the “Company”) announced the launch of an issuance of up to 1,500,000 new ordinary shares (the “New Shares”), representing up to 7.5% of the Company’s issued share capital, to qualified investors by means of an accelerated bookbuilding process (the “Offering”).
The proposed Offering will be executed by way of a private placement of the New Shares with exclusion of pre-emption rights. The New Shares will be issued by the Company’s management board, with the approval of the supervisory board, under the existing designation of the management board by the general meeting of the Company to issue shares and to exclude pre-emptive rights of existing shareholders in relation thereto. The bookbuilding process will commence with immediate effect. The order book is expected to close on 16 June 2020 prior to the start of trading, although the Company reserves the right to close the order book at any earlier time.
The expected net proceeds from the offering will be used to further strengthen Alfen’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 New Shares will be offered exclusively to qualified investors in the European Economic Area ("EEA"), Switzerland and the United Kingdom. The New Shares will only be offered and sold outside the United States in accordance with Regulation S under the US Securities Act of 1933, as amended. The offer price of the New Shares (the “Offer Price”) will be determined following an accelerated bookbuild and will be announced upon completion of the bookbuilding process.
The final number of New Shares and the final Offer Price will be announced by the Company as soon as possible after closing of the bookbuilding in a press release which is expected to be published before market open on 16 June 2020, subject to acceleration. Admission to listing and trading of the New Shares (on an “as-if-and-when-issued basis”) on Euronext Amsterdam is expected to take place on 19 June 2020. Delivery of the New Shares is envisaged for 19 June 2020 (the “Closing Date”). The New Shares will rank pari passu in all respects with the existing shares of the Company with the ISIN NL0012817175.
Alfen agreed to a 90 days lock-up period following the transaction, subject to customary exceptions.
No prospectus is required and no such prospectus or similar document will be published in connection with the Offering.
Berenberg is acting as Sole Global Coordinator and Sole Bookrunner in the Offering.