(CercleFinance.com) – Waga Energy announces the success of its capital increase with elimination of shareholders’ preferential subscription rights reserved for categories of beneficiaries through the issue of 3,939,394 new shares at a price of 13.20 euros per Share New.
The gross proceeds of the Offering amount to 52 million euros, and the net proceeds to approximately 50.2 million euros. 3,939,394 New Shares will be issued, representing approximately 19.2% of the existing share capital of the Company.
Settlement and delivery of the Offer is expected to take place on March 25, 2024, subject to customary conditions.
Waga Energy is experiencing a significant acceleration in its growth, particularly in North America, and intends to use the net proceeds of the Offer to finance the equity portion of investments (capex) of new projects as well as the prefabrication and manufacturing of WAGABOX© units in order to support its international growth.
With the net proceeds of the Offering, as well as other non-dilutive sources of financing, including corporate debt, the Company plans to finance the investments (capex) necessary to achieve its turnover target of €200 million. euros in 2026.
Mathieu Lefebvre, Chairman and CEO of Waga Energy, declares: ‘I warmly thank all the investors who participated in the capital increase of Waga Energy, and in particular our historic shareholders (Noria, ALIAD, Starquest, Tertium and VOL -V), CMA-CGM, who joined us at the time of the IPO as well as Enowe and all the new investors who are joining us today. We have demonstrated in recent months our operational excellence and our ability to execute our roadmap, by starting our first production units in Spain, Canada and most recently in the United States.
‘This capital will make it possible to finance new production units, particularly in the United States, a strategic market on which we have recorded numerous commercial successes in recent months.’
Copyright © 2024 CercleFinance.com. All rights reserved.
Did you like this article ? Share it with your friends using the buttons below.
