Creotech Instruments S.A. (“the Company”, “Creotech”), listed on the Warsaw Stock Exchange and Poland’s largest space mission integrator as well as the country’s largest manufacturer of satellites, satellite systems and satellite components, has successfully completed an accelerated bookbuilding process (ABB) covering 650,000 series M ordinary bearer shares at an issue price of PLN 740 per share (“the Transaction”). The number of shares offered will correspond to approximately 19% of the Company’s share capital after registration of the capital increase in the National Court Register. The total value of the Transaction amounted to PLN 481 million, or approximately EUR 113.5 million. The funds raised are intended to support the implementation of the Company’s growth strategy, in particular in the areas of expanding production capacity, developing new satellite platforms, technological investments, and potential acquisitions and strategic partnerships.
“We have successfully completed the accelerated bookbuilding process, which attracted strong interest from investors, including foreign investors. This allowed us to achieve one of the Company’s strategic objectives, namely increasing the share of international funds in our shareholder base. The high level of oversubscription and the issue price achieved reflect the market’s confidence in the Company’s long-term development strategy and its growth potential. The funds raised will strengthen our ability to participate in key European space programmes, such as IRIS² and European Space Agency missions, as well as enable strategic acquisitions and partnerships and further international expansion, significantly accelerating the scaling of the Company’s operations,” said Dr Grzegorz Brona, President of the Management Board of Creotech Instruments S.A.
The Company was supported in the process by cc group as investor relations and financial adviser. UniCredit Bank GmbH, Milan Branch, acted as Lead Global Coordinator in cooperation with Kepler Cheuvreux. J.P. Morgan SE, Trigon Dom Maklerski S.A. and Trigon Investment Banking Sp. z o.o. & Wspólnicy sp.k. acted as Joint Global Coordinators. BM PKO BP acted as Joint Bookrunner.
In connection with the Transaction, the Company has undertaken, subject to standard exceptions, not to issue, sell or offer shares without the consent of the Lead Global Coordinator and the Joint Global Coordinators for a period of 180 days from the date on which the price was determined under the Transaction. This undertaking does not restrict the possibility of issuing shares or other securities carrying the right to subscribe for shares as part of remuneration in connection with mergers, acquisitions, joint ventures or other similar transactions consistent with the Company’s strategy.
The Company will take the necessary steps related to making the required filings and providing relevant information in accordance with applicable law.
Disclaimer: The information contained in this publication is provided for informational purposes only. It does not constitute financial advice or any other form of advice, is general in nature and is not addressed to any specific recipient. Before using this information for any purpose, independent advice should be sought.
Source: ceo.com.pl
