Izertis concludes its capital increase with a significant excess demand

Our company has concluded the capital increase approved by its Board of Directors on 18 November 2020 with a significant excess demand, while, at the same time, Axesor Rating has given it a BB credit rating, with a stable trend. The capital increase was carried out by creating 1.02 million shares at a price of 4.88 euros per share, which constituted an effective total of 5 million euros.

99% of the increase was covered by the exercise of preferential subscription rights. In the discretionary phase, a total of 79 orders coming to 3.52 million euros were received, “which confirms the great interest on the market for Izertis’ business model and strategic plan.”

Due to the elevated excess demand received, Izertis’ reference shareholder placed a small quantity of shares (409,044) privately at the same individual price of 4.88 euros, in order to allow institutional and private investors who could not take part in the discretionary phase to acquire shares, thus increasing the company’s shareholder base.

Moreover, the transmission of the call option, which Izertis held on 784,300 shares, was completed successfully, resulting in extraordinary income of almost 2.3 million euros. This transaction has enabled 63 new investors to acquire shares, and they have made a total investment of more than 3.5 million euros between the purchase of the call option and its implementation.

An excellent credit rating

Furthermore, Axesor Rating has attested to Izertis’s financial solidity by granting it a BB credit rating with stable trend; this is an excellent rating that will make it easier for the company to finance its strategy for future growth.

This rating is the first step to opening the market for bonds and notes, which will begin next January with a short-term note program on the Alternative Market for Fixed-Income Securities, (MARF), which will enable Izertis to draw on a new source of funding to support the growth planned for the coming years.