- Operation oversubscribed with €36.8m of demand, 5.4 times the initial offer
- Strong support from existing shareholders, with 95% of preferential subscription rights exercised
- Extension clause exercised
Regulatory News:
Lumibird (Paris:LBIRD), the European leader for laser technologies, is today announcing the success of its cash-based capital increase with preferential subscription rights maintained for €7,828,812.
During its meeting on December 13, 2018, Lumibird's Board of Directors acknowledged the completion of the capital increase with shareholders' preferential subscription rights maintained, following the subscription period that ran from November 29, 2018 to December 10, 2018.
Total demand for subscriptions came to 4,084,373 shares, representing €36,759,357, equivalent to 5.4 times the initial offer.
Faced with the strong demand expressed, Lumibird's Board of Directors decided to exercise the extension clause in full, with a further 113,461 new shares issued in addition to the 756,407 initially planned.
869,868 shares were issued at a price of €9 per share, giving a gross total of €7,828,812 for the capital increase.
718,180 new shares were subscribed for not subject to allocation, representing 94.9% of the new shares to be issued initially. Subscription requests subject to allocation concerned 3,356,977 shares: they will be fulfilled based on 151,688 new shares. The free subscription requests, representing 9,216 shares, will not be fulfilled.
Following this operation, Lumibird's share capital will be increased from €15,884,557 to €16,754,425, split into 16,754,425 shares with a par value of €1.
The funds raised will primarily make it possible to contribute towards financing potential external growth operations1, notably with a view to acquiring new laser technologies. If external growth projects are not carried out, the Group will use all or part of the net proceeds from the capital increase for internal investments in research and development projects.
Marc Le Flohic, Lumibird Group Chairman and CEO: "I would like to thank Lumibird's shareholders for having subscribed for this capital increase on a massive scale, highlighting their confidence in the Group's strategy and the outlook for its development. Thanks to this operation's success, we are further strengthening our financial resources and giving ourselves the means needed to take a further step forward with our development. This will involve integrating new technologies, through external growth or investment in new R&D projects"
The new shares' settlement-delivery and admission for trading on the regulated market Euronext Paris are scheduled for December 17, 2018. The new shares will be entitled to dividends from delivery and will be traded under the same listing as the existing shares (ISIN: FR0000038242). They will be assimilated with and give the same rights as the existing shares from their issue.
LUMIBIRD is one of the world's leading specialists in lasers. With 50 years of experience and a mastering of solid state laser, laser diodes and fiber laser technologies, the Group designs, manufactures and markets high performance lasers for scientific (laboratories and universities), industrial (manufacturing, defense, Lidar sensors) and medical (ophthalmology) markets.
Born from the combination of Keopsys Group with Quantel in October 2017, LUMIBIRD has more than 400 employees and over €85 million of revenues (pro forma 2017) and is present in Europe, America and Asia.
LUMIBIRD shares are listed on the Euronext Paris C Compartment. FR0000038242 LBIRD www.lumibird.com
1 To date, the Company is not committed to any external growth projects that are underway.
View source version on businesswire.com: https://www.businesswire.com/news/home/20181213005568/en/
Contacts:
LUMIBIRD
Marc Le Flohic
Chairman and CEO
Tel. +33(0) 1 69 29 17 00
info@lumibird.com
LUMIBIRD
Pierre Vallalta
Chief Financial Officer
Tel. +33(0) 1 69 29 17 00
info@lumibird.com
Calyptus
Mathieu Calleux
Investor Relations
Tel. +33(1) 53 65 37 91
lumibird@calyptus.net
Midcap Partners
Kevin Rolland
Company advisor
Tel. +33 (0)1 55 04 04 56
contact@midcapp.com