Raize announces capital increase

Raize, a payment platform, announced this Wednesday a Tier 1 capital increase of €1.5 million, through a capital increase proposal that will be presented at a general meeting on March 23.

According to several statements published by the Securities Market Commission (CMVM), the company and its shareholder Flexdeal indicated that the “qualified shareholding increase” includes a “total amount of Tier 1 capital reinforcement” of €1,500,000, including a capital increase through new cash contributions.

The amount of the increase in share capital is €205,357.11, rising from the current €575,000.00 to €780,357.11, corresponding to the issuance of up to 1,785,714 ordinary registered shares, with a nominal value of €0.115 each. The subscription price is €0.84 per share, which corresponds to the weighted average price of the last six months on the Euronext Access multilateral trading system.

The capital increase is “carried out through a private offering directed to the company’s current shareholders holding voting rights equal to or greater than 2% of the company’s share capital” with a premium, i.e., the difference between the nominal value and the subscription value, of up to €1,294,642.89.

“Raize has been informed that the shareholder Flexdeal – SIMFE, S.A. undertakes a firm commitment to subscribe, on a pro-rata basis and up to the maximum amount of the increase to be approved, to the entirety of the issued capital that is not subscribed by the shareholders entitled to subscribe to the increase,” the group said. According to Raize, the capital increase is conditional upon “no objection from the Bank of Portugal.”

Source: CMVM/ECO Online: Image: Raize