Konsolidator Initiates Share Issuance to Boost Capital
In a significant move today, the Board of Directors of Konsolidator A/S, also known as Konsolidator, has decided to issue new shares through a private placement. This action is expected to yield gross proceeds of up to DKK 2.6 million, as the company strives to secure additional capital to address its financial requirements.
During an extraordinary general meeting, Konsolidator disclosed its intent to enhance capital to mitigate the company's capital loss. The Board has approved an expedited increase in share capital without offering existing shareholders pre-emption rights.
Details of the Private Placement
The approved plan allows the issuance of up to 692,962 new shares at a subscription price set at DKK 3.752 per share. This pricing aligns with the volume-weighted average price over five trading days prior to the board's decision. The anticipated gross income from this share placement is approximately DKK 2.6 million.
Strategic Use of Proceeds
The funds raised from this placement will go towards implementing Konsolidator’s focused growth strategy set for the period of 2025-2027, which has been dubbed Resilient Growth. This plan aims to improve the Annual Recurring Revenue (ARR) while enhancing the EBITDA margin, both crucial for the company's ongoing success.
Moreover, this strategy emphasizes increased sales through partnerships and those vendors who require dependable data, highlighting Konsolidator's commitment to forging strong business relationships.
Share Capital and Trading Information
According to the board's resolution regarding this private placement, the new shares will carry a nominal value of DKK 0.04, contributing to a total of DKK 27,718.48. Upon registration with the Danish Business Authority, the capital will rise by the number of newly issued shares.
Before this capital increase, Konsolidator had a registered share capital amounting to nominal DKK 909,388.00, which will expand to nominal DKK 937,106.48 upon full subscription. Notably, these new shares will represent about 3.05% of the existing share capital prior to the increase and approximately 3% afterward.
Expected Timeline and Trading Admission
Konsolidator aims to finalize subscriptions by no later than December 30, with the subsequent capital increase being registered shortly afterward. A portion of these new shares, specifically 559,700, will adopt the ISIN code of Konsolidator's existing shares, while 133,262 will receive a temporary ISIN code. The latter will not be tradable on Nasdaq First North Growth Market until it merges with the existing ISIN code post-registration.
Trading of the new shares is anticipated to commence by January 6. Notably, this offering is exempt from the usual requirement to publish a prospectus, simplifying the process for investors.
Contact Information
For inquiries, interested parties can reach out to:
- CEO: Claus Finderup Grove, mobile +45 2095 2988, email cfg@konsolidator.com
- CFO: Jack Skov, mobile +45 2282 8845, email @konsolidator.com
About Konsolidator A/S
Konsolidator A/S specializes in financial consolidation software designed to assist Group CFOs globally through automated solutions in the cloud. Founded by financial experts, Konsolidator partners innovation with technology to simplify the financial consolidation process, enabling CFOs to save time and gather critical insights for strategic decision-making. The company made its debut on Nasdaq First North Growth Market Denmark in 2019 and trades under the ticker KONSOL.
Frequently Asked Questions
What is the main reason for Konsolidator issuing new shares?
Konsolidator is issuing new shares to secure additional capital to address its ongoing financial requirements and capital loss.
How many new shares is Konsolidator planning to issue?
Konsolidator plans to issue up to 692,962 new shares in this private placement.
What will the proceeds from the share issuance be used for?
The funds raised will support the company's Resilient Growth strategy, focusing on improving ARR and EBITDA margins.
What is Konsolidator's share capital after the increase?
After issuing the new shares, Konsolidator's share capital will rise to nominal DKK 937,106.48.
When can investors expect to trade the new shares?
The new shares are expected to begin trading no later than January 6.
