AROBS closes the largest capital increase for a technology company listed on the BVB, raising EUR 28.7 mln

AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, announces the successful completion of its capital increase operation on July 10, 2024, through which it raised 28.7 million euros. The process consisted of two stages - the first, in which existing shareholders subscribed on the basis of preference rights, and the second, in which new local and international institutional investors subscribed in a private placement. The final price per share for both stages was set at 0.82 lei.

“We are delighted with the success of this capital increase, which allows us to continue our ambitious growth strategy through M&A and international expansion. The high interest from institutional investors demonstrates their confidence in our vision and ability to develop and strengthen AROBS' position in global markets. The sector in which we operate, IT&C, is playing a crucial role in the transformation and modernization of industries globally and I firmly believe that AROBS is well-positioned to be part of this change. As such, the funds raised will help further our investment in research and development, through which we aim to bring to market innovative solutions that improve efficiency and drive business growth. Our teams are geared up to capitalize on the opportunities offered by new emerging technologies, as well as through the strategic partnerships we are considering globally. We are confident that, through our vision and with the support of investors, we will continue to grow and innovate, bringing added value", stated Voicu Oprean, founder and CEO of AROBS.

Due to significant interest from institutional investors in the private placement, the offer was supplemented with existing shares. Thus, during the offering, a total of 174,258,721 new shares were sold, together with 56,546,000 existing shares offered for sale by the majority shareholder, Voicu Oprean, directly and through Cabrio Investments. This supplementation of the offering with existing shares was also made in order to increase the free float of the company.

The AROBS capital increase attracted 8 local and international institutional investors, who subscribed to more than 96% of the shares offered in the transaction. Thus, the operation being finalized today is the largest capital increase for a public company in the IT sector and the first capital increase of a company in this industry where institutional investors subscribed a significant majority of the capital. Following this transaction, Voicu Oprean holds 50.6329% of the company's share capital.

The raised capital will support the continuation of AROBS' growth strategy through acquisitions and organic growth. Thus, the amounts raised in the capital increase, together with other potential sources of financing, will be used to develop and consolidate the group.