Romanian tech company AROBS aims to raise up to EUR 32.5 mln in share capital increase to finance international expansion

AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, announces the publication of the prospectus regarding the share capital increase. The group will offer a maximum of 174,258,721 new shares to investors aiming to raise up to EUR 32.5 million. The operation starts on June 3, 2024.

“At AROBS, we aim to build a future where technology is the engine of progress and innovation. This capital increase represents a key step in our growth strategy, which targets continuing our geographic expansion and consolidating our product and service portfolio. Through the capital raised in this operation, we will accelerate the acquisition process of companies with strong synergies, which will complement our vision and support us in our mission to transform the activity of local and global companies in various industries through technology. We are thrilled about the opportunities opened up by this capital increase, and we aim to bring international financial institutions, as well as pension funds and local fund managers, into the group's shareholding. These investors bring valuable expertise and a long-term perspective, which are essential for a rapidly expanding technology company, attributes that complement the substantial financial resources raised by the company. We believe their presence in AROBS's shareholding will significantly contribute to achieving our ambitious goals and creating a solid foundation for the future", stated Voicu Oprean, founder and CEO of AROBS.

The share capital increase will take place in two stages. The first stage, which will take place between June 3, 2024, and July 4, 2024, will involve the exercise of preference rights by their holders. The preference rights will not be traded on the Bucharest Stock Exchange. Therefore, investors can choose to subscribe based on preference rights or not to carry out any transaction. To subscribe for 1 new AROBS share, investors need 5 preference rights.

Investors who hold preference rights and participate in the first stage of the share capital increase will subscribe exclusively at the price of RON 0.93 per share. However, this does not mean that the final subscription price for these investors will be RON 0.93. The final price will be determined after the second stage of the share capital increase, the private placement, which will be addressed to local and international institutional investors. The private placement will commence on July 8, 2024, and is expected to be completed on or around July 10, 2024. Following the closing of the private placement, the company will inform the market about the final price at which the shares will be offered to investors.