The Paris Capital Markets department of Fieldfisher has once again acted as legal counsel to MUNIC, a specialist in embedded technologies and artificial intelligence for the valorisation of automotive data, in connection with its €3.5 million capital increase, carried out with cancellation of the preferential subscription right within the framework of an offer referred to in 1° of article L.411-2 of the French Monetary and Financial Code via an accelerated book-building.
With the support of French and European investors, MUNIC issued 1,102,625 new shares at a unit price of €3.20 including issue premium, i.e. €0.04 par value and €3.16 issue premium, for a total gross amount of €3,528,400, representing 12.29% of the outstanding MUNIC shares after the capital increase. It amounts to a discount of 8.4% compared to the weighted average of the MUNIC share price over the last five trading days prior to its determination.
The net proceeds of this fundraising will be used to strengthen MUNIC's equity and financial resources. It will provide the company with additional resources to finance the sustained growth of its business and support its R&D efforts in order to continue to offer innovative services to its customers and maintain its technological lead in vehicle data access.
For Fieldfisher France, and its very active Capital Markets department, as shown by the particularly significant number of transactions advised in recent months, this new operation illustrates its expertise and mastery of the financial, technological and strategic issues in this attractive sector.
The Fieldfisher France team that assisted MUNIC was composed of Samuel Pallotto, partner, and Mathilde Ghez, associate.
Samuel Pallotto, head of Fieldfisher France's Capital Markets department, comments: "After having advised MUNIC during their IPO on the Euronext Growth Paris market in February 2020, we are delighted to have worked with them again and thank them for this confidence that has been renewed for several years now. This consistent and regular support is a perfect example of our willingness to commit to our clients over the long term in order to be at their side at every stage of their projects."
With the support of French and European investors, MUNIC issued 1,102,625 new shares at a unit price of €3.20 including issue premium, i.e. €0.04 par value and €3.16 issue premium, for a total gross amount of €3,528,400, representing 12.29% of the outstanding MUNIC shares after the capital increase. It amounts to a discount of 8.4% compared to the weighted average of the MUNIC share price over the last five trading days prior to its determination.
The net proceeds of this fundraising will be used to strengthen MUNIC's equity and financial resources. It will provide the company with additional resources to finance the sustained growth of its business and support its R&D efforts in order to continue to offer innovative services to its customers and maintain its technological lead in vehicle data access.
For Fieldfisher France, and its very active Capital Markets department, as shown by the particularly significant number of transactions advised in recent months, this new operation illustrates its expertise and mastery of the financial, technological and strategic issues in this attractive sector.
The Fieldfisher France team that assisted MUNIC was composed of Samuel Pallotto, partner, and Mathilde Ghez, associate.
Samuel Pallotto, head of Fieldfisher France's Capital Markets department, comments: "After having advised MUNIC during their IPO on the Euronext Growth Paris market in February 2020, we are delighted to have worked with them again and thank them for this confidence that has been renewed for several years now. This consistent and regular support is a perfect example of our willingness to commit to our clients over the long term in order to be at their side at every stage of their projects."