Cuatroochenta wants to reinforce its organic and inorganic growth plan to continue with its expansion strategy, with which the company expects to multiply its revenues over the years to come. The Board of Directors has agreed to increase the company's share capital for a total amount of up to 7.95 million euros at an issue price of 14.20 euros per share, which represents a discount of 13% compared to the last closing price registered the day before and more than 20% compared to the average price in 2022.
Existing shareholders of the Company will have preemptive subscription rights on the new shares. At the end of the pre-emptive subscription period, if any shares remain to be subscribed and allotted, a discretionary allotment process will be initiated. The capital increase is expected to be carried out during the month of June and is aimed at any type of investor.
The placement procedure involves Renta 4 Corporate as registered advisor, Renta 4 Banco as placement entity and agent bank, and Andbank as placement entity.
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Validated business model
Cuatroochenta plans to invest most of the funds in the execution of M&A transactions, following a successful acquisition track record since it became a listed company. Five integrations have taken place of companies specialized in niche solutions to improve the performance of organizations in a secure way, characterized by their ability to improve recurrence through commercialization under a SaaS model.
"We have already validated our business model; we have the necessary structure, diversification of customers, markets and product portfolio, and we are starting to scale and grow"
The company will also allocate funds from the capital increase to organic growth, boosting the development and improvement of proprietary solutions with the aim of making them benchmarks in their sectors, with a focus on improving their commercial liquidity, scalability and recurrence.
Cuatroochenta increased by 26% the pro-forma net sales to €14.8 million in 2021 compared to the previous year. An evolution that has been maintained in the results of the first quarter of 2022, doubling the turnover of the cybersecurity unit, Sofistic, and with 51% of recurring revenues.
