News

Cuatroochenta
_
financed
_
with
_
6.82
_
million
_
thanks
_
to
_
capital
_
increase

Investors  ·  Results

The company culminates its largest financing round with the issuance of 452,000 shares in the capital increase and the conversion of the loan from Pavasal, which will allow the company to continue fulfilling its growth plan. After the transaction the number of Cuatroochenta shareholders will amount to 859.

Cuatroochenta has successfully completed its capital increase process initiated last June 1st in a context of economic uncertainty and despite the negative evolution of the markets. An important fundraising exercise and the largest carried out by the company since its foundation, this will allow it to continue implementing its organic and inorganic growth plan, with which it expects to multiply its recurrent revenues over the next few years.

The technology company culminates its financing round with an amount of 6,825,017.20 euros, thanks to the raising of 6,425,017.20 euros through the capital increase process with cash contributions and the conversion of the convertible loan signed with Pavasal Group for an amount of 400,000 euros.

After the closing of the financial year, Cuatroochenta’s Board of Directors has agreed to execute the capital increase with cash contributions with the issuance of a total of 452,466 shares at a once of €14.2 each. 64,464 of these are related to shareholders who have exercised their pre-emptive subscription right, representing 14% of the total. It is worth mentioning that, in addition, 8% of the amount raised has been contributed by members of Cuatroochenta’s Board of Directors and by Inveready, demonstrating their commitment with Cuatroochenta and the loyalty generated by the project.

The capital increase has resulted in the entry of 188 new shareholders, whose contribution represents 80% of the operation, for a total of 859.

New share issue

The new shares issued under this capital increase will be recorded as by book entries; Iberclear will be responsible for their accounting registration.

BME Growth will inform the market of the start date of trading of the new shares by means of the corresponding notice once their incorporation has been agreed.

Andbank and Renta 4 Banco acted as underwriters for the transaction and Renta 4 Corporate acted as registered advisor and agent bank for the company.

Cuatroochenta guarantees, with this operation, the continuity of its organic and inorganic growth plan to continue offering quality cloud software and cybersecurity services to more clients in more markets.

Invest in Cuatroochenta