MapsPeople: Announces DKK 8.5m capital raise in private placement
Today, MapsPeople announced that the company’s private placement has been successfully subscribed. The company raises approx. DKK 8.5 million (gross proceeds) in new capital.
Last week, MapsPeople announced that the company will raise DKK 7-9m in new capital, and the subscription period of the private placement ended today 28 November. In line with this announcement, MapsPeople today announced that the company will issue 7,151,781 new shares, subscribed for a market price of DKK 1.19 per share, corresponding to gross proceeds of DKK 8,510,619.75. The share price corresponds to the average closing price of the share in the period from 16 November 2023 to 22 November 2023.
The new shares in the offering have, among others, been subscribed from MapsPeople's existing shareholders including EIFO, Kapitalforeningen BankInvest Select, MapsPeople's CEO Morten Brøgger, and members of the Board of Directors including Lars Brammer, Michael Gram, and Rasmus Mencke.
The payment of the subscription amounts and registration with the Danish Business Authority is expected to take place on 1 December 2023. The new shares will be admitted to trading in the existing ISIN code, which is expected to be on 5 December 2023.
HC Andersen Capital receives payment from MapsPeople for a Corporate Visibility/Digital IR subscription agreement. /Kasper Lihn 15:37, 28 November 2023.
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MapsPeople
MapsPeople is a Software-as-a-Service (SaaS) company focusing on digital mapping for indoor navigation. The two primary revenue streams are 1) MapsIndoors which is MapsPeople’s own developed mapping solution for indoor navigation 2) Google Maps partnership with Google. MapsIndoors is the key segment with high double-digit growth rates, and the Google Maps segment is expected to be a more steady business going forward. MapsPeople has a global presence with offices in Denmark, Germany, Singapore and United States, and customers include some of the largest brands in the world. The company has been listed at Nasdaq First North Premier in Denmark since June 2021.
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