BREAKING NEWS – 12.12.2022

In the press release of 9 December 2022, FAE Technology SpA – Società Benefit, an innovative SME operating in the design, prototyping, planning, and production of solutions for the integrated electronics sector, listed on the Euronext Growth Milan (EGM) market, announces that Integrae SIM SpA, as Global Coordinator, has fully exercised the greenshoe option, in capital increase, granted by the company during the placement of its ordinary shares, for a total of 333,000 ordinary shares.

The admission to listing took place with the placement of a total of 3,333,000 newly issued ordinary shares, at € 1.50 per ordinary share, for a value of approximately € 5.00 million, of which: 3,000,000 new ordinary shares resulting from the capital increase for the IPO transaction and 333,000 ordinary shares resulting from the capital increase for the greenshoe option.

Following the full exercise of the greenshoe option, the free float is equal to 21.74%, and the share capital of FAE Technology SpA, represented by 15,333,000 shares, is held as follows:

• GML Ventures Srl, a company attributable to Gianmarco Lanza and Luciana Giudici, holds 11,640,000 shares (75.91%);
• Sehme Sagl, a company attributable to Angelo Facchinetti, holds 240,000 shares (1.57%);
• William Montalbano holds 120,000 shares (0.78%);
• The market holds 3,333,000 shares (21.74%).

Considering the press release, we confirm our recommendation: the target price increases from € 3.85 to € 3.77 only for the new number of shares considered. Our BUY rating and MEDIUM risk remain unchanged.

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