BREAKING NEWS – 12.12.2023

In a press release of December 7, 2023, FAE Technology SpA – Benefit Company, an innovative SME operating in the design, prototyping, engineering and production of solutions for the integrated electronics sector, listed on the Euronext Growth Milan (EGM) market, announced that the Board of Directors has approved a capital increase, on a split basis with the exclusion of pre-emptive rights, for a maximum amount of € 2.00 million. The operation provides for a maximum of 1.00 million new ordinary shares, offered at a subscription price of € 2.00 (of which € 1.97 of premium and € 0.03 of capital share), whose subscription is reserved for qualified investors functional to the development of the Company’s business. Specifically, the new shares are intended exclusively for the French investment fund NextStage AM, which will obtain a significant stake equal to 6.11% of the share capital, which, as a result of the operation, will amount to € 0.53 million and consist of 16,373,375 ordinary shares. The subscription price was determined by applying a discount of 2.0% to the weighted average price of the Company’s shares over the past six months and a premium of 3.6% to the weighted average price over the past three months. The new resources, jointly with the previous funds raised in January last year, will be used partly to support the Company’s growth in the electronics market and its positioning in Italy and abroad and partly to support the recent acquisition of Elettronica GF Srl. In addition, it is reported that the Company has obtained BPI certification, which allows it to classify itself as an “Innovative Enterprise,” demonstrating the highly innovative nature of its activities and its constant commitment to R&D. NextStage SAS is a French independent management company that invests capital in small and medium-sized companies in France and Europe, alongside the independent investment fund NextStage AM, a leader in Growth Capital. The company adopts an ESG approach in its investment policies, supporting companies in environmental and social challenges through its private equity platform, which has raised nearly €8.00 billion and operates through three different areas: development capital, real estate investment capital, and online asset management. Taking the press release into consideration, we confirm our estimates: target price of € 4.60, BUY rating and MEDIUM risk.

Leggi il pdf