LUCIBEL SA PRESS RELEASE
Rueil, May the 20th 2015
Lucibel successfully closes an additional round of financing and raises € 4.4m to accelerate its growth
Total amount requested : € 6,6m
An operation underwritten 1.7 times
1.089.324 new shares with warrants attached (BSAR) issued
Lucibel, an innovative company on new generation lighting products and solutions based on LED technology, announced today that it has successfully completed a new capital increase with preferential subscription rights (DPS), which took place from April the 27th to May the 12th, 2015. This operation enabled the company to raise total gross proceeds, share premium included, of
4.357.296 € through the issuance of 1.089.324 shares with equity warrants attached (ABSAR) at a
unit price of 4 euros.
This fund-raising aims at (i) accelerating Lucibel's organic growth, mainly through the development of its sales subsidiaries, both in France and internationally, on high value added markets segments and high potential geographic areas, and through the reinforcement of a client-focused solutions approach, (ii) increasing the company's ability to innovate through human and material reinforcement of its product development structures and financial support for innovative projects in the area of lighting (Lifi notably), and (iii) financing targeted acquisitions as part of a build-up strategy in a highly fragmented competitive environment.
Commenting on the success of the operation, founder and CEO of Lucibel said: « Thanks to this successful operation and to the actions incurred in 2014 on innovation, investment and optimization of the Group's organization, Lucibel takes a new step towards the profitability of its model and activities. I thank all of our shareholders, individuals and institutions, for the trust that they showed us during this new fund-raising. »
1.644.346 ABSAR requested or € 6.6m
The capital increase operation generated a total request for 1.644.346 ABSAR (165% subscription rate) for total gross proceeds of 6.577.384 €.
Irreducible demand for ABSAR amounted to 767.764 shares, which represents a 70% rate of use of the preferential subscription rights. Reducible demand for ABSAR amounted to 876.582.
Considering that there was more requests for shares than what was offered, Lucibel decided to fully exercise the extension clause set up at 8.14% of the capital increase, that is 82.031 ABSAR, thus raising the total number of new shares offered at 1.089.324 representing total gross proceeds of
4.357.296 €. Consequently, the reducible demand for ABSAR of 876.582 will be partially attributed at 321.560 ABSAR.
Aster Capital, CM-CIC Innovation and Etoile Finance (company controlled by M. Granotier family), the company's main shareholders, who respectively owned 7%, 4% et 20% of the share capital before the operation, and were committed to subscribe irreducibly to the capital increase operation by fully exercising their preferential subscription rights and to subscribe reducibly in order to ensure the operation success by 75% of the initial amount expected, have subscribed a total of 458.221
ABSAR or 1.832.884 €1.
Settlement date and listing of the new shares
The settlement date and listing of the new shares will be on the 22nd of May 2015. The warrants (BSAR) attached to the newly issued ABSAR will be detached on the 22nd of May 2015 at a rate of one (1) BSAR for each ABSAR.
Terms of the new shares
Newly issued shares will be assimilated to the existing shares and admitted to quotation on the
Alternext Paris market on the 22nd of May 2015.
Following the settlement date, Lucibel's capital will be composed of 8.644.025 ordinary shares, all traded on the Alternext Paris market (Euronext - ISIN : FR0011884378 - Mnémo : ALUCI), distributed as follows :
- Etoile Finance and Frédéric Granotier : 22,4 %
- Aster Capital : 7,2 %
- Bpifrance : 6,1 %
- CM-CIC Innovation : 5,3 %
- Other shareholders and treasury shares : 59,0 %
Dilution for a shareholder who did not take part in the operation represents 13%.
Terms of the warrants (BSAR)
A BSAR gives the right to subscribe to new Lucibel shares, at the rate of two (2) BSAR for one (1)
share, and at a unit exercise price of 6.50 euros.
BSAR owners will be able, at any time between July 2015 the 15th and June 2016 the 30th (that is 11 months and 15 days), to subscribe to new shares through the exercise of BSAR.
BSAR will be admitted to trading on the Alternext Paris market (Code ISIN : FR0012696680) starting from the 22nd of May 2015.
Legal basis of the offer
This capital increase by issuance of ABSAR with preferential subscription right was decided by the Board of the Company, during its session of April the 20th 2015, using the delegation that was conferred by
the 16th resolution adopted by the Shareholders General Meeting held on the 7th of March 2014.
1 Estimates made by the Company as of May 20th, 2015
Warning
The present issuance did not produce a prospectus authorized by the French market authority (AMF). A notice related to the present operation was published on the 24th of April 2015 in the French Bulletin des Annonces Légales et Obligatoires (BALO).
Risks factor
Before taking their investment decisions, investors are invited to focus their attention on the risks described in the 4th chapter « Facteurs de risques » of the company's Offering Circular, available on Lucibel's website (See Investors section - Documents).
Partners
Conseil de l'opération Communication financière
About Lucibel
Lucibel is a French innovative company, designer of new-generation lighting products and
solutions based on LED technology marketed in over 30 countries. For more information, please visit company website at www.lucibel.com
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Lucibel LedLucibe Lucibel LedLucibel FredGRANOTIER Press contacts Cinquième Pouvoir / The Desk Stéphanie Kanoui / 01 40 54 19 60 s.kanoui@thedesk.fr CalyptusMathieu CALLEUX / 01 53 65 68 68
mathieu.calleux@calyptus.net
LucibelPerrine SIMON
perrine.simon@lucibel.com
Investors contact Liquidity provider LucibelGilles AUBAGNAC
gilles.aubagnac@lucibel.com
Louis Capital MarketsMaxime Aboujdid / 01 53 45 10 71
maboujdid@louiscapital.com
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