Last night, Alpha MOS announced the launch of a €6.3 million capital increase, sending its share price plunging by more than 30% on Friday morning on the Paris Bourse.

The group explains that the operation will enable it to strengthen its financial structure with a view to pursuing its development with key accounts in the agri-food sector, while covering its financial needs for less than 12 months.

In particular, the manufacturer of electronic noses, tongues and eyes will have to meet several interest and principal debt repayments this year, amounting to 1.9 million euros.

In detail, the operation involves the issue of 15.73 million new shares at a unit price of 0.40 euro, representing a discount of 44.7% to Wednesday evening's closing price.

This substantial discount implies a high dilutive impact, since a shareholder controlling 1% before the capital increase will now hold only 0.39% following the fund-raising.

The company's two main shareholders have declared their intention to subscribe to the transaction, accounting for 79.6% of the total.

In further bad news, the company warned that its annual consolidated sales for 2023 had come in at 4.5 million euros, below the forecast figure of 4.8 million euros that the group had communicated in December.

The company plans to issue a press release on March 14, giving further details on its business for 2023.

In the meantime, the share price collapsed by almost 35% in late morning trading, making it by far the biggest faller on the Paris market on Friday.

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