Bluelinea Société Anonyme (ENXTPA:ALBLU) announced a private placement of 400,000 common shares at a price of 7.50 per share for gross proceeds of 3,000,000 on May 17, 2016. The transaction will include participation from new investor Hager SE. The transaction is subject to a certain number of suspense conditions and particularly the agreement of the shareholders of the company at the time of the next general assembly on June 27, 2016. The company will also issue warrants in the transaction. Each stock warrant will allow the purchase of a new share at the unit price of 10 per share warrant for potential additional proceeds of 3,900,000. Part of these stock warrants would be reassigned by the investor to the management team of the company, where applicable, subject to the achievement of the objectives. Post the closing of the transaction; the investor will own 12.54% of the capital and 8.85% of the voting rights of the company on the basis of the existing capital to date. As part of the round; the investor will appoint a representative to the company's board of directors.