Egide announced on Wednesday that it had secured financing for the continuation of the turnaround plan for its US subsidiaries, which led to a jump in its share price on the Paris Bourse.

The specialist in the manufacture of hermetic enclosures for sensitive electronic components announced this morning the launch of a new capital increase of around 1.9 million euros.

The group states that it has obtained subscription commitments from several of its shareholders, representing 100% of the capital increase, enabling it to guarantee completion of the operation.

These include, in detail, the venture capital company Pléiade Venture, its largest shareholder, Hervé Arditty, founder of iXblue, an Egide customer, and Michel Faure, Chairman of the Board of Directors.

In its press release, Egide said it planned to issue 2.96 million new shares at a unit price of 0.65 euros, representing a premium of 4.8% to last night's closing price.

These funds will be used to repay a bond loan maturing in December 2023, and above all to continue the turnaround of its two US subsidiaries.

Egide shares were up by more than 6% in early morning trading on Euronext Paris, outperforming a Paris market up by 0.4% at the same time, taking its gains this year to almost 12%.

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