December 21, 2023, Giglio Group Spa closed the transaction. The company issued 11,300,000 shares at a price ?0.4425 for a gross proceeds of ?5,000,250. Meridiana Holding Spa subscribed for approximately 6,800,000 shares for a value of ?3,000,000, equal to 60% of the capital increase of which ?2,500,000 in cash that have already been paid into the company's coffers and ?472,000 by offsetting its own liquid and collectible receivables and Luxury Cloud Srl subscribed for approximately 1,600,000 shares for a value ?700,000 equal to 14% of the capital increase in cash that have already been paid into the company's coffers.