Horizontal Software S.A. (ENXTPA:ALHSW) announced a private placement of 120,000 ordinary shares at €1 per share for gross proceeds of €120,000 and 300,000 ordinary shares at €1 per share for gross proceeds of €300,000, for aggregate of 420,000 ordinary shares at €1 per share for gross proceeds of €420,000 on June 21, 2018. The transaction will include participation from existing investor Truffle Capital for €300,000 and will include participation from management and directors of the company. The transaction has been approved the combined general meeting via its 10th and 11th resolution. The company has the option to to increase the number of ordinary shares to be issued within thirty days of the closing of the transaction, within the limits of 15% of the initial amount and the overall ceiling of the authorizations.