Offering of new shares in MapsPeople A/S was successfully completed – the Offering received subscription for DKK 237 millions

MapsPeople A/S | Offering successfully completed

MAY NOT BE PUBLISHED, DISTRIBUTED, OR SUPPLIED OR IN PARTICULAR, DIRECTLY OR INDIRECTLY, IN OR TO THE USA, AUSTRALIA, CANADA, OR JAPAN.This announcement does not constitute an offering circular, Prospectus, or other offer document. No one should purchase or subscribe for any securities in MapsPeople A/S ("MapsPeople" or the "Company") except on the basis of information in the Prospectus published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Premier Growth Market Denmark ("First North"), which is available on the Company's website.

Company Announcement No. 3-2021
 

Aalborg, May 27 2021

Today, MapsPeople A/S announces the result of the Offering of shares in connection with the admission to trading of the Company’s shares on Nasdaq First North Premier Growth Market Denmark cf. Company Announcement No. 1-2021 of May 7, 2021.
 

As planned, the offer period closed on May 25, 2021, 11:59pm (CET). The Company’s offer of 12,500,000 shares at an offer price of 6,80 DKK per share was fully subscribed. With the proceeds from the Offering, MapsPeople intends to accelerate the Company’s planned sales and growth strategy for the indoor mapping and navigation platform MapsIndoors. MapsPeople holds a strong market-leading position, and with the proceeds from the Offering, MapsPeople will be able to reinforce the market-leading position. The Capital raised in the Offering will primarily be invested into three key operational areas: product development, market expansion, and increased marketing.

In addition to the 7,352,941 shares that were allocated to investors in the pre-subscription, the Company received 4,604 orders for a total of 27,435,383 (DKK 187 mil.) shares in connection with the public offering. Thus, the Company received orders for a total of 34,788,324 shares (DKK 237 mil.) equal to an oversubscription of the total Offering of 178%.  
 

The first day of trading at Nasdaq First North Premier Growth Market Denmark is expected to be June 2, 2021 under the ticker “MAPS”. The temporary ISIN code, DK0061549136, will be merged with the permanent ISIN code, DK0061549052, which is expected on 3 June 2021.
 

MapsPeople's CEO and founder, Michael Gram, states about the offer period: “We are very thankful for the result of the offering and humbled by the confidence that both existing and new investors have shown us as well as our ambitions for the company. We are aware of the responsibility we have towards our stakeholders, and our continued efforts will be focused on delivering positive development in line with our ambitious growth strategy. The result of the offering allows us to invest in our key areas.”

Chairman of the Board, Lars Brammer shares his thoughts on the results: “We are pleased to welcome all our new investors in MapsPeople. We are looking forward to fulfilling the growth ambitions and the huge potential we know is present in the market. The capital raised enables the company to continue its fantastic journey at an accelerated pace”.
 

SUMMARY OF THE OFFERING

• As a result of the Offering, MapsPeople issues 12,500,000 shares of nominally DKK 0.02 each at a share price of DKK 6.80 per share.

• The gross proceeds for the Company are DKK 85,000,000 before transaction costs.
• Shares have been allocated to a total of 1,797 investor depositaries.
• The ‘free float’, which is the percentage of the share capital held by public investors, constitutes 31.8% of the share capital after the completion of the Offering.
• All subscription orders up to 2,942 shares have not been allocated any shares.
• All subscription orders above and including 2,942 shares have been allocated 21.90% of the shares requested.
• The investors that pre-subscribed for 7,352,941 shares before the publication of the Prospectus have all been allocated full subscription of shares.
• After completion of the Offering, the share capital of the Company will be increased from nominally DKK 839,516.00 distributed on 41,975,800 shares of DKK 0.02 to nominally DKK 1,089,516.00 distributed on 54,475,800 shares.
• Registration of the capital increase with the Danish Business Authority (in Danish: Erhvervsstyrelsen) is expected to take place on 31 May 2021, subject to settlement of the Offering.
• Settlement of the Offering will take place by delivery of shares in the temporary ISIN code. The temporary ISIN code will not be admitted to trading on Nasdaq First North Growth Market Denmark but will only be registered in VP Securities. First day of trading on Nasdaq First North Growth Market Denmark in the permanent ISIN, DK0061549052, is expected on 2 June 2021. The temporary ISIN code, DK0061549136, is expected to be merged with the permanent ISIN code, DK0061549052, following and subject to settlement of the Offering and registration of the capital increase with the Danish Business Authority.

IMPORTANT INFORMATION

This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by MapsPeople A/S in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan.

This announcement does not constitute an offering circular, Prospectus or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in MapsPeople A/S except on the basis of information in the company description published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Growth Market Denmark ("First North"), which is available on the Company's website.Neither the existing shares of MapsPeople A/S nor the Offer Shares have been, or will be, registered under the United States Securities Act of 1933, as amended ("Securities Act"). Neither the existing shares nor the Offer Shares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Offering is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication of a prospectus, registration or other measures. Any application to subscribe for the Offer Shares in violation of these restrictions may be void. Persons who receive copies of this announcement are required to inform themselves about, and comply with, such restrictions. Any failure to comply with the restrictions described may result in a violation of securities regulations.Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact) relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. The Company has based these forward-looking statements on its current views with respect to future events and financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements. These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speak only as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.

Source: MapsPeople

Tag: MapsPeople-Company-Announcement
 

CONTACT INFORMATION

MapsPeople A/S

Michael Gram, CEO

Mobile (+45) 53 74 09 00

Email mg@mapspeople.com 

Stigsborgvej 60, 9400 Nørresundby

Certified Advisor

Grant Thornton

Jesper Skaarup Vestergaard

Mobile (+45) 31 79 90 00

Stockholmsgade 45 2100 Copenhagen Ø Denmark