Rome, 20 October 2021 - Defence Tech Holding S.p.A., at the head of a group among the leading leader in the field of Cyber Security, of the big data, of theintelligence, space and national defence, hereby announces that today the bookbuilding related to the process of admission to trading of its ordinary shares (the "Listing") on the AIM Italia multilateral trading system ("AIM Italia"), organised and managed by Borsa Italiana S.p.A. ("Borsa Italiana"), which as of 25 October will be named Euronext Growth Milan.
In 2020, the Defence Tech group generated a turnover of more than EUR 17 million, up on 2019 despite the global Covid-19 pandemic. In the same period, Adj EBITDA amounted to Euro 3.5 million. As of 30 June 2021, the Group recorded excellent results with a turnover of Euro 9.6 million and EBITDA Adj already amounting to Euro 3.5 million in only six months.
On 13 October, the Company filed the Pre- Admission Notice with Borsa Italiana and, on 18 October, the Company's Board of Directors set the price range between a minimum price of Euro 3.30 per share and a maximum price of Euro 4 per share, equivalent to a equity value pre-money between approximately EUR 60.7 million and EUR 73.6 million with a free float of approximately 30%. The final share subscription price will be announced by means of a press release on the Company's website.
In service of the Listing, an institutional placement is envisaged aimed at (a) qualified Italian and foreign investors, as defined and identified by Article 2 of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017, (b) foreign institutional investors (belonging to any State except Australia, Canada, Japan and the United States of America), with the consequent exclusion from the obligation to publish a prospectus (the "Institutional Placement").
The Institutional Offering will consist of shares deriving from a paid capital increase, with the exclusion of option rights pursuant to Article 2441, paragraph 5, of the Italian Civil Code, reserved to investors for an amount equal to Euro 25 million (the "Offering"). The selling Shareholders, Comunimpresa S.r.l., GE.DA. Europe- S.r.l. and Starlife S.r.l., in agreement with the Global Coordinator, to increase the Offer, in consideration of the acceptances received in the context of the offer and subject to the full subscription of the capital increase, through the offer for sale on a pro rata basis among them of a maximum number of ordinary shares equal to 18 per cent. of the number of shares subject to the Offer for a maximum countervalue of Euro 4.5 million (the "Faculty to Increase").
The activities of bookbuilding will begin today and will end on 26 October 2021, unless extended or closed earlier. The commencement of trading of the Company's ordinary shares on AIM Italia (Euronext Growth Milan) is scheduled for 29 October 2021.
In the transaction Defence Tech Holding is assisted by Equita as Nominated Adviser (Nomad), Global Coordinator and Specialist and by Pirola Corporate Finance as financial advisor. The law firm Pirola Pennuto Zei e Associati is the legal advisor of the Company, Advant Nctm of the Global Coordinator and the Nomad, while Foglia & Partners is the tax advisor. The auditing firm is PWC and WPartners is the non-accounting advisor.
