(Alliance News) - Cube Labs Spa announced on Monday that the board of directors has resolved to proceed with the placement of a maximum of 250,000 shares, no par value, with regular dividend rights, having the same rights as the currently outstanding shares, for a maximum value of EUR500,000.00 including share premium.

The new shares are derived from the capital increase approved by the shareholders' meeting on January 23, 2023, to service the listing transaction and with a final deadline for subscription set at December 31, 2023, for a maximum nominal amount of EUR8.0 million including share premium, with the issue of 2.0 million ordinary shares at an issue price of EUR2.00 per share, of which EUR0.03 is to be allocated to capital and EUR1.97 to share premium.

The placement is aimed at qualified Italian or foreign investors from any state except Australia, Canada, Japan and the United States of America.

The placement, if the new shares are fully subscribed, will have the effect of increasing the number of shares to 17.3 million and the company's free float to 13.31 percent while broadening and diversifying the company's shareholder base.

The subscription price of the new shares is EUR2.00 per share cu EUR0.03 to be charged to share capital and EUR1.97 as a share premium.

The placement that began today will end on July 28, 2023.

Cube Labs' stock closed Monday flat at EUR2.11 per share.

By Chiara Bruschi, Alliance News reporter

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