- On May 31, 2Performant begins trading its preference rights
- The subscription price per share was set at 28.2674 lei per share and includes approximately 20% discount compared to the current price of 2P shares
- The technology company operates a capital increase through cash contribution which aims to attract 5 million lei worth of investments, to support the company’s development plans, which is growing rapidly
- 2Performant will grant free shares at a 4 to 1 ratio, including the investors who will participate in the capital increase
The technology company 2Performant, the leader of the affiliate marketing market in Romania, and listed on BSE’s AeRO market (stock symbol 2P), announces that on May 31st it will begin trading the preference rights related to the capital increase that the company will be undertaking soon. The preference rights, symbol 2PR01, have been loaded in the shareholders’ accounts on April 8, 2021 and can be traded on the AeRO market of the Bucharest Stock Exchange starting May 31 and up until June 14, 2021. The subscription price per share has been set at 28.2764 lei per share, at a discount of approximately 20% compared to the price registered on 25.05.2021, during the last trading session on the stock exchange. The price includes the nominal value of the share (0.1 lei) plus the issue premium (28.1764 lei) and has been calculated using the following formula: the weighted average price per share for the 30 days prior to the submission date of the final form of the prospectus to the Financial Supervisory Authority (FSA), namely May 10, 2021, to which a 25% discount is applied. To subscribe a new 2P share at the above price, 5,68424 preference rights are required, rounding to the nearest lower natural number.
Also, the company has already announced the decision to grant free shares to investors after the completion of the capital increase through cash contribution, so that the investors who participate in the capital increase will also receive free shares. 2Performant will grant free shares at a 4 to 1 ratio, through a share capital increase by a maximum amount of 495,970.4 lei.
The first listed tech company 100% focused on the development of its own product, 2Performant aims to attract a 5 million lei investment through this capital increase by issuing 185,500 new shares during the operation. The prospectus for the increase has been approved last week by the FSA and has been published both on the BSE’s website and the company’s website.
Being a fast-growing technology company, 2Performant faces important market opportunities, which it aims to capture by investing in 3 major initiatives: developing strategic partnerships with important online commerce and affiliate marketing players (such as regional, European, and global affiliate networks and brands with high online commerce traction), growth and consolidation initiatives in markets where it already has a strong position (Romania and Bulgaria), and the development of a new way of tracking and acurately assigning conversions on the 2Performant.com platform.
“2Performant is in the right place at the right time: in the tech sector, where ecommerce and digital marketing intersect, two industries bound to grow rapidly in the coming period, especially in Central and Eastern Europe. This is the time to scale the business and expand into other markets, and the investments enabled by raising capital will help accelerate the company’s development. Thus, we will be able to generate the forecasted 26% turnover growth for 2021, and we’re laying the foundations for our development in the following years so that by the end of 2025 we will have achieved a turnover four times that of 2020”, said Dorin Boerescu, 2Performant CEO and Chairman of the Board.
Last year, the 2Performant.com technology platform has brokered over 1 million sales for the platform’s nearly 800 online stores, worth more than 50 million euros. Also, the company has generated a 31% increase in turnover, reaching 20.28 million lei in 2020.
Stages of the capital increase
The trading of preference rights, 2PR01, will take place between May 31 and June 14. At the end of this period, the first stage of the capital increase process will begin, in which investors holding preference rights have 31 days (June 22 – July 22) to subscribe for the new shares by paying the price per share.
If at the end of the first stage any shares will remain unsubscribed, they will be offered to a maximum of 149 investors in a private placement, at a higher price than that of the public offer. The private placement will take place between August 5 and August 18, with the possibility of early closure.
After the end of each stage, the shareholders who bought new shares will receive 2PR02 rights in their account, which will be transformed into 2P shares after the completion of the registration process of the share capital increase at the NTRO, FSA, and the Central Depository.
SSIF Goldring is the intermediary of the public offer pertaining to the share capital increase, as well as of the private placement.
2Performant has been listed on the AeRO market of the Bucharest Stock Exchange since December 2020, currently has a capitalization of over 36.7 million lei.