16.2.2021 11:00:22 CET | Valuer |
Company Announcement
Company Announcement No. 5-2021
Copenhagen, 16 February 2021
Today, Valuer Holding A/S announces the result of the offering of new shares in connection with the application of admission to trading of the Company’s shares on Nasdaq First North Premier Growth Market Denmark, see Company Announcement no. 1 of 2 February 2021 and the Growth Prospectus published on 2 February 2021.As announced on 9 February 2021 (Company Announcement No. 4), the subscription period was closed three days early on 12 February due to significant investor interest. Consequently, the timetable for the offer has been adjusted accordingly:
End of the Offer Period
12 February 2021 at 23:59 CET
Announcement of result
16 February 2021 at 11:00 CET
Settlement of offered shares
18 February 2021
Registration of new shares with the Danish Business Authority (Erhvervsstyrelsen)
19 February 2021
First day of trading on Nasdaq First North Premier Growth Market Denmark
22 February 2021
The Company’s offer of 7,692,307 new shares at an offer price of DKK 13.00 per share is fully subscribed. Andersen Advisory Group A/S and Dennis Poulsen Holding ApS had a conditional sales right of up to 1,150,000 shares and 460,000 shares, respectively, that could be utilized in case of oversubscription of the Offering. Andersen Advisory Group A/S has not used its conditional sales right, while Dennis Poulsen Holding ApS has sold 73,461 shares to ensure that Valuer fulfills the free float requirement of Nasdaq First North Premier. Hence, the gross proceeds from the offering for Valuer amounts to DKK 99,999,991, which will be invested in the Company’s sales and marketing as well as in the company’s development activities. The gross proceeds for Dennis Poulsen Holding ApS amount to DKK 954,993.In addition to the 4,211,431 new shares that were allocated to investors in the pre-subscription period, the Company received 6,036 orders at a total of 18,109,480 new shares in connection with the public offering. In total, this amounts to an aggregate subscription for new shares in the offering of DKK 290 million.The first day of trading at Nasdaq First North Premier Growth Market Denmark is expected to be 22 February under the ticker ‘VALUER” under the permanent code ISIN:DK0061418977.Valuer’s CEO, Dennis Poulsen states about the offer period “We are very pleased with the result of the offering, and in particular we are humbled by the interest and trust that investors have shown in us. We are well aware of our responsibility to our shareholders, and we will be strongly focused on executing the strategy described in the IPO documents. The positive development will particularly be fueled by our vision of becoming the go-to platform for innovation. We will use the proceeds from the offering to accelerate the planned expansion and internationalization strategy of Valuer.”Valuer’s Certified Advisor, Jesper Skaarup Vestergaard, Partner at Grant Thornton echoes Dennis Poulsen’s message about the offer period ”As a result of Valuer’s very strong fundamentals and the strong awareness that Grant Thornton, together with the management of Valuer, has created in the Danish investment community, we envisage that both the equity story and the liquidity in the share will be strong. Valuer has a large free float, and the large number of shares are both key elements in ensuring a transparent and market-driven share, where the future positive development of the business case will be reflected in the share price development (NASDAQ ticker: “VALUER”). In other words, we believe that with the work that has been performed we have created the perfect launch ramp for both the company’s growth ambitions and for its current and future shareholders.”Summary of the offering:
The Company issues 7,692,307 shares as a result of the offering at a share price of DKK 13.00 per share.
As result of the oversubscription of the offering, Dennis Poulsen Holding ApS utilizes a minor part of the conditional sales right and sells 73,461 existing shares as part of the offering to help ensure that the Company fulfils its regulatory obligations regarding a free float of shares not under 25%.
The gross proceeds from the offered shares amount to DKK 99,999,991 for the Company, corresponding to an offer price per share of DKK 13.00
54.75% of the maximum offer of DKK 99,999,991 has been signed before the offer period.
Shares have been allocated to a total of 6,114 investor depositaries.
The ‘free float’ which is the amount of the share capital held by public investors, constitutes 25.1% of the share capital after the completion of the offering.
As a result of the significant interest in the shares, all subscription orders between 292 shares and 19,230 shares have been allocated 292 shares plus 5.59% of the requested allocation above 292 shares.
All subscription orders of DKK 250,000 or above have been allocated on the basis of the Company’s individual assessment.
The 78 investors that pre-subscribed for 4,211,431 shares before the publication of the Growth 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 460,000 distributed on 23,000,000 shares of DKK 0.02 to nominally DKK 613,846.14 distributed on 30,692,307 shares of DKK 0.02 nominally.
Registration of the capital increase at the Danish Business Authority (in Danish: Erhvervsstyrelsen) is expected to take place on 19 February 2021.
Additional information
First trading day of the Company’s shares at Nasdaq First North Premier Growth Market Denmark is expected to be 22 February 2021 with the ticker VALUER, under the permanent code ISIN:DK0061418977.As a prerequisite for admission to trading, Nasdaq First North Premier Growth Market Denmark must formally approve the spread of Valuer’s shares.
The Company’s Certified Advisor and financial advisor is Grant Thornton. The Company is also advised by Elmann Advokatpartnerselskab and PwC Statsautoriseret Revisionspartnerskab. The Company has chosen Danske Bank as its settlement agent in relation to the offering.
For further information please contact:
Valuer Holding A/SDennis PoulsenCEO & Co-founder Tel: (+45) 51 15 95 12dp@valeur.ai
Steffen HeegaardInvestor Relations, Valuer Holding A/STel: (+45) 40 25 35 24shee@outlook.dk
Certified AdvisorGrant ThorntonJesper Skaarup VestergaardTel: (+45) 31 79 90 00jesper.vestergaard@dk.gt.comGrant Thornton, Stockholmsgade 45 2100 Copenhagen Ø Denmark
About Valuer
Valuer is a born global platform company within the innovation economy. The vision is to become the go-to platform for innovation. Valuer’s data-driven AI platform matches large corporations in strategic innovation areas with innovative start-ups etc. And vice versa. Through Valuer’s digital platform, large corporations can search and filter out innovation partners within any area of innovation in a much more structured and efficient manner than in traditional analogue innovation processes. Founded in 2017, Valuer has already managed to onboard a number of global corporations.
Contacts
Dennis Poulsen, Founder and CEO, +45 5115 9512, dp@valuer.ai
Attachments
Download announcement as PDF.pdf
