After Completing Two Crowdfunding Campaigns, Alfonsino Will Be Listed on Euronext Growth Milan

Alfonsino, an innovative startup from Caserta specialized in food order and delivery will be listed on Euronext Growth Milan (formerly Aim Italia) of the Italian Stock Exchange on November 22nd, at the price of $1.8 (€1.6) per share. The date of admission to the stock exchange is scheduled for tomorrow, after Alfonsino has successfully completed the book building, with orders for about $8.5 million (€7.5 million). The offer is aimed at qualified investors and concerns newly issued ordinary shares and warrants, which will be assigned free of charge to all those who subscribe ordinary shares as part of the placement. The expected funding is approximately $5.65 million (€5 million).

The news was expected: Alfonsino in fact had submitted the application for pre-admission to the listing at the end of October. In the listing process, the company was assisted by Banca Finnat as Euronext Growth advisor and global coordinator, by Ambromobiliare as financial advisor, by Studio Porcaro e Frezza Avvocati Associati as strategic advisor, by Chiomenti as legal advisor of the issuer, by BDO Italia as auditing company, by BDO Tax as fiscal advisor, by Clarkson Hyde for the validation of extra-accounting data and by CDR Communication as investor and media advisor.

Recall that Alfonsino previously cashed in $169,000 (€150,00)0 in May 2018 through an equity crowdfunding campaign on the 200Crowd platform, with a pre-money valuation of 900 thousand euros and, in a second-round in 2020, $492,000 (€436,000) again on 200Crowd, overfunding the minimum target of $395,000 (€350,000), with a pre-money valuation of $10.7 million (€9.5 million).

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Alfonsino was founded in 2016

Alfonsino is a PMI founded in 2016 in Caserta by Carmine Iodice, Domenico Pascarella, and Armando Cipriani as an innovative startup operating in the order&food delivery sector. To distinguish itself from its competitors, the company focused exclusively on home delivery in small and medium-sized Italian centers between 25 thousand and 250 thousand inhabitants in central and southern Italy. The service is therefore available in 61 small and medium-sized centers and in the surrounding municipalities, distributed in 10 regions. The activity is governed by a technological infrastructure entirely developed by the company, thanks to a dedicated team that develops and manages both the software, which processes the orders and the app made available to customers (to order), partners (to prepare the orders) and drivers (to complete the delivery). The company has hired more than 700 drivers.

Alfonsino has integrated its offer with the order&delivery service of wines and spirits, food and basic necessities, medicines, sports products, plants, and flowers. The company also intends to extend its service to new towns and cities, including the driver-less service, and consolidate its leadership position in the towns and cities already covered, as well as to continue to expand its offer through the inclusion of new products.

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