Innovative-RFK (i-RFK), the Italian holding company for investments in innovative SMEs and startups, has started the placement of a minibond with a maximum target of $5.8 million (€5 million) on the Italian portal CrowdFundMe. This is the first bond instrument on the portal that is also aimed at a specific retail clientele, defined by Consob a year ago with the changes to the crowdfunding equity regulation. The investment methods are completely online.
The bond issue has a duration of five years, an annual interest rate of 6%, a minimum investment denomination of $11,600 (€10,000) and a premium, in case of redemption, within the third year from the issue date. At the end of the campaign on CrowdFundMe, the minibond will be listed on the ExtraMot Pro3 segment of Borsa Italiana. Studio Nctm and Directa are, respectively, the legal advisor and the paying agent of this operation.
Read more about the first minibond placement by CrowdFundMe which is also aimed at retail investors and find out the latest economic news with our companion app Born2Invest.
The news of the placement on CrowdFundMe was expected
Last June, the portal had announced that the issue of i-RFK was in pipeline, together with that of Hal Service. CrowdFundMe was authorized to place minibonds last June.
Tommaso Baldissera Pacchetti, CEO of CrowdFundMe, commented: “With the issue, on crowd-investing platforms, of minibonds linked to companies and startups, fintech meets traditional finance and offers it a valuable help in a critical period, such as the one we are experiencing, in which the real economy needs timely actions. In addition, we will soon issue the bonds of other Italian companies already in the pipeline, with a view to fostering the growth of many of the leading lights of our entrepreneurial fabric.”
i-RFK has a market capitalization of $12.7 million (€11 million)
i-RFK was founded in 2017 by Paolo Pescetto, Massimo Laccisaglia and Andrea Rossotti. It was listed on Euronext Access on December 27th 2019, following an increase in an equity crowdfunding campaign on CrowdFundMe, which raised $2.9 million (€2.5 million), equal to 23.5% of the capital.
i-RFK, which has more than 260 employees, an aggregate production value of approximately $31.3 million (€27 million) and a market capitalization of $12.7 million (€11 million), is the result of the experience of Red-Fish Kapital, which has been operating for several years in the field of private equity investments, also in the form of a club deal, alongside private and institutional investors and the consulting firm Arkios Italy.
i-RFK, rated B1+ by the Modefinance rating agency, has an investment plan that foresees, for the current year and next, the investment of $3.6 million (€3.1 million) in the investee companies, supported by the residual liquidity of the holding company, the issue of the minibond and future capital increases. To date, i-RFK has already invested approximately $7.5 million (€6.5 million) involving 50 private and qualified investors, obtaining an annual Irr above 30% and estimated at 50% in 2019. Innovative-RFK currently has 5 subsidiaries: Keisdata, Easy4Cloud, Websolute, Inventis, Microcredit. The latter has recently raised over $1.97 million (€1.7 million) in its equity crowdfunding campaign on the BacktoWork platform and is currently running a second round on Opstart.
The valuation of the holdings of the 5 companies in the portfolio is $13.7 million (€11.8 million), but for listing purposes the value of the latest capital increase has been maintained and therefore $12.1 million (€10.5 million), which spread over the total number of shares (approximately $10.2 million (€8.79 million) becomes $1.38 (€1.19) per share.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Crowdfunding buzz, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Virtual reality in the classroom: How XRApplied is making it happen
A large body of research is making a case for the revolutionary benefits of putting AR and VR in the...
Two French laboratories announced investments recently
The French laboratory Pierre Fabre announced an investment of $5.3 million (€4.5 million) to produce the active ingredients for binimetinib...
Rritual builds mass market appeal for functional mushroom adaptogens: case study in health marketing
Marketing a product in any niche is tricky, but marketing a product beyond its niche is folly. Or brilliance. The...
Italy has classified CBD as a narcotic: CBD oils are to disappear from stores
Italy has just classified CBD as a narcotic. The decree is a threat to the entire cannabis industry in Italy,...
Workinvoice to launch the invoice advance integrated in the management software
Workinvoice and Passepartout launched the invoice integrated in the management software. Invoice trading allows companies to assign outstanding trade receivables...
Featured7 days ago
B2B only: Spotcap sells credit business to Ferratum
Business7 days ago
Not all software IPOs are created equal
Featured7 days ago
Domestic demand versus export demand: which is better?
Cannabis6 days ago
What types of licenses for the production of cannabis will be granted in Ecuador