On December 16th, e-Novia spa, an “enterprise factory” with a focus on sustainable mobility and collaborative robotics, will land on Euronext Growth Milan Pro. Founded in 2015 by Vincenzo Russi, Ivo Boniolo, and Cristiano Spelta, the company will have an expected capitalization, as of the listing date, of about €167 million with a free float of 10.33 percent of the share capital.
The listing follows the private placement of shares concluded last November, for a total, according to BeBeez.it, of €17.6 million, of which €14.7 million were in capital increase and the remaining just under 3 million sold by a shareholder. Participating in the investment were several entrepreneurs who invested in the form of club deals through various investment vehicles including Clubtech Investimenti.
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e-Novia creates technology products and businesses through an industrialized process
Added to this amount was the conversion of a convertible bond issued in 2019 at a price of €6.12 per share, or €7.20 minus a 15 percent discount, for a combined total of about €23.2 million. Those who exercised the bond conversion include some large Italian companies such as Shimano, STMicroelectronics, and Agrati.
Part of the converting loan, totaling €7.5 million, had been subscribed in March 2020 by Fin-Novia srl, an investment vehicle that had raised through an equity crowdfunding campaign on the BacktoWork platform. More than 220 investors had joined the campaign, thanks mainly to the support of Intesa Sanpaolo Private Banking, which, through its national network, had proposed the deal to its clients.
e-Novia creates technology products and businesses through an industrialized process that includes design, engineering, business development, and management activities (Legal, HR, IP, management), as well as direct cash investment and/or fundraising activities for co-investment by third-party investors.
Vincenzo Russi, co-founder, and CEO of e-Novia recalled yesterday, “In recent years, e-Novia has raised financial resources in the form of venture capital and financing totaling €64 million and €25 million, respectively, to support growth plans based on substantial investments in the development of innovative technologies. These assets enable us to strengthen our position as a global player in deep tech.”
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