windeln.de SE completes capital increase – full placement with gross proceeds of EUR 6.2 million

Munich, February 17, 2020: windeln.de SE ("windeln.de" or "Company") announces the completion of the capital increase. The share capital will be increased by EUR 5,171,144 to EUR 8,160,245.00 by the issue of a total of 5,171,144 no-par value bearer shares with a pro rata amount of the share capital of EUR 1.00 each and a profit entitlement from 1 January 2019 ("New Shares") against cash contribution of EUR 2,989,101.00. Based on the fixed subscription price of EUR 1.20 per New Share, gross proceeds amount to EUR 6,205,372.80.
980,081 new shares were purchased by existing shareholders of the Company via subscription rights with a subscription ratio of 1:1.73 and additional subscription during the subscription period from January 23, 2020 to February 5, 2020. 4,191,063 new shares for which existing shareholders had either not exercised their subscription rights or had previously agreed not to exercise them were placed in a private placement.
Thus, a full placement of the capital increase took place. The two existing major shareholders Summit Asset Management Company Limited and Pinpoint International Group Limited participated in the private placement. In addition, a new major Chinese investor, Youth Pte. Ltd., as well as the companies Holland at Home B.V. and bodyguardpharm GmbH ("Bodyguard") participated in the private placement.
The New Shares with ISIN DE000WNDL219 / WKN WNDL21 are expected to be delivered to shareholders with a value from 26 February 2020 as shares not admitted to trading on the stock exchange. They are initially to be included in the over-the-counter market of a German stock exchange and will only be admitted to trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange in the further course of 2020 on the basis of a securities prospectus that has yet to be drawn up.
With the issue proceeds from the capital increase, windeln.de intends to strengthen the company's liquidity position in order to cover the company's currently still negative cash flow until break-even is reached on the basis of adjusted EBIT. In addition, projects such as the outsourcing of the IT shop platform and the relocation of the central warehouse in Germany are to be realized and the expansion of net working capital necessary for growth in China is to be financed.
CFO Dr. Nikolaus Weinberger comments on the successful capital increase: "With the capital increase, we are strengthening our capital base and can make targeted investments in efficiency projects and growth in China. In addition, the measure shows the potential that our investors see in the business model and the market."