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

 In 2020

Munich, February 17, 2020: windeln.de SE ("windeln.de" or "Company") announces the completion of the capital increase. The share capital will be increased against cash contributions from currently EUR 2,989,101.00, divided into 2,989,101 no-par value bearer shares, by EUR 5,171,144.00 by issuing 5,171,144 new shares, each representing a pro rata amount in the share capital of EUR 1.00 per share and with dividend entitlement starting January 1, 2019 ("New Shares"), to EUR 8,160,245.00. The subscription price was set at EUR 1.20 per New Share, so that the gross proceeds of the capital measure amount to EUR 6,205,372.80.
980,081 New Shares were subscribed by shareholders by exercising their subscription rights at a ratio of 1:1.73 and additional subscription rights in the subscription period of the capital increase from January 23, 2020 to February 5, 2020. 4,191,063 New Shares which were not subscribed by shareholders via subscription rights or for which existing shareholders agreed to not exercise their subscription rights in advance, were placed in a private placement.
The capital increase was fully placed. The two existing major shareholders, Summit Asset Management Company Limited and Pinpoint International Group Limited, have participated in the private placement. In addition, a new major Chinese investor, Youth Pte. Ltd., and the companies Holland at Home B.V. and bodyguardpharm GmbH ("Bodyguard") also participated in the private placement.
The New Shares with ISIN DE000WNDL219 / WKN WNDL21 are expected to be delivered to the shareholders with a value date as from February 26, 2020 as shares that are not admitted to trading on the regulated market. In the further course of 2020, the New Shares are first to be included in the open market of a German stock exchange and, at a later stage, on the basis of a securities prospectus that is still to be prepared, to be admitted to trading on the regulated market of the Frankfurt Stock Exchange (Prime Standard).
With the gross issue proceeds from the capital increase, windeln.de intends to strengthen the Company's liquidity position in order to cover the Company's still negative cash-flow until reaching break-even on the basis of adjusted EBIT. Furthermore, the Company intends to realize important projects such as outsourcing the IT shop platform and the move of the central warehouse in Germany and to finance the build-up of net working capital necessary for growth in China.
Dr. Nikolaus Weinberger, CFO, comments the successful capital increase: “With the capital increase we are strengthening our capital base and can specifically invest in efficiency projects and growth in China. The measure also shows the potential that our investors see in the business model and the market.”

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