(Teleborsa) – Digital Magics – business incubator listed on the AIM Italia market – announced the period of the offer in option of thecapital increase of up to 8 million euros aimed at supporting the 2021-2025 Business Plan. The BoD has established that the option rights for the subscription of the newly issued shares will be exercisable, under penalty of forfeiture, in the offer period between 27 September 2021 and 15 October 2021 inclusive. The option rights will be tradable from 27 September 2021 to 8 October 2021 inclusive.
The 2021-2025 Business Plan provides for theexpansion of the equity portfolio from the current 73 (as of December 31, 2020) to more than 200 startups, with a value target of over 100 million euros by 2025 (net of planned exits and write-offs) with an increase of 100% compared to current valuation prepared by management (equity value estimated at 50 million euros).
The unit subscription price and the option ratio, and consequently the maximum number of new Digital Magics ordinary shares that will be issued and the maximum total value, will be determined and communicated by the board of directors near the start of the offer period.
At the end of today’s meeting of the BoD, Laila Pavone, managing director of Innovation, Marketing and Communication, gave his own resignation consistently with the choice to accept the candidacy for Mayor of Milan in the upcoming administrative elections.