BALYO Completes €7.8M Capital Increase.pdf

The Company announces the completion of a capital increase by private placement, raising €7.8 million. The funds will primarily be used to accelerate the commercial ramp-up of the latest generation of robots in 2022, as well as additional R&D expenses related to the implementation of the roadmap of new solutions. The Company also specifies that its available cash position prior to the launch of the transaction is sufficient to cover its financing needs for the year 2021. The Primary Offering resulted in the issuance of 4,885,089 new ordinary shares, representing 16.7% of the Company's current share capital, at a price per share of €1.25. The new shares will rank for dividend immediately and will be admitted to trading on the regulated market of Euronext Paris under the same ISIN code FR0013258399 BALYO. The Company has signed an abstention agreement for a period of 180 days from the settlement-delivery date of the Offer, subject to customary exceptions. The funds managed by Seventure Partners will continue to support the development and growth of the Company, having committed to holding their residual stake for a minimum period of 15 months from the date of completion of the transaction.