Netweek SpA Enters Into an Agreement With LDA Capital for the Subscription of a Capital Increase EUR 2 Million
Netweek SpA(ntw : im ) (the “Company” or “Netweek”), listed on the MTA market, organized and managed by the Borsa Italiana, is pleased to announce that it has entered into a binding Put Option Agreement (“Agreement”) with LDA Capital Limited ("LDA “) And LDA Capital LLC (“ LDA LLC “), a global alternative investment group. The Agreement gives the Company the right to subscribe, by LDA, newly issued shares from Netweek for a maximum of 2.0 million euros. This equity commitment will be utilized at the Company’s discretion over the next 36 months to strengthen Netweek’s balance sheet and financial structure, support its digital and online expansion, and provide fresh capital as Netweek looks to emerges from the COVID-19 pandemic.
Under this agreement, Netweek has the right, but not the obligation, to draw down capital as required. The Company will control the timing and amount of capital drawn down under this Agreement. This method of fundraising provides management with a flexible financing tool and allows the Company the ability to deploy cash on an as-needed basis rather than fully diluting existing shareholders.
LDA Capital will also be given warrants to be issued for a maximum amount of 7 million common shares of Netweek at an exercise price of 0.11 euros per share, exercisable any time during the term of the Agreement. This represents a maximum value of 0.77 million euros of additional funding, equal to a 38% premium on the closing of January 8th, 2021 and 34% higher than the average of the last 30 trading days.
The CFO of Netweek SpA, Mr. Massimo Cristofori, said:
“ I am particularly proud of this agreement with a partner like LDA Capital which once again demonstrates Netweek’s ability to identify innovative capital solutions , especially in a difficult financial environment whereby institutional funding is harder to come by.
With these incremental financial flows of capital , Netweek will be in a position to grow within the digital space while strengthening its assets along the way ”
The Managing Partner of LDA Capital, Mr. Anthony Romano, said:
“The global pandemic has significantly caused a shift towards online media, seeing an increase in online news consumption, social networking, and online public services. Due to this shift to a virtual news platform from traditional newspaper, LDA sees tremendous opportunity in supporting versatile managers and growth-oriented companies like Netweek to overcome these consumer shifts and emerge as a stronger player in the publishing space.
Through our flexible capital solutions, LDA is pleased to assist an established online media group such as Netweek as it seeks to push ahead with its newly approved busines plan, as it adapts to these new online consumer demands.”
About LDA Capital
LDA Capital is a global alternative investment group with expertise in complex, cross border transactions worldwide. Our team has dedicated their careers to international & cross border transactions having collectively executed over 200 transactions in both public and private markets across 43 countries with aggregate transaction values of over US$10 billion. For more information, please visit: www.ldacap.com; For inquires please email:firstname.lastname@example.org.
About Netweek SpA
The Netweek Group is the Italian leading company in hyper-local information and aims to become the reference interlocutor of the small and micro enterprises of Northern Italy through an offer of calibrated and personalized means of communication.
The Netweek Group publishes 58 local edition and 40 news sites , with over 700,000 weekly readers and 30 million page views per month. For inquiries please email : email@example.com
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Visa’s Mission to Digitally Enable Small Businesses Gains Momentum Across Europe1.3.2021 10:00:00 CET | Press release
Visa (NYSE: V) today announced more than 100 partners across Europe have joined the Where You Shop Matters initiative to help small business owners build digital capabilities and continue serving their communities. More than two million small firms across Europe have received support since the launch of the program in summer 2020. The announcement marks a major milestone in Visa’s commitment to help eight million small and medium sized businesses (SMBs) in Europe – and 50 million globally - to get online, adapt and future proof their business. Across Europe, Covid-19 continues to have a devastating impact on small businesses. Research conducted by Visa revealed that 65% of small businesses are concerned about the future of their business.1 With many having to operate under restrictions and lockdowns, small businesses are increasingly moving their operations online and embracing digital payments. Visa data shows that over 10 countries in Europe have seen a 20% increase in online sales a
Northern Trust Asset Management’s FlexShares ® Enters European ETF Market1.3.2021 10:00:00 CET | Press release
Northern Trust Asset Management’s FlexShares Exchange Traded Funds today announced the launch of two climate focused exchange traded funds (ETFs): the FlexShares® Developed Markets Low Volatility Climate ESG UCITS ETF (QVFD) and the FlexShares® Developed Market High Dividend Climate ESG UCITS ETF (QDFD). The Funds represent FlexShares’ first ETFs available in Europe, with additional funds planned to launch in the coming months. “We’re pleased to present the first FlexShares products in Europe, which reflect Northern Trust Asset Management’s three decades of experience in managing sustainability-focused investment strategies,” said Marie Dzanis, head of Europe, Middle East and Africa (EMEA). “Actively designed with the transparency of indexing, these two ETFs are built specifically to fit within EMEA investors’ evolving needs to help manage portfolio volatility and deliver income in a low yield environment while doing so with a focus on quality.” Both strategies will utilize Northern Tr
Effissimo Releases Presentation Explaining Proposal to Appoint Independent Investigators at Toshiba1.3.2021 08:00:00 CET | Press release
Effissimo Capital Management (“Effissimo”), the largest shareholder of Toshiba Corporation (“Toshiba”) (TYO:6502) through the funds it manages, today released a presentation explaining the reasons behind its proposal for an independent investigation into reported irregularities surrounding Toshiba’s July 2020 Annual General Meeting of Shareholders (“AGM”). Effissimo’s proposal will be voted on by Toshiba’s shareholders at an extraordinary shareholders meeting scheduled for March 18, 2021. The full proposal in English can be found here. Supplementing its letter to shareholders dated February 24, 2021, Effissimo’s presentation explains its proposal for an independent investigation into the irregular handling of shareholder voting and shareholder pressure at the closely contested AGM, which Toshiba’s conflicted Audit Committee’s self-audit fails to address. The presentation provides data showing discrepancies in the claimed delivery times of mailed ballots said by Toshiba’s vote tabulator
Mobidiag Receives CE-IVD Marking for Amplidiag ® RESP-4 for Simultaneous Detection of COVID-19, Flu A, Flu B and RSV1.3.2021 07:00:00 CET | Press release
Mobidiag Ltd. today announces that it has received CE-IVD marking for its https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmobidiag.com%2Fproducts%2Famplidiag%2F%23ad-resp-4&esheet=52387757&newsitemid=20210228005031&lan=en-US&anchor=Amplidiag%26%23174%3B+RESP-4&index=1&md5=0cd23e123f09386349b0cce93993cf54 Amplidiag® RESP-4 molecular diagnostic test for the rapid and simultaneous detection of some of the most prevalent respiratory viruses: SARS-CoV-2 (responsible for COVID-19 infection), Influenza A, Influenza B and RSV. These viruses present similar symptoms, making it difficult for physicians to determine accurately which virus a patient has. The https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fmobidiag.com%2Fproducts%2Famplidiag%2F%23ad-resp-4&esheet=52387757&newsitemid=20210228005031&lan=en-US&anchor=Amplidiag%26%23174%3B+RESP-4&index=2&md5=464a0549cf8a17c939d070d2af83d1a7 Amplidiag® RESP-4 assay can rapidly and simultaneously determine an accurate
CLH Evolves to Exolum, the Company’s New Global Brand1.3.2021 06:00:00 CET | Press release
Exolum is the new brand name chosen by the CLH Group from now on to face its ambitious objectives for the future, focused on adapting its business to decarbonisation and the energytransition, the digitalisation of its activities and the fight against climatechange. This rebranding is due to the need to adapt to the new environment and to transform the company itself which, in addition to carrying out oil product storage and transport activities in Spain, has embarked on an international growth process and is now present in 7 othercountries. The group has expanded its activity to the storage, management and transportation of liquid products, especially chemical products, operating in new sectors, such as eco-fuels, the circulareconomy and the development of new energyvectors. The new name, simple but modern, shows a spirit where innovation is the key. The Exolum brand was originally devised as the CLH Group subsidiary dedicated to entrepreneurship and innovation. However, after several
CGTN: What Are Generations of Chinese Communists Striving For?27.2.2021 16:36:00 CET | Press release
The Communist Party of China (CPC), the ruling party of the world's most populous nation and the second largest economy, is turning 100 this year. What has been motivating the CPC to fight against one challenge after another over the past century? This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210227005021/en/ "The original aspiration and the mission of Chinese Communists is to seek happiness for the Chinese people and rejuvenation for the Chinese nation," General Secretary Xi Jinping of the CPC Central Committee said in his report to the 19th CPC National Congress in October 2017. "This founding aspiration, this mission, is what inspires the Chinese Communists to advance," Xi said. Self-discipline, selflessness In March 2018, Xi, also the Chinese president, further explained the cause pursued by the CPC with a quote from an ancient poem: "A virtuous person is as sharp-sighted as a clear mirror hanging high, a selfless perso
Colicity Inc. Announces Closing of $345 Million Initial Public Offering26.2.2021 23:00:00 CET | Press release
Colicity Inc. (the “Company”) announced the closing today of its initial public offering of 34,500,000 units, including the underwriters’ exercise of their full over-allotment option for 4,500,000 units, at a price of $10.00 per unit. The units are listed on the NASDAQ Stock Market (NASDAQ) and began trading under the ticker symbol “COLIU” on February 24, 2021. Each unit consists of one Class A share and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one Class A share at a price of $11.50 per share. Only whole warrants will be exercisable. Once the securities comprising the units begin separate trading, the Class A shares and warrants are expected to be listed on the NASDAQ under the symbols “COLI” and “COLIW,” respectively. Colicity Inc. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The Company int
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.Visit our pressroom