Great success of € 5 million capital increase through a placement to qualified investors

VOGO (ISIN code: FR0011532225 – Ticker: ALVGO) is today announcing the great success of its capital increase without shareholders’ preferential subscription rights for a final amount of €5 million, through placement made to qualified investors (the “Offer”) by way of a bookbuild. The order book was largely covered, based on sustained demand from new and existing institutional investors, for a total amount of €5,6 million.

The Offer resulted in the issuance of 530.223 new ordinary shares, representing 14,91% of the Company’s current share capital, and a total fund raising of €5.000.002,89. The subscription price was €9,43 (issue premium included), representing a discount of 19,95% compared to the average value of the VOGO share price on the Euronext Growth market in Paris weighted by volume observed over the last five trading sessions prior to the price being set.

Following the Offer, the Company’s new share capital now comprises 4.086.933 shares with a par value of €0.125 per share. Based on the Company’s cash position (€6,860 million at 30 June 2020), and its forecast revenues and provisional expenses, the funds raised as a result of the Offer should enable the Company to successfully achieve its strategic objectives.

Christophe Carniel, Chairman and Chief Executive Officer, commented on the operation:

“We would like to thank our long-standing shareholders for participating in this fund raising, which demonstrates their dedication and confidence in the Company and its projects and we are delighted to welcome VOGO’s new investors.”