MapsPeople A/S | Admission to trading on First North
MAY NOT BE PUBLISHED, DISTRIBUTED, OR SUPPLIED ORIN PARTICULAR, DIRECTLY OR INDIRECTLY, IN OR TO THEUSA, AUSTRALIA, CANADA, OR JAPAN.
This announcement does not constitute an offering circular, Prospectus, or other offer document. No one should purchase or subscribe for any securities in MapsPeopleA/S ("MapsPeople" or the "Company") except on the basis of information in the Prospectus published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North PremierGrowth Market Denmark ("First North"), which is available on the Company's website.
Company Announcement No. 1-2021
MapsPeople has applied for admission to trading onNasdaq First North Premier Growth Market Denmark and offers 12,500,000 new shares (the "Offer Shares") of nominallyDKK 0.02 each (the "Offering"). MapsPeople has published a Prospectus (the "Prospectus") in connection with theOffering, which is available on the Company's website.
The offer period runs from 7 May 2021 to 25 May 2021. The offer price is DKK 6.80 per Offer Share, corresponding to a pre-money valuation of the existing shares of approx.DKK 285 million. The size of the Offering is DKK85 million, of which DKK 50 million has been pre-subscribed before the offer period opens.
REASONS FOR THE OFFERING
MapsPeople intends to list on First North to significantly accelerate MapsPeople's planned sales and growth strategy for the indoor mapping and navigation platform MapsIndoors. MapsPeople holds a strong market-leading position, and with the proceeds from the Offering, MapsPeople will be able to reinforce the market-leading position. The Capital raised in the Offering will primarily be invested into three key operational areas: product development, market expansion, and increased marketing.
FINANCIAL EXPECTATIONS
MapsPeople strategically focuses on expanding theMapsIndoors platform and expects to grow ARR from DKK 30 million in May 2021 to DKK 174 million in December 2023, corresponding to a yearly ARR growth rate of approximately 100%.
ABOUT MAPSPEOPLE MapsPeople is an indoor mapping SaaS company and a Google Premier Partner. MapsPeople intends to list on Nasdaq First North Premier Growth Market to expand its market-leading solution, MapsIndoors. MapsIndoors helps employees find a desk or colleague in a large corporate office, assist guests navigate to their seats at stadiums, display vacant parking lots, or avoid long queues. With the MapsIndoors solution, employee productivity is improved, fan experience reaches new levels, and passengers do not miss flights or trains.
SUMMARY OF THE OFFERING
- The expected gross proceeds for the Company are DKK85 million before transaction costs.
- The Offering consists of 12,500,000 new Offer Shares of nominally DKK 0.02 each.
- The offer price is DKK 6.80 per share of nominally DKK 0.02, corresponding to a pre-money valuation of the existing shares of MapsPeople before the offer of approx. DKK 285 million.
- The offer period runs from 7 May 2021, 9:00 a.m. CET, to 25 May 2021, 23:59 p.m. CET.
- Publication of the result of the Offering is expected to take place on 27 May 2021, and the first trading day is expected to be 2 June 2021.
- The number of existing shares before the issuance of the Offer Shares is 41,975,800.
- Pre-subscribers have subscribed for DKK 50 million.Pre-subscribers are BankInvest, Vækstfonden, existing minority shareholders, members from the Board of Directors, and the Management.
- No existing shareholders sell shares in the Offering.Existing major shareholders MapsPeople DK Holding ApS and Vækstfonden are subject to lock-up until after the publication of the financial report for H1 2022. After the expiry of the initial lock-up, the existing shares are released from lock-up in five installments of equal size at the end of each subsequent quarter.
SUBMISSION OF SUBSCRIPTION ORDERS
The Offer Shares can be subscribed for by submitting an electronic subscription order via the investor's own account-holding bank or by submitting a subscription form to the investor's own account-holding bank. The subscription form is included in the Prospectus available on the Company's website. The minimum subscription is 555 Offer Shares corresponding to DKK 3,774.00 per subscription order.
Publication of the results of the offer is expected to take place on 27 May 2021.
ISIN CODE AND SYMBOL
The Company has one share class.
The Offer Shares will be delivered electronically against payment under temporary ISIN code DK0061549136 to investors' accounts with VP Securities A/S.
The temporary ISIN will not be admitted to trading on Nasdaq First North Growth Market Denmark. The temporary ISIN code, DK0061549136, will be merged with the permanent ISIN code, DK0061549052, which is expected on 3 June 2021. The shares of MapsPeople will be traded under the ticker symbol "MAPS".
PROSPECTUS
The Prospectus, investor brochure, and two-pager are available on MapsPeople's website www.mapspeople.com/investors. The Prospectus is also available as a link at the bottom of this announcement.
ADMISSION TO TRADING
The Offer Shares and the existing shares of MapsPeople are conditionally approved for admission to trading on Nasdaq First North Premier Growth Market Denmark, subject to completion of the Offering and fulfillment of Nasdaq First North Growth Market's requirements for shareholder distribution and free float. The first trading day for the shares on Nasdaq First North Premier Growth Market Denmark is expected to be 2 June 2021.
PLACEMENT
Grant Thornton acts as financial advisor and Certified Adviser in connection with the Offering. Danske Bank acts as a settlement and issuing agent. Nordnet acts as selling agent in Denmark.
CONTACT INFORMATION
MapsPeople A/S:
Michael Gram, CEO
Mobile (+45) 53 74 09 00
Email mg@mapspeople.com
Stigsborgvej 60, 9400 Nørresundby
Certified Advisor:
Grant Thornton
Jesper Skaarup Vestergaard
Mobile (+45) 31 79 90 00
Grant Thornton, Stockholmsgade 45, 2100 Copenhagen Ø, Denmark
IMPORTANT INFORMATION
This announcement is not an offer to sell or a solicitation of any offer to buy any securities issued by MapsPeople A/S in any jurisdiction where such offer or sale would be unlawful and the announcement and the information contained herein are not for distribution or release, directly or indirectly, in or into such jurisdictions, including but not limited to, the United States, Australia, Canada or Japan.
This announcement does not constitute an offering circular, Prospectus or other offer document and nothing herein contains an offering of securities. No one should purchase or subscribe for any securities in MapsPeople A/S except on the basis of information in the company description published by the Company in connection with the Offering and admission of such securities to trading on Nasdaq First North Growth Market Denmark ("First North"), which is available on the Company's website.
Neither the existing shares of MapsPeople A/S nor the Offer Shares have been, or will be, registered under the United States Securities Act of 1933, as amended ("SecuritiesAct"). Neither the existing shares nor the OfferShares may be offered or sold, directly or indirectly, in or into the United States or to persons residing there. Moreover, the Offering is not made to persons resident in Australia, Hong Kong, Japan, Canada, New Zealand, South Africa, Switzerland, or Singapore or to persons whose participation would require the publication of a prospectus, registration or other measures. Any application to subscribe for the OfferShares in violation of these restrictions may be void. Persons who receive copies of this announcement are required to inform themselves about, and comply with, such restrictions. Any failure to comply with the restrictions described may result in a violation of securities regulations.
Certain statements in this announcement constitute forward-looking statements. Forward-looking statements are statements (other than statements of historical fact)relating to future events and the Company's anticipated or planned financial and operational performance. The words "targets", "believes", "expects", "aims", "intends", "plans", "seeks", "will", "may", "might", "anticipates", "would", "could", "should", "continues", "estimates" or similar expressions or the negative forms thereof, identify certain of these forward-looking statements. Other forward-looking statements can be identified in the context in which the statements are made. The Company has based these forward-looking statements on its current views with respect to future eventsand financial performance. By their nature, forward-looking statements are based on certain assumptions and projections on future events and financial performance, which involve a number of risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements.These risks, uncertainties and assumptions could adversely affect the outcome and financial consequences of the plans and events described herein. Actual results are likely to differ from those set forth in the forward-looking statements. Any forward-looking statements speakonly as at the date of this document and neither the Company nor any of its respective affiliates, directors, officers, employees, advisors, or any other person is under any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You should not and may not rely on these forward-looking statements.
May 7, 2021
