Answear.com plans to launch SOP on Wednesday, October 25

Answear.com, a leading e-commerce offering fashion and home&lifestyle products in the Central and Eastern European region, plans to launch an offering of L series shares on October 25 as part of a public offering exempt from the obligation to publish a prospectus. The shares will be offered with the exclusion of pre-emptive rights for existing shareholders. No later than October 27 at At 9:00, the issue price was scheduled to be determined based on the results of the book-building process, with the maximum amount set at PLN 29 per share. The funds raised will be allocated to the development of the PRM brand.

The Management Board of Answear.com adopted a resolution specifying the detailed rules for the subscription of series L shares and the expected transaction schedule. The structure of the offer provides for priority rights for the Company's shareholders. The pre-emptive right will entitle the investor to take up shares in the offer before other investors, in a number enabling them to maintain their share in the share capital at the level as at the date specified in the resolution, with the possibility of taking up additional shares as part of the offer.

Additionally, qualified investors selected by the Company, investors purchasing shares with a total value of at least EUR 100,000 and individual investors in a number that will not trigger the obligation to publish a prospectus will be able to participate in the offer.

Forum X, which is affiliated with the Company's Chairman of the Board Krzysztof Bajołek, plans to take part in the offering and subscribe for L-series shares in a number that will at least maintain Forum X's current level of involvement in the Company's share capital and total number of votes.

The maximum price has been set at PLN 29 per share, which means that the maximum value of the issue can amount to PLN 29 million.

- The funds obtained from the issue will be allocated to the development of the PRM brand. We plan to increase our product offer, open and develop operations in new markets, and make marketing investments related to acquiring new customers and rebranding. All this is aimed at ensuring long-term growth and building the value of Answear.com and PRM - adds Jacek Dziaduś, Vice-President of the Management Board for Finance of Answear.com.

The company is supported by mBank in implementing the transaction. Each investor wishing to participate in the offer should conclude an appropriate agreement for accepting and transmitting orders from mBank.

The Issuer's legal advisor in the transaction is CK LEGAL Chabasiewicz Kowalska i Wspólnicy S.K.A.

 

Planned schedule of the Answear.com Offer:

October 25, 2023 at 9:00	Start of the book-building process.
October 26, 2023 no later than 23:59	Completion of the book building process.
No later than October 27, 2023 at 9:00	Determining the issue price.
November 3, 2023	End of subscription and confirmation of payments from investors

 

The dates for the Offer, specified in the Schedule, may change. If the dates of the Offer are changed, the Company will make the modified Schedule public.