Answear.com has successfully completed its share offering and will raise PLN 29 million

Answear.com, a leading e-commerce offering fashion and home&lifestyle products in the Central and Eastern European region, successfully conducted an offering of series L shares. The company placed all shares at the maximum price of PLN 29, which means raising PLN 29 million. Answear.com will spend its funds on the development of the PRM brand.

- We are pleased with the positive completion of our equity offering. We managed to place all shares at the maximum price. There was great interest, so we would like to thank all investors for their trust, appreciation of our business and the opportunity to develop Answear.com together. I deeply believe that the funds raised invested in the PRM brand will significantly influence the further dynamic development of our business - comments Krzysztof Bajołek, president of the management board of Answear.com.

Takeover of the PRM brand at the turn of the first and second quarter of this year. significantly strengthened the position of Answear.com as one of the leading entities in the fashion e-commerce industry operating on the markets of Central and Eastern Europe. Additionally, the Company has opened up to a new, extremely attractive segment of premium sneakers & streetwear, thanks to which it reaches a new group of customers, in particular representatives of Generation Z and Alpha.

- The transaction is being carried out as planned. Currently, we are just waiting for the registration of the share capital increase in the National Court Register and the admission of the new shares to trading on the WSE. In a short time, without the need to prepare a prospectus, we managed to obtain PLN 29 million from the market. Later this year, we will take the first actions aimed at developing the PRM brand. The funds raised will be used to expand the product offer, open and develop operations in new markets, as well as marketing expenses - adds Jacek Dziaduś, Vice-President of the Management Board for Finance at Answear.com.

Pursuant to the placement agreement, mBank is responsible for organizing and conducting the offering of series L shares. The Issuer's legal advisor in the transaction is CK LEGAL Chabasiewicz Kowalska i Wspólnicy S.K.A.