XTPL successfully completes the issue of shares
- XTPL acquired PLN 9.25 million as a result of shares issue. At the same time the company carries out the process of obtaining financing from the issue of convertible bonds up to a maximum amount of PLN 3.6 million.
- Both Polish and foreign investors took part in the private placement issue, as well as the Founder and CEO of XTPL Dr Filip Granek.
- The proceeds from the share issue will allow to continue the commercialization of XTPL technology as well as will allow to strengthen the protection of the company’s intellectual property.
On June 8, the General Meeting of Shareholders adopted a resolution regarding an increase of the share capital of XTPL by issuing series T shares by means of private subscription. The issue price was set by the Company’s Supervisory Board at PLN 74 per share. The company will allocate the funds, among others, to accelerate development of technology and its commercialization. The funds will also be used for development of the company’s patent portfolio.
Investors took up 125,000 new shares, i.e. the maximum amount available. The pool of 125,000 shares was increased from the initial limit of 42,000 shares due to significant investors interest in the company’s operations.
Therefore XTPL obtained PLN 9.25 million as a result of the issue of shares. At the same time, as agreed by the General Meeting of Shareholders of June 8, the company carries out the process of obtaining financing from the issue of convertible bonds to a maximum value of PLN 3.6 million.
– We are pleased with the significant support of investors for the company’s ambitious commercialization plans. We are pleased even more with the trust and support of investors during the pandemic. Our shareholders ACATIS and Deutsche Balaton from Germany took part in the current financing round and so did I personally. We are very happy that the investment funds managed by Rockbridge TFI also took part in the new financing round. Thanks to proceeds from the share issue the Company has funds available for continuing commercialization processes and opening new application fields by at least the first quarter of 2022 – emphasizes Dr Filip Granek, CEO of XTPL.
Commercialization of XTPL technology takes place in the broadly understood sector of printed electronics including use in displays, semiconductors or intelligent glass. The experience gained by the Company which is the result of intensive business activities has allowed to properly define the needs of the mentioned industry areas and propose innovative solutions based on the Company’s technology.
Thanks to the investors’ trust the Company can continue to achieve its goals that will lead to the commercialization of technology on a global scale. Processes planned by the Company that require significant financing may now significantly accelerate.