Between December 10 and 13, 2019, the company carried out a private placement whereby it attracted RON3.89 million from investors, via a bond issue with a four-year maturity and a fixed annual interest of 9% payable on a half-yearly basis.
Within the private placement, Artprint issued 38,902 bonds, with a face value of RON100 per bond, which were bought by 50 investors, of which 47 natural persons and three legal entities.
Artprint will use the funds attracted to finance the investment program, to restructure the capital financing and to finance the working capital. Beyond the financial strategy perspective, the strategic objective of this investment is to test investors’ appetite for Artprint business, to validate the company’s value by the market and to increase it in order to prepare the listig of Artprint shares.
Artprint ended 2019 with revenue of RON35 million, up 43% versus 2018, and an EBITDA of RON2.1 million, up 38% versus 2018.
The company has a share capital of RON1.01 million, divided into 101,010 shares with a nominal value of RON10 per share. The sole administrator of the company, Cezar-Alexandru Rasuceanu, holds 99% of the share capital, and Constanta Rasuceanu holds 1% of the shares.