Joby Aviation closes $591 million stock offering with full underwriter option
LONDON - Bock Capital EU Luxembourg WAG S.à r.l., an affiliate of TA Associates Management, L.P., announced today its intention to sell approximately £50 million worth of ordinary shares in W.A.G Payment Solutions PLC, also known as Eurowag.
The sale will be conducted through an accelerated bookbuild to institutional investors, according to a press release statement. The bookbuild was launched immediately following the announcement and could close at short notice.
The selling shareholder currently owns 179,505,764 shares in Eurowag, representing approximately 25.9 percent of the company’s issued share capital. Following the sale, the shareholder has agreed to a 90-day lock-up period during which it will not sell or dispose of its remaining shares, subject to certain exceptions.
Peel Hunt LLP has been appointed as the sole bookrunner for the transaction. The timing for closing the bookbuild process and distribution of allocations will be at the discretion of the bookrunner.
Eurowag itself is not a party to the placing and will not receive any proceeds from the transaction. The results of the placing will be announced after completion.
The shares are being offered only to qualified investors in the European Economic Area and the United Kingdom, in accordance with applicable securities laws. The placing shares have not been registered under the United States Securities Act of 1933 and are not being offered to the public in the U.S. or any other jurisdiction.
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