Netex has signed a financing agreement with Inveready, a leading asset manager in Spain, for the issuance of Netex convertible bonds of up to EUR 3 million (EUR 3,000,000) at a price of EUR 3.5 per share maturing on 31 December 2026.
These funds will give a new boost to the expansion strategy that the company has been following since its IPO.
We have a great opportunity for growth, our products are already being used in more than 30 countries and now we have to give a new boost that will allow us to enter new countries, expand our channel partner network and accelerate the acquisition initiatives.
Carlos Ezquerro
Netex’s CEO
The characteristics of the issue include the division of the amount into two tranches of one million five hundred thousand euros (1,500,000 euros) each, a first tranche in a single immediate disposition, once the appropriate procedures have been completed, and then the second tranche available throughout 2021 at the discretion of Netex.
Rubén González, director of the fund, comments: “After COVID-19, we refocused our investment strategy on those sectors that were enhancing their added value in the new context. Digital education was a key sector for us and Netex was a company with the capacity to lead the change in that sector”.
Inveready is a fund with a long history in the market, which invests in technology-based companies, especially in BME Growth companies. With more than 20 successful IPOs under its belt, some of its portfolio companies are listed on the IBEX 35, NASDAQ and MAB, which are now joined by Netex.
