Results of the initial public offering of Grab2Go AS shares
The initial public offering of the shares of Grab2Go AS (registry code 16014547 hereinafter Grab2Go) ended on 6th June 2023.
Up to 992,000 shares were publicly offered, whereas Grab2Go reserved the right to increase the number of shares on offer by 10% up to the total of 1,091,200 shares. During the offering, 872 investors subscribed for a total of 282,991 shares for EUR 342,419.11, meaning that the planned volume of the offer was not filled.
“Despite the lower-than-expected capital raised, we continue to move towards our strategic goals at a more leisurely pace. Cooperation with customers is ongoing and we hope to bring positive news soon. We thank all investors who have contributed to our company - our commitment to the continued growth and development of the company remains unchanged. At the same time, it must be admitted that raising capital has been more difficult than expected in the given market situation, and raising awareness of our product and service could have been better in the process of raising capital. Awareness, however, can only get better now, because we are a public company” commented the management board member of Grab2Go Mart Viilipus.
The revenue from the offering shall be used by Grab2Go according to the company description for increasing its production and sales capabilities and for some product development.
Upon distributing the new shares all shares subscribed for by the investors shall be distributed to the investors.
The settlement of the offering is intended to take place on or about 12 June 2023. The shares of Grab2Go are planned to be admitted to trading on the multilateral trading facility First North, the first trading day will be on or about 13 June 2023.
For additional information please contact:
Reio Orasmäe
Chief Sales Officer and co-founder
Contact: reio@grab2go.eu; 56877090
Mart Viilipus
Member of the management board of Grab2Go
Contact: mart@grab2go.eu; 53053173
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