ELARIS AG: New Shareholder Structure
Bad Dürkheim, April 22, 2024
The Management Board of ELARIS AG (the "Company", ISIN: DE000A37FT17) announces that the Company has entered into an agreement with a group of investors (the "Investors") to sell a total of 10,000,000 shares (the "Shares") in the Company. The Shares represent approximately 10% of the Company's issued and outstanding share capital.
The sale of the Shares is part of the Company's ongoing efforts to strengthen its financial position and to provide the Company with the necessary resources to continue its growth strategy. The proceeds from the sale of the Shares will be used to fund the Company's operations and to invest in new growth initiatives.
The Investors are a group of experienced investors with a track record of success in the automotive industry. The Investors have expressed their confidence in the Company's management team and its long-term growth prospects.
The sale of the Shares is subject to customary closing conditions and is expected to close in May 2024. Following the closing of the sale, the Investors will become the largest shareholder in the Company, with a stake of approximately 10%.
Conclusion
The sale of the Shares is a significant milestone for ELARIS AG. The transaction will provide the Company with the necessary resources to continue its growth strategy and to strengthen its financial position. The Company is confident that the Investors will be valuable partners in the Company's future success.
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