SENVION lance une augmentation de capital

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Senvion announces launch of cash capital increase
Further equity to add flexibility and support significant growth in new markets by 2019

Hamburg: Senvion S.A. today announced the launch of an accelerated book-building to implement a capital increase for cash of approximately EUR 62.5 million, under exclusion of shareholders’ preemptive rights. Senvion intends to use the net proceeds in particular to capture growth opportunities and to fund its expansion in new markets, such as India, with incremental capital that enhances Senvion ability to provide support for working capital and capital expenditures and seize opportunities for strategic co-development projects.

Manav Sharma, acting Chief Executive Officer and Chief Financial Officer at Senvion, said: « We have seen almost 400% order increase in new markets year-over-year and we expect 20-40% revenue growth in 2019. We are meeting or even exceeding our own market share targets in key regions. We see that we can capture even further potential in these markets by providing support in terms of enhanced production capacities, working capital flexibility and creating optionality via strategic co-investments. The commitment of Senvion’s main shareholders minimizes the placement risk and furthermore reflects their strong belief in the sustainable growth of the company. »

The new shares will be offered exclusively to institutional investors by way of an accelerated book-building. Joh. Berenberg, Gossler & Co. is acting as sole book-runner in connection with the
EUR 62.5 million committed placement of new shares yielding gross proceeds of EUR 25 million by way of a backstop obligation.

Senvion’s major shareholders, affiliates of funds managed by Centerbridge Partners, have agreed to purchase new shares in the Offering yielding gross proceeds of EUR 37.5 million at the placement price.

Senvion has significantly increased its activity in new markets like India, Australia, Spain and South America.