Waga Energy: launches a capital increase

(CercleFinance.com) - Waga Energy announces the launch of a capital increase with cancellation of shareholders' preferential subscription rights, reserved for certain categories of beneficiaries, for a total minimum amount of 45 million euros.


The offering includes investments from Air Liquide Investissements d'Avenir et Démonstration (ALIAD), Noria, Starquest, VOL-V, CMA-CGM and Tertium Croissance, the historical shareholders, and Enowe, who have signed subscription commitments.

The Company has received irrevocable subscription commitments for a total amount of 18.3 million euros. The accelerated bookbuilding is starting immediately and is expected to be completed before the opening of the regulated market of Euronext Paris on March 21, 2024, subject to early closing.

Waga Energy is experiencing a significant acceleration in its growth, particularly in North America, and intends to use the net proceeds of the Offer to finance the equity share of capex for new projects and the prefabrication and manufacture of WAGABOX(c) units to support its international growth.

With the net proceeds of the Offering, together with other non-dilutive sources of financing, including corporate debt, the Company expects to be able to finance the capex required to achieve its sales target of ?200 million in 2026.

Mathieu Lefebvre, Chairman and CEO of Waga Energy, comments: "We currently have 20 units in operation, 13 more under construction, and around 160 projects under active development worldwide, half of which are in the United States, where we have just started up our first unit. This financing will enable us to seize opportunities in this strategic market, where we have won numerous tenders in recent months. '

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