Solocal Launches Capital Increase with Preferential Subscription Rights

French company Solocal, based in Boulogne-Billancourt, announced a capital increase with shareholders' preferential subscription rights (PSR), aiming to raise approximately €18 million. This move is part of its financial restructuring plan.

The unit subscription price is set at €0.003 per new share, with a subscription parity of 91 new shares for every 2 existing shares. The PSR trading period will run from 5 to 22 July 2024, while the subscription period for new shares spans from 9 to 24 July 2024. Ycor, controlled by Maurice Lévy's family, and Backstopping Bondholders guarantee 100% of the gross amount of the transaction.

This financial move follows the approval of an Amended Accelerated Financial Safeguard Plan by the Nanterre Commercial Court. The new ordinary shares will be admitted for trading on Euronext Paris, and associated documents are available on Solocal’s and AMF’s websites.