Altran announces the launch and the terms of its share capital increase with preferential subscription rights for c. €750 million related to the refinancing of the acquisition of Aricent.
- Subscription ratio: 8 new shares for 17 existing shares
- Subscription price: €9.23 per new share
- Rights trading period: from March 23rd, 2018 to April 5th, 2018 inclusive
- Subscription period: from March 27th, 2018 to April 9th, 2018 inclusive
Altran (the “Company”) announces today the launch of a share capital increase with preferential subscription rights to existing shareholders (the “Rights Issue”), for a gross amount of approximately €750 million. The principle of the Rights Issue was made public on November 30th, 2017 when Altran announced the contemplated acquisition of Aricent. The Rights Issue was authorized by the Company’s shareholders during the Extraordinary General Meeting held on January 26th, 2018.
The net proceeds of the Rights Issue will be exclusively used to redeem in full the €250 million Bridge Facility and part of the €2,125 million Term Loan B entered into in February 2018 in connection with the acquisition of Aricent and drawn in full.
The acquisition of Aricent was completed on March 20th, 2018.
The Rights Issue is underwritten pursuant to an underwriting agreement signed on March 21st, 2018. This underwriting agreement does not constitute a firm underwriting (“garantie de bonne fin”) within the meaning of Article L. 225-145 of the French Commercial Code.