Tuesday, December 31, 2013

Digital Magics raises €2M on the AIM Italia-MAC to continue backing the Italian Startup Ecosystem

Milan 30 December, 2013 - The Board of Directors of Digital Magics, a Milan-based certified venture incubator of innovative digital startups  listed since July 2013 on the AIM Italia market a segment of the Italian Stock Exchange (symbol:DM) announced the subscription of newly issued 264,853 ordinary shares for a total amount of € 1,986,397.50, deriving from the divisible capital, excluding the right of option, approved by the Extraordinary Assembly of Digital Magics held on July 4, 2013 .

This resolution provided that the shares not placed at the time of admission during the listing process (the maximum no. 1,500,000 ordinary shares to the IPO on AIM Italy) could be placed among professional investors and third parties, by 31 December, 2013.

The capital increase was subscribed at
Euro 7.50 per share, that is at the same placement price during the listing process on the AIM Italia market. It should be noted that part of the capital increase was also subscribed by suppliers of the incubator for No. 16,334 shares, amounting to € 122,505.00 through the conversion of a debt owed by Digital Magics.

The remaining portion of No. 248.519 shares, equal to €1,863,892.50, was subscribed by institutional investors, angel investors and shareholders (in this case in order to round to multiples of the minimum trading lot its share of the stocks resulting from the conversion of convertible bonds in July 2013 and thus allow the marketability of the shares acquired as part of the listing process). Therefore, at the close of the capital increase, the share capital of Digital Magics is equal to €3,674,100 million divided into No. 3,674,100 million common stocks, void of par value.

Resources resulting from the capital increase will be useful for the further growth of the incubator and investment activity.

Digital Magics: - www.digitalmagics.com
Digital Magics is a certified  venture incubator of innovative digital startups, offering content and services of high technological value. Digital Magics is quoted on AIM Italia, the Alternative Capital Market dedicated to small and medium-sized Italian companies with high growth potential, organized and managed by the Italian Stock Exchange. Digital Magics builds and develops internet startup alongside founders, investing equity and providing acceleration services. It starts from talents and ideas, transforming them into successful disruptive businesses in the digital Italian and international economy. The incubator promotes the culture of entrepreneurship and risk, contributing to economic growth and employment of young people. Digital Magics offers services to support innovation, creation and development of digital startups, and supports the search for new private and public investors, Italian and international, that will fund the next phases of development. The Digital Magics model is unique in Italy and is based on the Digital Magics LAB: The team that identifies, analyzes and launch new initiatives, providing startups with innovative services of mentorship, financial, administrative, strategic, logistical, technological, communication and marketing support, as well as support of business management able to accelerate the growth process of the company.

Integrae SIM: acted as Nomad and Specialist, under the Regulation Issuers AIM Italia, during the listing process of Digital Magics at the AIM Italia Market, a segment of the Italian Stock Exchange.
For the transmission of communications Digital Magics uses the SDIR -NIS circuit, run by Bit Market Services, a subsidiary of London Stock Exchange Group .

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