ARCUEIL, France, September 09, 2024–(BUSINESS WIRE)–Regulatory News:
BALYO (FR0013258399, Mnemonic: BALYO, PEA-PME eligible) (the ” Company “), a technology leader in the design and development of innovative robotic solutions for handling trucks, announces that an Ordinary and Extraordinary General Meeting (the ” General Assembly “) will be held on October 23, 2024, at 11:00 a.m. (CEST), at the Company’s registered office located at 74 avenue Vladimir Ilitch Lénine – 94110 Arcueil, France, with a view to proposing a capital increase, with preferential subscription rights, of 36 million euros (the ” Capital Increase »).
The prior notice of meeting will be published in the BALO (Bulletin des Annonces Légales Obligatoires) and will be available on the Company’s website, in the “Investors” > “General Meetings” section.
The purpose of this General Meeting is to approve the delegation to the Board of Directors to enable the Company to strengthen its balance sheet through the proposed Capital Increase. In addition to strengthening its balance sheet, the purpose of this Capital Increase is to enable the Company to meet its financing needs during the 12 months following the implementation of the Capital Increase.
All documents relating to the General Meeting will be available on the Company’s website, in the section “Investors” > “General Meetings”, within the legal deadlines. Shareholders will be informed by a press release.
The proposed Capital Increase is subject to (i) approval by the General Meeting of a financial delegation granted to the Board of Directors, and (ii) obtaining the visa from the Financial Markets Authority (the “Autorité des marchés financiers”). AMF ”) on the prospectus relating to the Capital Increase.
Subject to compliance with the conditions set forth above, SoftBank Group (“ SoftBank » through SVF II Strategic Investments AIV LLC (“ SSI AIV “), the Company’s principal shareholder), plans to (x) subscribe to the Capital Increase in proportion to its holding of approximately 80% following the partial conversion of the Company’s convertible bonds issued to SSI AIV and (y) in the event that shares remain unsubscribed at the end of the subscription period, SSI AIV is prepared to subscribe to such shares, up to 100% of the offering. SSI AIV’s subscriptions would be partially made by offsetting the amounts owed to SoftBank at that date under (i) the shareholder loan entered into on March 21, 20241 (approximately EUR 13.2 million), and (ii) part of the convertible bonds issued by the Company and subscribed by SSI AIV on June 14, 20232 (approximately 2.7 million euros). SoftBank has indicated its intention, following the completion of the Capital Increase, to keep the Company listed for a period of at least 12 months.
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The financial conditions of the Capital Increase will be determined on the basis of the market conditions then applicable.
For any questions, please contact the Investor Relations team at [email protected].
About BALYO
People around the world deserve rewarding and creative jobs. At BALYO, we believe that pallet movements in industrial and manufacturing sites should be entrusted to fully autonomous robots. To achieve this ambition, BALYO transforms manual handling trucks into autonomous robots, thanks to its proprietary Driven by Balyo™ technology. Our geo-navigation system allows equipped vehicles to locate themselves and navigate completely autonomously inside buildings, without requiring additional infrastructure. To accelerate the conversion of the handling market to autonomy, BALYO has entered into two global partnerships with Kion Group AG (parent company of Fenwick-Linde) and Hyster-Yale Group. A complete range of robots, available worldwide, has been developed for almost all traditional storage applications: tractor robots, pallet trucks, stackers, retractable masts and VNAs. BALYO and its subsidiaries in Boston and Singapore serve customers in the Americas, Europe and Asia-Pacific. The company has been listed on Euronext since 2017 and its turnover reached €26.7 million in 2023. For more information, visit www.balyo.com.
1 See terms and conditions in the “Documentation” section
2 “SoftBank Group’s proposed public tender offer to acquire Balyo shares,” June 14, 2023
View source version on businesswire.com: https://www.businesswire.com/news/home/20240909481104/fr/
Contacts
BALYO
[email protected]
NewCap
Financial Communication and Investor Relations
Thomas Grojean / Aurélie Manavarere
Tel: +33 1 44 71 94 94
[email protected]
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