Milan, January 13th, 2023 – Racing Force S.p.A. – parent company of Racing Force Group, the world leader in motorsport safety systems – announces the completion of a €10 million capital increase.
The transaction, managed through a primary accelerated book-building procedure, regarded the placement of 1,941,748 ordinary shares at a price of €5.15 per share, equal to a 3% discount on the last closing price but a 4% premium on the average price of the last six months.
The proceeds of the transaction will be used to further strengthen the Group’s production capacity in the United States, also in relation to the Next Generation Fixed-Wing Helmet for the US Air Force and where Racing Force is involved as a manufacturer of a carbon shell for military and civil applications. Part of the proceeds will also be used for other investments in Bahrain and Italy aimed at increasing the Group’s production capacity and efficiency.
The offering represents the first follow-on deal of the company after its IPO in November 2021 (and where Equita acted as Sole Global Coordinator and Bookrunner).
Equita assisted Racing Force as Joint Bookrunner. Thanks to this transaction - representing the eighth accelerated placement successfully completed over the past 2 years, as well as the third primary ABO – the investment banking team and the trading floor of Equita further strengthen the bank’s role as leading ECM franchise in the domestic market, having de facto opened the Italian equity market in 2023.