Business
4 for 1 c.£575.8 million Rights Issue
4 for 1 c.£575.8 million Rights Issue.
About this update from Aston Martin Lagonda Global Holdings Plc
[{"type":"text","content":"\n \n \n NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, CHINA OR SOUTH AFRICA OR ANY OTHER JURISDICTION WHERE SUCH ACTIVITY WOULD BE UNLAWFUL.\n \n \n \n THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND IS NOT AN OFFER OF SECURITIES IN ANY JURISDICTION. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.\n \n \n \n 5 September 2022\n \n \n \n Aston Martin Lagonda Global Holdings plc\n \n \n \n \n 4 for 1 fully committed and underwritten c.£575.8 million Rights Issue\n \n \n \n \n \n \n \n \n Aston Martin Lagonda Global Holdings plc (\"Aston Martin\", \"Aston Martin Lagonda\" or the \"Company\") today provides the following update:\n \n \n ·\n \n Fully committed and underwritten c.£575.8 million Rights Issue\n \n \n \n · \n \n Irrevocable commitments from PIF, the Yew Tree Consortium and Mercedes-Benz AG to take up their full entitlements, amounting to 44.7% of the total Rights Issue\n \n \n \n ·\n \n Final element of the Capital Raise providing clear pathway for significant shareholder value creation with pro-forma cash of £500 - 600m post debt pay down, driving Aston Martin's growth ambitions and supporting positive free cash flow generation from 2024\n \n \n \n \n \n \n \n \n Further to the announcement on 15 July 2022, the Company announces a fully committed and underwritten rights issue to raise c.£575.8 million (the \"Rights Issue\") as part of the previously announced equity raise of c.£653.8 million (before expenses) (the \"Capital Raise\"). A prospectus containing full details of the Capital Raise dated 5 September 2022 (the \"Prospectus\") is expected to be made available on the Company's website at\n \n https://www.astonmartinlagonda.com/investors/funding/september-2022-capital-raise\n \n later today.\n \n \n \n Background to the Capital Raise and use of proceeds\n \n \n \n Since the Yew Tree Consortium invested in early 2020, the Group has made significant progress to fulfil its vision of becoming the world's most desirable ultra-luxury British performance brand. With the successful implementation of Project Horizon, the Group has already achieved a 20 per cent...