Inside Secure completes €16m fundraising
September 11, 2017
Inside Secure, a specialist in security solutions for mobile and connected devices, has announced the successful completion of fundraising in the global amount of €16 million through the issuance of bonds convertible into new shares and/or exchangeable for existing shares (“OCEANE”) due in 2022.
The OCEANE bonds have been offered by way of two private placements essentially performed with institutional investors in Europe on June 27th and September 5th 2017, and reached the full financial delegation granted by the 25th resolution approved during the shareholders’ extraordinary general meeting held on June 14, 2017.
Amedeo D’Angelo, president and CEO of Inside Secure commented: “We are very pleased with the success of this fundraising, which demonstrates the confidence of investors in Inside Secure’s outlook and provides additional financial flexibility for the growth strategy of the company. The proceeds of this fundraising enable Inside Secure topursue its selective acquisition strategy related to software security, as illustrated by the completion of the acquisition of Meontrust at the end of August 2017, while optimizing the financing cost and the shareholders’ dilution.”