Racing Force Successfully Completes EUR 7.5 Million Capital Increase

Racing Force S.p.A., a global leader in motorsport safety systems, has completed a capital increase, raising approximately EUR 7.5 million through an Accelerated BookBuilding procedure. The issuance involved 1,690,135 new ordinary shares at a price of EUR 4.43 each. Axon Partners Group and Bahrain Mumtalakat Holding acted as cornerstone investors, contributing EUR 5 million and EUR 2 million, respectively.

The share placement was aimed at qualified investors across Europe and institutional investors internationally. SAYE S.p.A. remains the main shareholder with a 49.5% stake. This capital increase is intended to support Racing Force's global business expansion and development activities.

Chairman and CEO Paolo Delprato emphasized the company's commitment to significant growth and diversification projects. The proceeds will also facilitate the construction of a new factory in Bahrain, enhancing production efficiencies and margins. The new shares will be traded on Euronext Growth Milan and Paris from June 28th, 2024.