VOGO Announces €5 Million Capital Increase to Accelerate Growth and Transform Business Model

VOGO, a pioneering tech company in the sports sector, has launched a €5 million capital increase with preferential subscription rights to fuel its international sales and support its business model transition towards Technology as a Service (TaaS). The capital increase aims at issuing 1,255,790 new shares at €4.04 each, a 15% discount on the recent average trading price, from 18 April to 2 May 2024. This move is part of VOGO's strategy to expand its innovative solutions in health, performance improvement, and fan experience in sports.

The transaction is substantially backed, with 75% underwritten by commitments from existing stakeholders including ABEO, managers, and new investors, who are prominent athletes. These funds will predominantly finance VOGO's expansion in Africa, the Middle East, Asia, and North America, totaling approximately 40% of the raised amount, and aid in the company's shift to a TaaS business model.

VOGO's CEO, Christophe Carniel, highlighted the sports world's transforming nature and the company's role as a frontrunner in integrating new technologies into sports. With successful ventures, such as FIFA certifications for video refereeing, the company expects the capital increase to fortify its innovation, international presence, and financial health, aiming for growth and enhanced profitability.