VIA optronics AG ("VIA"), a leading supplier of enhanced display solutions, announced today the pricing of its initial public offering (the "Offering") of 6,250,000 American Depositary Shares ("ADSs"), representing 1,250,000 ordinary shares at a public offering price of $15.00 per ADS, for gross proceeds of $93.75 million, before underwriting discounts and commissions. All of the ADSs are being offered by VIA. In addition, certain selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 937,500 ADSs, representing 187,500 ordinary shares, to cover over-allotments, if any, at the public offering price, less underwriting discounts and commissions. VIA will not receive any proceeds from the sale of ADSs by the selling shareholders. VIA ADSs are scheduled to begin trading on New York Stock Exchange on September 25, 2020 under the ticker symbol "VIAO." The Offering is expected to close on September 29, 2020, subject to customary closing conditions.
Berenberg is acting as sole bookrunning manager for the Offering and Craig-Hallum Capital Group is acting as lead manager.
Corning Research Development Corporation ("Corning"), one of VIA's commercial partners, has agreed to purchase 1,403,505 ADSs, representing 280,701 ordinary shares, at an aggregate purchase price of approximately $20 million in a separate concurrent private placement, which is expected to be completed after the completion of the Offering, at a price per ADS equal to 95% of the public offering price in the Offering. The sale of ADSs to Corning will not be registered under the Securities Act of 1933, as amended. While the closing of the concurrent private placement is conditioned on the closing of the Offering, the closing of the Offering is not conditioned upon the closing of such concurrent private placement.
The Offering is being made only by means of a prospectus. Copies of the final prospectus relating to the Offering may be obtained from Berenberg Capital Markets LLC, Attention: Equity Capital Markets, 1251 Avenue of the Americas, 53rd Floor, New York, NY 10020, by telephone at (646) 949-9000, or by email at ProspectusRequests@berenberg-us.com.
A registration statement relating to the securities being sold in the Offering has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (the "SEC"). This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, the securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About VIA optronics:
VIA is a leading provider of enhanced display solutions for multiple end-markets in which superior functionality or durability is a critical differentiating factor. Its customizable technology is well-suited for high-end markets with unique specifications as well as demanding environments that pose technical and optical challenges for displays, such as bright ambient light, vibration and shock, extreme temperatures and condensation. VIA's interactive display systems combine system design, interactive displays, software functionality, cameras and other hardware components. VIA's intellectual property portfolio, process know-how, and optical bonding and metal mesh touch sensor and camera module technologies provide enhanced display solutions that are built to meet the specific needs of its customers.
Forward-Looking Statements
Statements in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements." These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words, without limitation, "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these or similar identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including: the uncertainties related to market conditions and the completion of the Offering on the anticipated terms of the Offering or at all, and other factors discussed in the "Risk Factors" section of the preliminary prospectus that forms a part of the effective registration statement filed with the SEC. Any forward-looking statements contained in this press release are based on the current expectations of VIA's management team and speak only as of the date hereof, and VIA specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise.
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