AROBS raised 74.2 million lei from investors in the largest private placement in the history of the AeRO market

AROBS Transilvania Software (stock symbol AROBS), a Romanian IT company, announces the successful closure of the largest private placement in the history of the AeRO market by raising 74.2 million lei from investors. The company intends to float the shares on the AeRO market of the Bucharest Stock Exchange in the coming weeks.

"We welcome the new investors in the AROBS team, and we are looking forward to starting together this new stage of the company's development. We have ambitious plans to grow the business, and the capital raised from the successful private placement closed in one day will support us in this endeavor. The context in which we find ourselves today is beneficial for the company and our investors. In the next period, we will focus on identifying IT companies that could be included in the AROBS Group through M&A transactions, as well as on growing our business nationally and internationally. We thank the investors for their trust and would like to inform them that we are in the process of finalizing the listing procedures of AROBS shares on the AeRO market of the Bucharest Stock Exchange as soon as possible," stated Voicu Oprean, founder and CEO of AROBS.

AROBS Transilvania Software, founded in 1998 by Voicu Oprean, specializes in providing customized software solutions based on the latest technologies and also has several software solutions already implemented on the Romanian market and in the CEE. Hundreds of software specialists are involved in customized software projects, for international partners, in highly demanding industries, such as automotive, travel tech, IoT, pharma, fintech, and enterprise solutions.

Since 2003, the company has been developing its software products and solutions such as TrackGPS, Optimall, RateWizz, MonePOS, and a solution for digitalizing textbooks. As a result of acquisitions made by AROBS in the last three years, the company also owns the following software products: SASFleet, TrueHR, and SoftManager CRM +. Through the acquisition of CoSo Benelux, in 2018, AROBS opened a new business line in the RPA (robotic process automation) subsector in the logistics and Transport Management Systems (TMS) sub-sectors.

During the private placement, which started on October 15, a total of 54,697,494 shares, respectively 12% of the company's current share capital, were sold at 1,357 lei per share. 149 retail investors, 38 professional and 9 institutional investors participated in the private placement. The offer closed in advance on the first day, amid a subscription of 2.82 times, investors placing orders totaling 209.7 million lei. Therefore, the share allocation rate is 35.4%.

"We are happy that we assisted AROBS Transilvania Software in closing the first step of their listing journey, namely the private placement. The interest for this private placement was high from both retail and professional investors, so it was closed in advance from the first day, which shows us the high appetite of investors towards Romanian entrepreneurial companies. It is a new landmark transaction for BRK Financial Group that successfully brokered the largest private placement in history - at a multiple of 3 times compared to the next one in the hierarchy. AROBS, through its anticipated capitalization - over 600 million lei exceeds at least three times any other company that floated this year on the multilateral trading system of BVB. We will continue to assist AROBS in completing all the steps for floating their shares on AeRO, a process that we intend to finalize in the coming weeks," stated Monica Ivan, CEO of BRK Financial Group.

Following the private placement, the shareholding structure of the company is as follows: Voicu Oprean, founder and CEO, holds 64% of the shares, 8.8% are shares to be used in the Stock Option Plan, which will be implemented within the company, Cabrio Investment SRL holds 8.8%, management and key employees hold 6.4% of AROBS shares, while BVB investors hold 12% of the shares.

In 2020, AROBS Transilvania Software registered, at the individual level, a turnover of 154.5 million lei, EBITDA of 46.6 million lei, and a net profit of 40.4 million. For 2021, the company estimates revenues at the consolidated level in the AROBS Group of 192.7 million lei and consolidated EBITDA of 52.8 million lei.