[13.09.2017] Staramba SE: American investor expands its stake in Staramba SE and becomes fourth largest shareholder
13th September 2017
Staramba SE (XETRA: 99SC), listed in the General Standard, is pleased about the successful conversion of the bonds held by the US investor 3D SAFE Corporation into new shares of Staramba SE. The Tampa, Florida-based company announced last week that it will waive repayment of its convertible bond subscribed in the first quarter of 2017. Instead, 3D SAFE Corporation has exercised its conversion right and in the course of this process has increased its shareholding in Staramba SE to currently 5.69 percent.
“We are very pleased about the carefully considered step taken by our anchor investor to further expand its involvement in Staramba SE. With 3D SAFE Corporation we are in a continuous and trusting exchange, so we are not completely surprised. It makes sense for all those involved to waive the repayment. The liquidity of Staramba SE is protected on the one hand, which is an advantage for all Staramba shareholders at the same time. On the other hand, our anchor investor benefits from the positive development of our company - a win-win-win situation" says Christian Daudert, CEO of Staramba SE.
Operationally, Staramba SE is fully on course. The Management continues to maintain its forecast for the financial year 2017, which envisages a significant increase in sales to EUR 15.9 million. The expected sales increase is based on the complete acquisition of Staramba USA Corp., the increase in the stake in Social VR GmbH as well as the strong increase in scanner sales and the beginning monetization of the digital business.