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JP Morgan SE: NEOM INV Fund Co Concludes Investment in Technogym

JP Morgan SE: NEOM INV Fund Co Concludes Investment in Technogym

NIF Holding (Italy) S.r.l. (the “Purchaser”) a wholly owned indirect subsidiary of NEOM Investment Fund Company (“NIF”), which itself is wholly owned by NEOM Company, announces the completion of the reverse accelerated bookbuilding (the “RABB”) for the purchase from selected qualified and institutional investors of approximately 8.8 million ordinary shares of Technogym S.p.A. (“Technogym” or the “Company”). In addition, the Purchaser entered into a derivative solution for the purchase of approximately 3.3 million ordinary shares (the “Derivative”, and together with the RABB the “Transaction”). The price per share paid by the Purchaser in the Transaction is €9.20 with a total value for the Transaction of approximately €111.1 million.

Following completion of the Transaction, the Purchaser will hold c.6.0% of the share capital and c.4.5% of the voting rights of Technogym.

NIF believes in the value creation potential of Technogym given the Company’s history of steady growth and leading market position globally, which has been driven by its technologically advanced product lines and commitment to innovation in fitness and health since its founding in 1983.

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NIF recognizes the growth potential in Technogym and this Transaction reflects NEOM’s commitment to creating a new model for sustainable and healthy living. NIF is therefore committed to being a long-term minority investor in Technogym.

The Transaction follows a series of investments recently announced by NIF. These investments exemplify NIF’s role supporting NEOM’s sector strategies for growth, enabling new technologies, establishing new businesses, and creating job opportunities for a thriving economy in NEOM.

The Transaction will not result in any share dilution for current shareholders of the Company.

J.P. Morgan SE acted as the Sole Bookrunner for the Transaction. Rothschild & Co acted as the Sole Financial Advisor to NIF.

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