MotorK Plc announces that it has successfully implemented a reserved capital increase of €3 million, translating into 1,310,043 new ordinary shares, based on June 1st 2023 closing price of €2.29 per share, with Lucerne Capital Management, a long-standing shareholder of MotorK. The additional funds raised through this transaction will be utilized to further bolster the company’s external growth strategy.
The reserved capital increase represents a significant show of support for the Group’s strategic vision by Lucerne. Lucerne’s commitment to investing in the Group’s growth initiatives reinforces its confidence in the potential and long-term strategy of MotorK.
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Marco Marlia, Co-founder & CEO of MotorK said: “We are delighted that Lucerne, as a prominent existing shareholder, has demonstrated its belief in our company’s potential and strategic direction. Their commitment as an investor further establishes Lucerne as an anchor shareholder of MotorK, solidifying our collaboration and positioning us for future success”.
About Lucerne Capital Management
Lucerne is an investment firm specializing in fundamental, bottom-up stock selection with a focus on European markets. The firm manages approximately $500 million in assets. Lucerne’s expertise is a combination of four decades of experience in European equity research and a repeatable private equity investment style with tactical trading around value dislocations.
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ABOUT MOTORK PLC
MotorK is a leading software as a service (“SaaS”) provider for the automotive retail industry in the EMEA region, with over 400 employees and eleven offices in eight countries (Italy, Spain, France, Germany, Portugal, Belgium, the UK and Israel). MotorK empowers car manufacturers and dealers to improve their customer experience through a broad suite of fully integrated digital products and services. MotorK provides its customers with an innovative combination of digital solutions, SaaS cloud products and the largest R&D department in the automotive digital sales and marketing industry in Europe. MotorK is a company registered in England and Wales.
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