Legal11 bit studios
Conclusion of Subscription of Ordinary Shares for Series D
1 Nov 20113 pages~5 min full read
11 bit studios S.A. successfully concluded a private placement of Series D ordinary shares on December 23, 2011, raising capital through the issuance of 40,938 shares.
The shares were issued at a price of 9.00 PLN per share, significantly above the nominal value of 0.10 PLN, with the total issuance falling well below the authorized limit of 500,000 shares.
The private subscription process involved 10 participating investors out of 64 initially targeted, with no pre-emptive rights granted to existing shareholders.
Total costs associated with the Series D issuance amounted to 46,722 PLN, comprising 41,722 PLN for preparation and notary fees and 5,000 PLN for advisory services.
The company incurred no costs for underwriting or promotion during this capital-raising exercise.
In accordance with Polish accounting regulations, issuance costs are recorded as prepayments to be settled against supplementary capital following the formal registration of the capital increase.
This corporate notification details the successful conclusion of a private subscription for Series D ordinary bearer shares by 11 bit studios S.A. The primary objective of the issuance was to increase the company's share capital through a private placement, which excluded pre-emptive rights for existing shareholders. The subscription period officially commenced on December 5, 2011, and concluded ahead of schedule on December 23, 2011, following the execution of the final share subscription agreements.
The offering was targeted at a specific group of 64 potential investors, with 10 investors ultimately entering into agreements to acquire the shares. While the company initially authorized the issuance of up to 500,000 shares, the final subscription resulted in the placement of 40,938 shares. Each share, carrying a nominal value of 0.10 PLN, was issued at an emission price of 9.00 PLN. Because the process was conducted as a private subscription, no formal share allotment reduction was necessary.
Financial data indicates that the total costs associated with the Series D issuance amounted to 46,722 PLN. This figure includes 41,722 PLN for offer preparation and notary fees, and 5,000 PLN for advisory services and the preparation of information documents. No costs were incurred for underwriting or promotion. Accounting for these expenses follows standard Polish accounting regulations, where costs are initially recorded as prepayments and subsequently settled against supplementary capital following the formal registration of the capital increase. This issuance reflects the company's early-stage financing activities within the Polish capital market framework.
