EQS-Ad-hoc: The Grounds Real Estate Development AG / Key word(s): Capital measure
The Grounds Real Estate Development AG: EUR 40 million in equity secured
12/18/2024 / 11:53 p.m. CET/CEST
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The Grounds Real Estate Development AG: EUR 40 million in equity secured
Berlin, December 18, 2024 – The Grounds Real Estate Development AG (The Grounds / ISIN: DE000A2GSVV5) announces today that the implementation of the capital increase, as part of which a fund managed by HIG Capital is investing in The Grounds with a volume of around EUR 40 million, is secured. The various conditions precedent to which this investment was subject have been met and the investor has subscribed to the capital increase in accordance with the previously concluded agreement. The announced partnership with HIG Capital is now being implemented. The gross proceeds from the capital increase are expected to be around EUR 40.5 million. The company intends to use the proceeds from the capital increase to finance, among other things, new real estate development projects. This is intended to implement the growth strategy planned together with the new major shareholder.
Company contact:
The Grounds Real Estate Development AG
Jacopo Mingazzini, board member
Charlottenstrasse 79-80, 10117 Berlin
T. +49 (0) 30 2021 6866
F. +49 (0) 30 2021 6849
Email: [email protected]
Web: www.thegroundsag.com
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