iVision Tech S.p.A., innovative SME and an excellent example of “Made in Italy” manufacturing specializing in the design and production of acetate eyeglass frames, sunglasses, and combined glasses, and the owner of the prestigious French high-end eyewear brands “Henry Jullien,” has approved the issuance of two non-convertible bonds up to a maximum of €7,000,000, reserved for sophisticated and non-sophisticated investors.
Specifically:
- Minibond with a maximum amount of €5,000,000, amortizing, with a two-year grace period and a maximum maturity of 7 years, reserved for sophisticated and non-sophisticated investors as defined by the new European Regulation 2020/1503/EU on crowdfunding. The issuance will have a unit denomination of €10,000 and multiples thereof, with a variable interest rate and semi-annual coupon equal to the average six-month Euribor rate observed during the observation period, plus a spread of 290 basis points.
- Minibond with a maximum amount of €2,000,000, amortizing, with a variable interest rate and coupon as provided in point 1 above, with a two-year grace period and a maximum maturity of 7 years, reserved for professional investors only as defined by Annex 2 of Directive 2014/65/EU. The unit denomination will be €50,000.
It is currently expected that the issuance could be finalized by June 2024. The minibond documentation can be viewed by accessing the Fundera portal (www.fundera.it). Frigiolini & Partners Merchant acts as the advisor, listing partner of Euronext Access Milan for secondary market listing, as well as process coordinator and servicer for dematerialization with Monte Titoli SpA, for both issuances, while the Fundera portal, assisted for the first issuance by the alternative finance portal CrowdFundMe (www.crowdfundme.it), will serve as the placer for the first of the two issuances on the primary market.
Consistent with what was declared to investors during the IPO, the funds raised will be used by the Company to accelerate the projected growth path, mainly concerning the opening of new foreign markets and the implementation of new products to complete the current range.
Stefano Fulchir, CEO of iVision Tech, commented: “As stated at the IPO and confirmed by the acquisitions of the historic French brand Henry Jullien and the ophthalmic lens manufacturer IVILENS OOD, iVision Tech intends to continue its growth path through external lines. To do this, we have decided to use financial instruments such as minibonds, which will allow us to increase resources to add further elements to our development strategy and to give a boost to the ISEE project, the innovative project of glasses for the blind and visually impaired on which we are working diligently with our R&D department”.