Published: 2020-12-14 12:46:51 CET
Baltic Technology Ventures
Company Announcement

BTV's debut Secondary Public Offering (SPO) on NASDAQ BALTIC FIRST NORTH: Open for Subscription

AS Baltic Technology Ventures (‘BTV’, Nasdaq Baltic First North share list ticker: BTE1R), the only exchange-listed venture capital investor focused on identifying and developing early-stage technology companies in the Baltic region (Estonia, Latvia, Lithuania), announced on 4 December 2020 decision of its shareholders to approve the offering of 2,500,000 new shares at € 0.4 per share. The offering is being carried with Nasdaq Baltic Alternative Market First North rules.

At the time of issue, BTV has onboarded a portfolio of six companies (minority stakes) and aims to deploy new capital to invest and scale new exciting tech startups presently in the investment pipeline (at the time of this notification there are 15 companies in ongoing discussions).

BTV is only working with companies that have already received seed funding and/or completed an accelerator program, some of the other investors include Overkill Ventures, Startup Wise Guys, Baltic Sandbox and other early stage investors active in the Baltic region. All startups are generating revenue. New capital will be invested expanding operations and investing in the startups active in the Baltics and those that already started generating revenues.

BTV backs companies in the post-revenue / pre-A series stage where it can have maximum valuation impact through its vast network of contacts and help companies monetize their business model. This investment focus makes BTV uniquely positioned to capitalize on its exposure to the vibrant Baltic startup ecosystem, which has emerged as an innovative powerhouse in Europe and is generating one of the largest number of “unicorns” (startups with valuation exceeding 1 billion USD) per capita.

BTV's founder and CEO Gene Zolotarev commented on the new share offering: “This is an important and exciting milestone for BTV’s corporate development, and we are proud to undertake our first Secondary Public Offering on Nasdaq Baltic First North. The strong interest and demand from investors early in this process is a vote of confidence in BTV’s path to growth and success in the region. As a Nasdaq Baltic First North traded company, BTV is fully transparent, investors may invest or exit at any time, no management and performance fees are payable. Secondary share offering provides an opportunity to invest, possibly, in the next “unicorn” from the Baltics.”

BTV shares were initially admitted for trading on Nasdaq Baltic First North on August 21, 2013, the company has always fully complied with the best corporate governance standards. Information on its shareholder structure, management structure, financial position and financial reports, share performance, substantial events and any other material information is available in the exchange news feed. Please see BTV profile: https://nasdaqbaltic.com/statistics/en/instrument/LV0000101384/trading.

Investments and trading in shares on stock exchange are subject to risk of loss. One must evaluate potential risks before making investment decisions. Historic results may not be used as evidence for future performance.

If you are interested in participating in the upcoming share issue, please fill out the share subscription form: https://smartlaws.eu/share/template/btv.

The indicative timetable of the SPO is the following:

Start of Offering Period                                               4 December 2020

End of Offering Period                                                26 February 2021

Announcement on the results of the Offering             on or about 15 March 2021

Settlement of the Offering                                          on or about 15 March 2021

Terms of the share issue are attached to this announcement.

In case you have any questions or need further assistance with the subscription form, please follow up on BTV’s LinkedIn page: https://www.linkedin.com/company/baltictechventures/ or contact us directly by email at info@baltictechventures.com.

 

Member of the Management Board                                                             G.Zolotarev

 

First North operates in the Nordic and Baltic countries in parallel with the regulated market, but does not have the legal status of a regulated market. Companies whose securities are traded on the market are not subject to requirements established for the regulated market, but to those set out with First North’s rules and regulations and these regulations are not so stringent as for regulated market. All companies that begin trading must have signed an agreement with an adviser who assesses the suitability of the company for trading on the market and monitors compliance with First North rules.

Nasdaq Baltic is a common name for exchanges, regulated markets, alternative markets First North operated by Nasdaq companies in the Baltic states, i.e. Nasdaq Tallinn AS, Nasdaq Riga AS and AB Nasdaq Vilnius.

 

         Contacts:
         Address: 1-5 Rupniecibas Street, Riga, LV-1010
         Phone: +371 67783611
         
         Contact person:
         Gene Zolotarev
         Member of the Management Board
         Phone: +371 67783601
         e-mail: gene@baltictechventures.com
         
         Certified consultant:
         Svetlana Hramčenko
         "Law Office Spridzans" Ltd.
         Phone: +371 26712718
         e-mail: svetlana.hramcenko@spridzans.lv


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