Creotech Instruments S.A., Europe’s leading manufacturer of satellite systems and components as well as advanced electronics dedicated to quantum computer control systems and other applications, successfully completed its IPO of 185 thousand series H shares. The Company raised nearly PLN 11.3 million.
- All 185,000 offered series H shares were taken up and paid for.
- The average reduction in the Small Investor Tranches was 96.27%.
- 1% of the new issue shares were taken up by the Company’s employees
Following the recommendation of its investment firm, the offering was split into three tranches. The vast majority of the new issue shares was offered in the Large Investors Tranche (87.5%) with around a dozen institutional investors among them.
“We would like to thank our new shareholders for the trust they placed in us. We are happy that investors found our vision for the Company’s growth and project implementation compelling. The funds raised will go towards continued development of EagleEye, our Earth observation satellite, and bringing the HyperSat microsatellite platform up to the state-of-the-art. We will also create our own offering of modular satellite platforms and purchase a third production line for electronics assembly to scale-up our operations. Now we will move to addressing the formalities related to listing our shares on the NewConnect market. We will make every effort to make the debut happen in the third quarter of this year,” says Jacek Kosiec, President of the Management Board of Creotech Instruments S.A.
Brokerage house Dom Maklerski Navigator S.A. acted as the lead manager and bookrunner for the IPO, with cc group sp. z o.o. advising the Company’s Management Board and law firm WBW Weremczuk Bobeł & Partners Kancelaria Radców Prawnych serving as legal advisors.
Creotech Instruments’ revenues are growing steadily and in 2020 reached nearly PLN 29m (+ 14% y/y), with an EBITDA of over PLN 3m (+ 57% y/y). The Company’s current order backlog is worth some PLN 25m and may expand by another several or over a dozen million zlotys thanks to short-term projects the Company plans to secure in the second half of the year.
“Our strategy assumes that in the next 3-4 years, Creotech Instruments will join the narrow, elite club of global microsatellite manufacturers. We will launch our first satellite, as well as commence the commercial sale of modules and systems of the HyperSat satellite platform. The value of such a platform currently ranges from USD 1m to 4m. Analytical data indicates that over the current decade, this market will see a five-fold increase, a trend chiefly following from the consistent growth of the array of microsatellite applications. Microsatellites are capable of catering tasks related to observation, establishing and maintaining critical connectivity, internet connectivity or providing weather forecasts. Recognizing the potential of this sector, we aspire to be one of the greatest beneficiaries of its boom in Europe. In addition, we are able to leverage the expertise gained over many years of R&D projects to develop an attractive commercial offering featuring specialized products. For our project work carried out to date, weather as a consortium leader or member, we have obtained PLN 95 million in funding with PLN 60 million of that being attributable to Creotech,” says Jacek Kosiec.
Creotech Instruments is Poland’s largest manufacturer and global exporter of space technologies and specialized electronics and instruments, including for quantum computers, quantum cryptography, as well as quantum physics and high energy laboratories. The Company’s products were part of 26 space sector projects, including 10 space missions, 4 of which were carried out for the European Space Agency (ESA). One of Creotech’s most important current projects is the HyperSat satellite platform, which positions the Company among a dozen or so companies in the world capable of offering tailored-made microsatellites and entire microsatellite constellations.
For more info contact:
Beata Kowalczyk, cc group
m.: +48 605 959 539
Edyta Mazerska, Creotech Instruments S.A.
m.: +48 691 91 00 38