Varia US Properties AG (the “Company” or “Varia US”) completed its private placements announced on 26 November 2020. The total commitments received from investors amount to CHF 40.4 million, corresponding to the issuance of 1,125,000 new registered shares in the Company with a nominal value of CHF 1.00 each (the “New Shares”) and a capital increase from currently CHF 9,001,018 by CHF 1,125,000 to CHF 10,126,018 (the “Capital Increase”).
The Capital Increase is subject to payment of the purchase price by the purchasers of the New Shares. In case one or more investors fail to pay the purchase price for the New Shares until 30 November 2020 at 10:00 a.m. (CET), the amount of the Capital Increase will be reduced proportionally.
The funds from the Capital Increase are planned to be used to further enhance the Company’s portfolio in the US. Patrick Richard, Executive Member of the Board of Directors of Varia US, said: “We are happy with the strong interest in our Company. This step will allow Varia US to continue on the path we have taken the last few years and to further benefit from promising opportunities in our target markets. We will use these newly raised proceeds to exploit attractive investment opportunities in growing suburban regions in the US.”