Glass to Power SpA approves an important capital increase 
that evaluates the company 30M€

Milan, October 17th 2019 – The Shareholders’ Meeting of Glass to Power (G2P) was held yesterday, at the Department of Materials Science of the University of Milan Bicocca, in order to submit an important capital increase to all Shareholders .

A great number of Shareholders took part in the meeting, both directly at the headquarters and through audioconference.

Guido Massari, a member of the G2P Board of Directors and CFO of the company, explained the reasons for the capital increase and the structure of all the documents produced by the partners and the consultants involved in order to carry out the operation in the best possible way. Orrick Law Firmwas identified as Legal Advisor, Fraunhofer Institute, the most important European Research Institute, carried out an extremely positive evaluation of all the technology developed by G2P and the Consulting Division of Philipspresented an important comparative market analysis of the different Building Integrated Photovoltaic (BIPV) solutions existing in the world, that placed G2P in a position of true technological leadership. The economic evaluation of the company, entrusted to Prof. Giuseppe Sancetta, Full Professor of Economics and Business Management at the University of Rome “La Sapienza”, stood at the basis of the capital increase operation.

Starting from the evaluation of Prof. Sancetta who, according to various analysis criteria, positioned the pre-money value of the company at € 21.96M, a capital increase of € 8M was submitted to the Shareholders’ Meeting, thus bringing the post-value money of the company at € 30M. Each share will have a value of € 48.8.

The coordination of the financial transaction was entrusted to the company Arkios SpA, whose Chairman, Prof. Paolo Pescetto, intervened during the Shareholders’ Meeting in order to illustrate the company’s activities and its many references. The capital raising, through Private Placement, will be entrusted to Arkios and to a group of high-profile financial partners that guarantee its placement on the market, identifying industrial partners, Family Offices, Italian and foreign Venture Capitals of the highest order. The possibility of resorting to crowdfunding for the remaining unacquired shares was also taken into consideration.

The first part of the capital increase will last one month and the current shareholders, more than five hundred, will be able to subscribe to the purchase option and to exercise the right of pre-emption on the unopted shares. All the shareholders, who have followed us in our adventure for some time, have been offered a purchase of shares at discounted prices: € 44 for the option and € 42 for the pre-emption. The capital increase will remain open until June 30th 2020 to welcome new important shareholders that, due to internal company procedures, will need more time to formalize their interest in participating.

Glass to Power is now close to enter the market with some first experimental products, in view of 2020, the year in which Directive 2010/31/EU, which provides for near-Zero Energy Buildings, will be enforced. Investing today in Glass to Power therefore means investing in a long-term green energy strategy with a safe perspective.