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Analyst Comment

MapsPeople: Announces the result of its rights issue and raises DKK 28.3m in new capital

By Kasper LihnHead of Research
MapsPeople

Today, MapsPeople announced the result of its rights issue. In total, the company raises DKK 28.3m in gross proceeds, implying that 10,093,425 new shares will be issued at a subscription price of DKK 2.80 per 1 new share.

Pre-emptive rights and binding orders have been exercised for a total of 30.57% of the rights issue, and the guaranteed commitments from guarantors have subscribed for the remaining 69.43% of the rights issue.  

With this capital raise and cost savings, MapsPeople has a full focus on profitable growth, both growing ARR at high growth rates and reaching break-even.

Read the full announcement and details here: https://view.news.eu.nasdaq.com/view?id=b14e345d06bdf8ffeec5fb04779799d3f&lang=en&src=listed

HC Andersen Capital receives payment from MapsPeople for a Digital IR/Corporate Visibility subscription agreement. /Kasper Lihn 16:10, 23 June 2023.

MapsPeople is a Software-as-a-Service (SaaS) company focusing on digital mapping for indoor navigation. The two primary revenue streams are 1) MapsIndoors which is MapsPeople’s own developed mapping solution for indoor navigation 2) Google Maps partnership with Google. MapsIndoors is the key segment with high double-digit growth rates, and the Google Maps segment is expected to be a more steady business going forward. MapsPeople has a global presence with offices in Denmark, Germany, Singapore and United States, and customers include some of the largest brands in the world. The company has been listed at Nasdaq First North Premier in Denmark since June 2021.

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