Brera Holdings PLC Secures $2.7M in Series A Financing - Key Insights & Details
Brera Holdings PLCSeries A Preferred Sharesfinancial report analysisacquisition strategyDublin financial sector
Here are the key insights extracted from the financial report of Brera Holdings PLC:
Company Overview
- Name: Brera Holdings PLC
- Headquarters: Connaught House, 5th Floor, One Burlington Road, Dublin 4, Ireland
- SEC File Number: 001-41606
- Report Type: Form 6-K (Report of Foreign Private Issuer)
Financing Transaction
- Event Date: Initial closing on December 23, 2024, followed by a second closing on December 27, 2024.
- Total Proceeds Raised: $2.7 million from the sale of 540,000 Series A Preferred Shares.
- Initial Closing: $2.5 million from 500,000 shares at $5.00 per share.
- Second Closing: $200,000 from 40,000 shares.
- Offering Structure: The offering is authorized to raise up to $10 million through the sale of a maximum of 2,000,000 Series A Preferred Shares.
Placement Agent
- Agent: Boustead Securities LLC
- Fees Structure:
- 7% commission on the gross amount raised.
- 1% non-accountable expense allowance.
- 5-year warrants to acquire Series A Preferred Shares, not exceeding 7% of the gross amount raised, at an exercise price of $5.00.
Terms of Series A Preferred Shares
- Liquidation Preference: $5.00 per share.
- Conversion: Each Series A Preferred Share is convertible into eight Class B Ordinary Shares.
- Options: Call and put options available after specified periods.
- Investor Warrants: No investor warrants were issued in this transaction.
Use of Proceeds
- The net proceeds will be allocated towards:
- The company's acquisition strategy.
- Other growth initiatives.
- Working capital and general corporate purposes.
Regulatory Compliance
- The offering is exempt from registration under Rule 506(b) of Regulation D and Regulation S.
- No public market for Series A Preferred Shares is expected to develop.
Further Information
- The Subscription Agreement and Certificate of Designation of Series A Preferred Shares is available as Exhibit 1.1 to this report.
Signatory
- CEO: Pierre Galoppi
- Date of Signing: December 27, 2024
This summary encapsulates the essential details regarding the financing transaction, terms, use of proceeds, and regulatory aspects related to Brera Holdings PLC's recent activities.
