Fastned has raised €150 million from Qualified Investors
Fastned, the Fast-Charging infrastructure company from Europe, has received €150 million in gross proceeds.
The European fast-charging network has finished an accelerated bookbuild offering to all qualified investors (of 1,875,000 depositary receipts of ordinary shares, for €80 each), racking up €150 million ($181 million).
According to the press release, the new securities account for about 12.5% of the company’s existing issued share capital.
“We are very happy with this successful capital raise which allows Fastned to significantly accelerate its expansion plans. It enables us to build more and bigger fast charging stations across multiple countries, living up to our mission of accelerating the transition towards sustainable mobility by giving freedom to electric drivers.
Moreover, this transaction has attracted solid institutional investors to Fastned’s shareholder base, and provides a substantial increase of the free float of the depositary receipts traded on Euronext Amsterdam. Both are supportive to our continued growth, and in line with our ambition to become the leading fast charging network in Europe.” said CEO Michiel Langezaal.
According to the company, the funds from the offering are predominantly going to be used to widen Fastned’s fast-charging network, which currently operates 133 stations.
One hundred sixty-four more stations are in the works according to Fastned which will bring the total number of stations in the pipeline to 300. The company identifies Germany and France as two of its top markets.