SRH AlsterResearch AG Update: mic AG - Further news on envisaged capital increase

 

mic AG (update) Technology MCap EUR 61m* BUY, PT EUR 5.40 (68% potential) Research_update mic announced further details for its envisaged capital increase. At a subscription price of EUR 3.00, mic aims to issue c. 3.6m new shares allowing for a cash injection of approx. EUR 10.9m. We highly welcome this deal as this marks the final capital market transaction in a complex structure to reverse takeover Freiburg based Pyramid GmbH – a specialist and digital innovator for the POS (e.g. digital kiosk systems). The issue price of EUR 3.00 represents a discount of c. 7% to yesterday’s closing price and nearly 65% to our fair value calculation. We therefore reiterate our BUY recommendation, PT unchanged at EUR 5.40. For 5 current investment ideas, check our Weekly Screener. This week we are looking for companies that are simply the cheapest (deep value). Please note that AlsterResearch publishes MiFID II compliant research only. For a detailed discussion on MiFID II, please visit https://www.research-hub.de