DGAP-News tonies SE starts trading on the Frankfurt Stock Exchange through successful business combination with 468 SPAC
DGAP-News: tonies SE / Key word(s): Capital Increase/Corporate Action
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tonies SE starts trading on the Frankfurt Stock Exchange through successful business combination with 468 SPAC
Luxembourg, Düsseldorf - 29 November 2021 - tonies SE ("tonies"), a category-defining and leading international kid's digital audio entertainment company and the company behind the Toniebox player and Tonies audio figurines, announced today that the company's stock is now trading on the Frankfurt Stock Exchange under the ticker symbol "TNIE". Boxine GmbH ("Boxine") and 468 SPAC I SE, a Luxembourg special purpose acquisition company (SPAC) sponsored by Alexander Kudlich, Ludwig Ensthaler and Florian Leibert (General Partners of 468 Capital) closed their previously announced business combination on 26 November 2021 with the combined company now operating as tonies SE.
The business combination and related PIPE will result in gross proceeds of approximately EUR 190m for tonies. The proceeds are planned to be invested in further accelerating international growth, especially in the US, as well as product and platform expansion. The company expects around EUR 172m of revenue in 2021 and to reach approximately EUR 700m of revenue by 2025.
Patric Faßbender, Co-CEO of tonies SE: "Today's announcement is the start of a new chapter for tonies and I am particularly delighted to see what the company has achieved since I had the idea for the Toniebox almost 8 years ago - I would never have dreamt of such a success back then. As a listed company, we are now fully equipped to strengthen our category-leading position and introducing new and innovative entertainment solutions to kids across the globe."