LONDON–(BUSINESS WIRE)– Regulatory News:
MotorK PLC (AMS: MTRK) (“MotorK”, the “Group” or the “Company”), a leading SaaS provider to the automotive retail industry in the EMEA region, today announced a reserved capital increase of €4.8 million.
Major strategic investors, including 83 North and Lucerne Capital Management, participated in this round, reaffirming their commitment to the Group’s strategy and long-term vision. This capital injection is aimed at strengthening the Group’s financial position, supporting MotorK’s commitment to reach a Cash EBITDA positive position by the end of FY25.
The reserved capital increase, based on a price per share of €3.00, results in the issue of 1,614,333 new ordinary shares. In addition, these newly-issued shares will be subject to a 12-month lock-up period, underlining the investors’ long-term vision and dedication to the Group’s success.
Amir Rosentuler, Executive Chairman of MotorK said: “Our long-term investors’ continued support is a strong signal that we are on the right track towards our profitability and growth targets. We are grateful for the trust placed in us, and we remain focused on delivering value while staying true to our objectives”.
About the Investors
83North Ltd : 83North is a global venture capital firm with over $2.2B under management. The fund invests across all stages in exceptional entrepreneurs focused on building global category leading companies.
Lucerne Capital Management LP : Lucerne is an investment firm specializing in fundamental, bottom-up stock selection with a focus on European markets. The firm manages approximately $500 million in assets. Lucerne’s expertise is a combination of four decades of experience in European equity research and a repeatable private equity investment style with tactical trading around value dislocations.
Next Publication
MotorK will now publish its Annual Report on 11 April 2025, instead of 4 April 2025, as originally stated in the Financial Calendar published in December on the Company’s website.
