The management board of German media company YFE plans to carry out a capital increase of up to 10% of its share capital, excluding shareholders’ subscription rights.
The new shares are to be placed with selected investors. Subject to final decisions of the management and supervisory boards, YFE plans to execute the capital increase in the first half of 2024.
Considering requirements under stock corporation law for setting the final placement price, the management board expects gross issue proceeds of up to approximately €5 million depending on the company’s share price in the specific period of the final decisions by the management and supervisory boards, this figure may deviate.
The company, which operates children’s channels Fix&Foxi and RiC TV, intends to use the proceeds from the capital increase to build up capacities and partnerships in the field of artificial intelligence (AI), for possible new productions from YFE’s IP catalogue, the further expansion of digital platforms (streaming/video-on-demand) and the pursuit of potential M&A transactions.