Amsterdam-based charging company Fastned has raised 150 million euros through a so-called accelerated bookbuild offering. The offering consists of 1,875,000 new securities placed at 80 euros each, representing approximately 12.5 percent of the existing issued share capital. Proceeds will be used to expand and enhance the company’s network and secure key locations in its existing geographic footprint and beyond, in the coming 18-24 months.
“This successful capital raise allows Fastned to significantly accelerate its expansion plans,” says CEO Michiel Langezaal. “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 of our continued growth, and in line with our ambition to become the leading fast-charging network in Europe.”