16 September 2020
•CM.com closed its equity offering comprising of 2,120,000 new ordinary shares, representing approximately 8% of the Company’s existing issued share capital
•The new shares have been successfully placed at a price of € 15.00 per share, resulting in gross proceeds of € 31.8 million
•Proceeds will be used to fund potential acquisition opportunities fueling CM.com’s accelerated growth strategy and for general corporate purposes

Breda, the Netherlands – CM.com (together with its subsidiaries, “CM.com” or the "Company" or “we”), a global Conversational Commerce platform has successfully raised € 31.8 million through an accelerated bookbuild offering (the “Offering”) of 2,120,000 new ordinary shares in the Company (the “New Shares”).

Transaction rationale
Prior to the Offering, CM.com had a cash position of over € 20 million1 and no external debt, providing sufficient funds for the ongoing rollout of our global growth strategy. Fueled by the changing environment, we have seen companies increase their investments in virtual customer communication and reshape their customer journeys with our technology as customer engagement has become critical in the current environment.

We currently also see attractive acquisition opportunities arise in the markets we operate, that could support the acceleration of the rollout of our global growth strategy. Our M&A team has identified a pipeline of potential acquisition targets that could complement our platform capabilities, create additional cross-sell opportunities and/or provide access to new (geographical) markets. Given our comprehensive Conversational Commerce proposition there are various funnels we can tap for potential value-adding acquisitions.

The proceeds of the Offering of € 31.8 million provide CM.com with sufficient financial flexibility to seize such potential acquisition opportunities in addition to the autonomous growth plans.

Jeroen van Glabbeek, Co-founder and CEO of CM.com: “I am glad to see such strong investor appetite for the offering. The proceeds enable us to fund potential new acquisitions in a changed world that is increasingly asking for smarter customer communication and customer engagement. I would like to thank all investors for their trust and confidence in our business and strategy.”

The Offering
The New Shares will be subject to an application for listing and admission to trading on Euronext Amsterdam under the symbol "CM.com" with ISIN code NL0012747059. Settlement of the transaction as well as admission to listing and trading of the New Shares are expected to take place on 18 September 2020. The New Shares will rank pari passu in all respects with the existing shares of CM.com and will be issued under the Company’s shareholder authorization as provided by the General Meeting and will be offered exclusively to qualified investors in the European Economic Area ("EEA") and the United Kingdom, to qualified institutional buyers in the United States pursuant to an applicable exemption from the registration requirements under the U.S. Securities Act of 1933, as amended (the "Securities Act") and outside the United States pursuant to Regulation S under the Securities Act, and to certain qualified investors in other jurisdictions.

In relation to the Offering, CM.com and the founders are subject to a market customary lock-up period ending 90 calendar days after the issue date, waivable by the Joint Global Coordinators and subject to certain customary exceptions, including, for CM.com, in relation to the issuance of shares to (partially) finance potential acquisitions within the remaining headroom available under the management board's current authority to issue shares. The two founders of the Company remain bound to a lock-up until February 2021 following the merger and listing in February 2020.

Advisory, syndicate and bookbuilding

ABN AMRO Bank N.V., Coöperatieve Rabobank U.A. (together with its distribution partner Kepler Cheuvreux S.A.) and Jefferies International Limited acted as Joint Global Coordinators and Joint Bookrunners in relation to the Offering.