Peter Max
- CEO Partner
Transaction Description
Gemstone acted as financial advisor for Menupay in their rights issue. If the rights issue was fully subscribed Menupay would receive 23.0 MSEK, at a price of 1.40SEK per unit (one B-share plus one warrant), in order to finance and further accelerate the Company’s development and internationalisation. The issue was covered up to 75 per cent by existing shareholders and new investors through subscription commitments and underwriting. Five shares entitled the holder to subscribe for six units. The rights issue with preferential rights for shareholders was subscribed to a total of 101.6%. The oversubscription was handled through conversion of loan amounts in a separate directed issue to match the oversubscription of 258,700 shares in total, on the same terms as the rights issue. In this way, no subscribers were denied to receive shares.
Contact Person
Company Description
MenuPay was an international technology company, based in Denmark and listed in Sweden on Spotlight Stockmarket, that digitised the relationship between restaurants, businesses and their employees. With the MenuPay® service, users got inspired, booked a table, pay discreetly with a discount of up to 30 per cent, which also incurred a transaction fee of between 3-10% for MenuPay. More than 450 companies had joined, and more than 60,000 employees had registered for the service. MenuPay® created a win-win relationship where users generated more than 75,000 transactions annually at more than 650 quality restaurants, which in turn led to millions in savings for users and millions of kroner in extra revenue for the restaurants. MenuPay was registered with the Danish Danish Financial Supervisory Authority. MenuPay® was a registered trademark.
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