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Jeantet advises Heights Capital Management in the context of its subscription to the reserved capital increase and the reserved issuance of bonds convertible into new shares and/or exchangeable for existing shares of Claranova

Cyril Deniaud , Benjamin Cohu

Paris, August 24, 2021 – Jeantet advised Heights Capital Management, a US institutional investment fund, in the context of the reserved capital increase without preferential subscription rights of €15 million and the reserved issuance of €50 million of bonds convertible into new shares and/or exchangeable for existing shares (OCEANE) of Claranova, a company listed on the regulated market of Euronext Paris, compartment B.

This share capital increase of €15 million has been subscribed on August 11, 2021 by Ophir Asset Management for €10 million and by Heights Capital Management for €5 million. It consisted in the issuance of a total of 2,142,857 new shares at €7.00 per share, representing 5.39% of Claranova’s share capital. In addition, on August 16, 2021, all the 3,846,154 OCEANE issued, with a par value of €13 each (involving a conversion premium of circa 86%), have been subscribed by Heights Capital Management for a total amount of €50 million.

The settlement-delivery of the new shares and their admission to trading on the regulated market of Euronext Paris occurred on August 13, 2021 (ISIN FR0013426004 / ticker CLA). The settlement-delivery of the OCEANE, which will not be admitted to trading on a financial market, occurred on August 23, 2021.

Claranova is a leader in personalized e-commerce (PlanetArt) and has a technological expertise in the areas of software publishing (Avanquest) and the internet of things (myDevices).

The main purpose of these issuances is to provide financings for the acquisition of Avanquest’s minority interests, valued at €98 million.

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Jeantet (legal advisor of Heights Capital Management): Cyril Deniaud (Partner, Capital Markets), Benjamin Cohu (Associate, Capital Markets).