German and international kids channel provider Your Family Entertainment (YFE), operator of the Fix&Foxi channel, is to raise €1.44 million to finance expansion in digital platforms and streaming.
YFE has unveiled a plan to carry out a capital increase with subscription rights and additional subscription options for shareholders, who will be offered up to 1,029,545 new shares at a subscription price of €1.40 each with an option to pay more is granted. Shares not purchased by existing shareholders will be offered to selected investors for subscription as part of a private placement, whereby the placement price in the private placement is EUR 1.70 per new share.
With a full placement, YFE would receive gross issue proceeds of around €1.44 million, which it said it would use to finance expansion of digital sales platforms, apps and its own online channels, as well as for the further development of direct-to-consumer streaming.
YFE will be accompanied in this capital increase by Small & Mid Cap Investment Bank AG of Munich, which will present the shares of YFE to selected, potential investors.
“We now have great opportunities to benefit from growing media consumption during the crisis, from the streaming / video-on-demand boom and new digital business models. The positive impact of our educational, non-violent and award-winning content helps to benefit children and families worldwide. Parents increasingly recognize series and games that are free of meaning and glorify violence as a problem. War is not the star for us,” said Stefan Piëch, CEO of Your Family Entertainment.
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