Atom Hotels launches a capital increase of up to 79.7M euros

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

The capital increase aims to finance the purchase of the Isla Bonita and Riviera Marina hotels, both in the Canary Islands, for an amount of 52.6 million and 15.1 million euros, respectively.

Atom Hotels increases capital to finance the purchase of assets

Atom Hotels has launched a capital increase of up to 79.7 million euros to finance the purchase of the Isla Bonita de Las Palmas and Riviera Marina hotels in Santa Cruz de Tenerife.

The socimi will put 7.5 million new shares with a nominal value of one euro and an issue premium of 9.7 euros into circulation. The operation, with recognition of the pre-emptive subscription right, currently has an incomplete subscription forecast.

The company has reached an agreement to acquire the Isla Bonita hotel and the Riviera Marina hotel for an amount of 52.6 million and 15.1 million euros, respectively. The company has paid five million euros for the purchase of the assets and has pledged to pay the remaining amount, 62.7 million euros, no later than December 16.

Atom will also use this capital increase to access additional external financing sources, “always respecting the company's financial leverage policy,” according to the statement sent to the Alternative Stock Market (MAB).

The company has reached an agreement with Meeting Point Hotel Managements for the exploitation of both assets in the next 12.5 years, in addition to an extension of five years and a final extension of 2.5 years.

This article was written and published in Spanish and has been translated into English via Google Translate. Click here to read the original article.

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