Proposed Secondary Placing in TBTG
Pre-IPO shareholders placing approximately 8.8 million shares, representing 7.9% of issued share capital.
- Placing shares approximately 8.8 million
- Percentage of issued share capital approximately 7.9%
- Par value per share 10 pence
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PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.
Proposed Secondary Placing of Ordinary Shares in The Beauty Tech Group plc
("TBTG" or the "Company")
Under the terms of the lock-in arrangements entered into by the pre-IPO shareholders in the Company (excluding the Directors and the Senior Manager) ("Pre-IPO Shareholders"), as set out in the Company's prospectus dated 24 September 2025 ("Prospectus"), all Pre-IPO Shareholders have been invited to participate in a block trade managed by Joh. Berenberg, Gossler & Co. KG, London Branch ("Berenberg" or the "Bookrunner").
Following this invitation, certain Pre-IPO Shareholders (the "Sellers"), which, for the avoidance of doubt, do not include the Directors or the Senior Manager who are restricted from participating in the Placing in accordance with the terms of their lock-in arrangements, have given indications to sell, in aggregate, up to approximately 8.8 million ordinary shares of 10 pence each in the capital of the Company, equal to approximately 7.9% of the Company's issued share capital (the "Placing Shares").
The Company, in its capacity as agent to the Sellers, has appointed Berenberg as sole bookrunner in relation to the Placing. The Company will not receive any proceeds from the Placing.
The timing for the close of the bookbuild process is at the absolute discretion of the Bookrunner. The results of the Placing will be announced as soon as practicable thereafter.
In relation to the Sellers only, the Company and Berenberg have agreed to a partial release from the lock-in entered into with the Sellers at the time of the Company's IPO (which is due to expire on 25 May 2026) in order to facilitate the Placing and with a view to increasing the free float and therefore trading liquidity in the Company's shares. The Sellers have, however, each agreed not to sell or otherwise dispose of any of their residual holding of ordinary shares in the Company for 90 days after settlement of the Placing, subject to certain customary exceptions and/or waiver by Berenberg and the Company.
The six month orderly market arrangement entered into at the time of the Company's IPO will continue to apply to both the Sellers and the other Pre-IPO Shareholders in line with its original terms, that is for six months following the expiry of the original lock-in on 25 May 2026.
Terms not defined in this announcement shall have the meaning given in the Prospectus.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.