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TaTaTu S.p.A. Tatatu S.p.A. Registered office: Via Barberini no. 29, 00187 – Rome, Italy
PRESS RELEASE
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO
ADMISSION TO TRADING OF TATATU S.P.A. ON EURONEXT GROWTH PARIS
Rome, 17 October 2022 – Tatatu S.p.A. (the “Company”) that owns TaTaTu, the first social media and entertainment app to reward users for the value they help generate by spending time on the platform, announces its intention to list its shares on Euronext Growth Paris, Private Placement segment. Trading of the shares on Euronext Growth Paris is expected to commence on 19 October 2022. The admission to trading of the shares on Euronext Growth Paris was requested following a private placement conducted prior to the listing.
Andrea Iervolino, founder and Chief Executive of Tatatu S.p.A. commented: “I founded TaTaTu with a clear and innovative vision: social media users ought to be rewarded for the value they help creating by spending time online. We are embarking on a crucial and exciting phase of our development towards forever changing the relationship between social media users, their data and the online world through the reward feature, while also bridging the online and physical worlds with the redeem concept. The listing on Euronext Growth Paris will contribute to increase TaTaTu’s visibility worldwide and will enhance our access to capital markets as we implement our strategic plan with the ambition to become one of the world’s must-use social media and entertainment platforms, and also the first case of what I call the “sharing economy of data”, connected with a circular economy. With a highly differentiated business model and an expert team of professionals, I am confident that we will build a vast and loyal TaTaTu community, enhancing social media engagement thanks to our unique proposition and raising social and environmental awareness through original media content. As we open an exciting new chapter of our corporate journey, I would like to take the opportunity to thank our teams for their dedication and our shareholders for their support.”
OVERVIEW OF THE COMPANY
TaTaTu is the first social media and entertainment app to reward users for the value they help generate by spending time on the platform. Users receive TTU Coins for viewing content and social media interactions. They can post photos and videos and earn more TTU Coins when someone likes, comments, views, or shares a post or when users invite a friend. Rewards can be redeemed by bidding at auctions to win exclusive products and experiences, on TaTaTu’s e-commerce site, and soon nearby at selected locations through affiliated merchants. TaTaTu cares about its users, not only by rewarding them, but also by offering them direct or indirect access to original content with an important focus on culture, inclusion, gender equality and sustainability, thereby enhancing social media engagement and fostering social and environmental awareness.
The Company’s vision is that sharing value among the various players that are active in the social media environment, namely (i) the platform, (ii) the content producers and (iii) the viewers, constitutes a new and fair approach to business, which the Company expects will be recognized and appreciated by users. Such an innovative approach is the cornerstone of the Company’s vision of a “sharing economy”.
The Company is controlled by IA Media, which holds 96.65% of its share capital. The Company’s founder and CEO Andrea Iervolino is the ultimate beneficial owner of IA Media.
KEY STRENGTHS OF THE COMPANY
TaTaTu is the first and only European social network built on a committed manifesto: rewarding its users
Disruptive business model stemming from the founder’s creative DNA and anticipating the convergence of entertainment, education and e-commerce, both live and digital
In-house developed technology and innovative mind-set offering best UX and functionalities
Solid business profile, already at breakeven with strong and diversified monetization strategy, including:
Leveraging on a highly creative management team experienced in the digital and entertainment industry
Additional information on the Company, including its strategy and ambitions, can be found in the Information Document available on the website of Tatatu S.p.A.
DETAILS OF THE ADMISSION TO TRADING
The reference price of the shares on the date of admission for trading on Euronext Growth Paris is €2.00, equals to the subscription price of a private placement conducted prior to the listing. Thus, the market capitalization of the Company will be approximately €1.6bn at the date of the listing. Such price was determined based on a variety of factors, including a valuation report prepared at the Company’s request by a consulting firm of international reputation and result from contractual negotiation between the parties of the private placement; it is not an indication of the market price of the shares following their admission to trading on Euronext Growth, which may vary substantially from such price.
Subject to certain exceptions, the following lock-up periods have been agreed:
Additional information on the specific exceptions to the lock-ups, can be found in the Information Document available on the website of Tatatu S.p.A. The Company and Portzamparc have entered into a listing sponsor agreement pursuant to which Portzamparc has agreed to assist the Company (i) as its listing sponsor in connection with the listing of the shares on Euronext Growth and (ii) with reporting and other post-listing obligations.
The Company and Exane SA have entered into a liquidity contract, in compliance with the Autorité des marchés financiers decision no. 2021-01 dated 22 June 2021, on the renewal of liquidity contracts on equity securities as permitted market practice. This liquidity contract will become effective on the date of listing. The Company has made available to Exane SA an amount of €200,000.
BNP Paribas acted as Equity Advisor to the Company.
About TaTaTu TaTaTu is the first social media and entertainment app to reward users for the value they help generate by spending time on the platform. Users receive TTU Coins for viewing content and social media interactions. They can post photos and videos and earn even more TTU Coins when someone likes, comments, views, or shares a post or when users invite a friend. Rewards can be redeemed by bidding at auctions for the chance to win exclusive products and experiences, on TaTaTu’s e-commerce site, and soon nearby at selected locations through affiliated merchants. TaTaTu cares about its users, not only by rewarding them, but also by offering them direct or indirect access to original content with an important focus on culture, inclusion, gender equality and sustainability, thereby enhancing social media engagement and fostering social and environmental awareness. Tatatu S.p.A. was founded in 2020 by renowned film producer Andrea Iervolino. https://corporate.tatatu.com/en/
For further information H/Advisors Havas Paris for TaTaTu Aliénor Miens | alienor.miens@havas.com | +33 6 64 32 81 75 Philippe Ronceau | philippe.ronceau@havas.com | +33 6 76 44 44 35
Disclaimer This announcement does not, and shall not, in any circumstances constitute a public offering nor an invitation to the public in connection with any offer. No communication and no information in respect of this transaction or of TaTaTu may be distributed to the public in any jurisdiction where a registration or approval is required. No steps have been or will be taken in any jurisdiction where such steps would be required. The issuance, the subscription for or the purchase of Tatatu’s shares may be subject to specific legal or regulatory restrictions in certain jurisdictions. TaTaTu assumes no responsibility for any violation of any such restrictions by any person. The information document approved by Euronext Growth Paris is available on the Euronext website (https://www.euronext.com) and the company’s website dedicated to the listing (https://corporate.tatatu.com/en/). TaTaTu draws the public’s attention to the risk factors set out in chapter 5 of the information document. The realization of one or more of such risks may have a material adverse effect on the Group’s activities, reputation, financial position, results or outlook, and on the trading price of TaTaTu’s shares. In France and Italy, an offer of securities to the public may only be made pursuant to a prospectus approved by the Autorités des Marchés Financiers or the Commissione Nazionale per le Società e la Borsa, respectively. With respect to the member States of the European Economic Area (each, a “relevant member State”), including France and Italy, no action has been undertaken or will be undertaken to make an offer to the public of the shares requiring a publication of a prospectus in any relevant member State. Consequently, the securities cannot be offered and will not be offered in any member State, except in accordance with the exemptions set out in Article 1(4) of the Prospectus Regulation, or in the other case which does not require the publication by TaTaTu of a prospectus pursuant to the Prospectus Regulation and/or applicable regulation in the member States. This press release does not constitute an offer of the securities to the public in the United Kingdom. The distribution of this press release is not made, and has not been approved, by an authorized person (“authorized person”) within the meaning of Article 21(1) of the Financial Services and Markets Act 2000. As a consequence, this press release is directed only at persons who (i) are located outside the United Kingdom, (ii) have professional experience in matters relating to investments and fall within Article 19(5) (“investment professionals”) of the Financial Services and Markets Act 2000 (Financial Promotions) Order 2005 (as amended) and (iii) are persons falling within Article 49(2)(a) to (d) (high net worth companies, unincorporated associations, etc.) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (all such persons together being referred to as “Relevant Persons”). The securities of TaTaTu are directed only at Relevant Persons and no invitation, offer or agreements to subscribe, purchase or otherwise acquire the securities of TaTaTu may be proposed or made other than with Relevant Persons. Any person other than a Relevant Person may not act or rely on this document or any provision thereof. This press release is not a prospectus which has been approved by the Financial Conduct Authority or any other United Kingdom regulatory authority for the purposes of Section 85 of the Financial Services and Markets Act 2000. This press release does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States or any other jurisdiction. Securities may not be offered or sold in the United States unless they have been registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), or are exempt from registration. The shares of TaTaTu have not been and will not be registered under the U.S. Securities Act and TaTaTu does not intend to make a public offer of its shares in the United States. The distribution of this document in certain countries may constitute a breach of applicable law. The information contained in this document does not constitute an offer of securities for sale in Canada, Australia or Japan. This press release may not be published, forwarded or distributed, directly or indirectly, in the United States, Canada, Australia or Japan. Forward-Looking Statements Certain information included in this press release are not historical facts but are forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding present and future strategy and the environment in which TaTaTu operates, and involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements, or industry results or other events, to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include those set out and detailed in Chapter 5 “Risk factors related to the Group” of the information document. Forward-looking statements speak only as of the date of this press release and TaTaTu expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements included in this press release to reflect any change in expectations or any change in events, conditions or circumstances on which these forward-looking statements are based. Forward-looking information and statements are not guarantees of future performances and are subject to various risks and uncertainties, many of which are difficult to predict and generally beyond the control of TaTaTu. Actual results could differ materially from those expressed in, or implied or projected by, forward-looking information and statements.
Regulatory filing PDF file File: ADMISSION TO TRADING OF TATATU S.P.A. ON EURONEXT GROWTH PARIS |
| Language: | English |
| Company: | TaTaTu S.p.A. |
| Via Barberini, 29 | |
| 00187 Rome | |
| Italy | |
| E-mail: | danilo@tatatu.com |
| Internet: | www.tatatu.com |
| ISIN: | IT0005507857 |
| Euronext Ticker: | ALTTU |
| AMF Category: | Inside information / Issuer activities (acquisitions, sales...) |
| EQS News ID: | 1464625 |
| End of Announcement | EQS News Service |
1464625 17-Oct-2022 CET/CEST
