===
2CRSi SA
2CRSi SA: 2CRSi announces the launch of a EUR8 to EUR12 million round of financing to accelerate its growth in the
Artificial Intelligence server market
13-March-2024 / 18:03 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
2CRSi announces the launch of a EUR8 to EUR12 million round of financing to accelerate its growth in the Artificial
Intelligence server market

. Fundraising of approximately EUR8 million, which may be increased to EUR12 million, comprising (i) an offer
to qualified investors via the accelerated construction of an order book and (ii) a public offer to retail
investors via the PrimaryBid platform on the same financial terms as the Private Placement share.

. Irrevocable subscription commitments from shareholders and co-founders Alain Wilmouth and Michel Wilmouth
totalling EUR1m

. Closing of the PrimaryBid offer on 13 March 2024 at 10pm and of the offer to qualified investors on 14
March 2024 before market opening (subject to early closing)
Strasbourg (France), 13 March 2024 - 2CRSi (ISIN: FR0013341781) (the "Company"), the leader in the design and
manufacture of energy-efficient high performance IT servers, today announces the launch of fundraising for a targeted
total amount of approximately EUR8 million which could be increased to approximately EUR12 million in case of sufficient
demand (the "Global Offering") consisting of (i) an offering to qualified investors via the accelerated bookbuilding
(the "Private Placement") and (ii) a public offering to retail investors via the PrimaryBid platform (the "PrimaryBid
Offering").
Alain Wilmouth, Founder and Chairman & Chief Executive Officer, commented on the transaction: "With two decades of
experience in developing and manufacturing high-performance, energy-efficient servers, 2CRSi has achieved record orders
since the end of 2023. The rise of artificial intelligence positions us perfectly to capture market opportunities
driven by significant economic and environmental challenges. Our agility and innovative strength have established us as
a global leader, making 2CRSi the first French "Solutions Integration Partner" to receive Nvidia's Elite Partner
certification. Fueled by the enthusiasm and commitment of our teams, we anticipate that 2024 will be a pivotal year. We
hope that our outlook, bolstered by our strong order book, will continue to be supported by our current shareholders
and attract new investors with today's capital increase initiative. Our ambitious goal for the 2025-2026 fiscal year is
to exceed 300 million euros in consolidated revenue with an EBITDA margin over 12%."
Reasons for the Global Offering
The fund-raising, based on a target amount of around EUR8 million, which can be increased to around EUR12 million if there
is sufficient demand, should provide 2CRSi with additional equity to increase its sales of servers for artificial
intelligence (AI), by securing its supplies of NVIDIA components to equip servers.
This market, in which 2CRSi enjoys international recognition, is being driven by an explosion in global demand for
high-performance server technology solutions and hosted computing power. As a result, a new development cycle has begun
for 2CRSi, characterised by an acceleration in billings and an increase in order intake over the last few months.
This solid momentum confirms the targets set for the current 16-month financial year to close on 30 June 2024
(2023-2024 financial year): the achievement of consolidated revenue of more than EUR150 million combined with an EBITDA
margin of more than 3%. Recent progress is also in line with the ambitions announced for the 2025-2026 financial year,
i.e. consolidated revenue of more than EUR300 million and an EBITDA margin of more than 12%.
Terms and conditions of the Global Offering
In accordance with the decisions taken by the Board of Directors held on 13 March 2024, the Global Offering will be
carried out through two separate but concurrent offers:
. A private placement with qualified investors in accordance with Article L. 411-2 of the French Monetary
and Financial Code, in France and outside France, with the exception of certain countries, particularly the United
States of America, according to the procedure known as the accelerated bookbuilding process (in accordance with the
10^th resolution of the Combined General Meeting of 30 November 2023); and
. A public offering intended for individuals via the PrimaryBid platform (in accordance with the 9th
resolution of the Combined General Meeting of 30 November 2023), which will be made on the basis of an allocation
proportional to demand within the limit of the amount allocated to this public offering, with a reduction in
allocations in the event of excess demand, under the same financial conditions as the Private Placement
The price per share of the Private Placement will be equal to a discount of 20% compared to the volume-weighted average
price of the 2CRSi share over the last three trading sessions preceding the setting of the issue price (i.e. 11, 12 and
13 March 2024). The subscription price of the new shares under the PrimaryBid Offering will be equal to the price of
the new shares offered under the Private Placement.
The amount of the Global Offering will depend exclusively on the orders received for each of the aforementioned
components without the possibility of reallocating the amounts allocated from one to the other. It is specified that
the PrimaryBid Offering intended for individuals is ancillary to the Private Placement and that it will represent a
maximum of 20% of the amount of the Private Placement, up to a limit of EUR8 million. In any event, the PrimaryBid
Offering will not be completed if the capital increase as part of the Private Placement is not completed. The Private
Placement is not subject to the PrimaryBid Offering.
The accelerated bookbuilding process for the Private Placement will begin immediately after the publication of this
press release and will end before the markets open on [14] March 2024, subject to early or late closure. The PrimaryBid
will commence immediately and close today at 10:00 p.m. CET, subject to early closure.
The final number of shares to be issued will be decided by the Company's Chairman and Chief Executive Officer at the
end of the Global Offering, by virtue of and within the limits of the sub-delegations of authority granted by the Board
of Directors and in accordance with the 9th and 10th resolutions of the Combined General Meeting of 30 November 2023.
The settlement-delivery of the new ordinary shares to be issued as part of the Global Offering and their admission to
trading on the Euronext Growth® Paris market are scheduled for 18 March 2024. The new shares will be of the same class
and will be fungible with the existing shares, will benefit from all the rights attached to the existing shares and
will be admitted to trading on the Euronext Growth® Paris market under the same ISIN code FR0013341781.
Subscription commitments
Prior to the launch of the Global Offering, Alain Wilmouth, shareholder, co-founder and CEO of 2CRSi, has irrevocably
undertaken to place a subscription order in the Global Offering for a total amount of EUR950k, of which EUR650k by
offsetting receivables via his holding company HAW (Holding Alain Wilmouth), and directly for an amount of EUR300k in
cash, it being specified that the latter commitment could be reduced in the event of a strong oversubscription.
Michel Wilmouth, a shareholder and co-founder of 2CRSi, has irrevocably undertaken to place a subscription order in the
context of the Global Offer, on a personal basis and by offsetting debts, for an amount of EUR50k.
Together, these subscription commitments represent a total amount of EUR1 million.
Holding and lock-up commitments
As part of the Global Offering, the co-founding shareholders, Alain Wilmouth (co-founder and CEO of 2CRSi, directly and
indirectly holding 59% of the share capital prior to the Global Offering, and Michel Wilmouth (co-founder of 2CRSi,
holding 4.5% of the share capital prior to the Global Offering) reiterated their vision and commitment to 2CRSi by
making a 270-day lock-up commitment for all the securities that they will hold after the Global Offering, subject to
the usual exceptions.
In addition, the Company has undertaken not to issue shares or securities giving access to the capital for a period of
180 calendar days following the settlement-delivery date of the Global Offering, subject to certain usual exceptions.
Eligibility of the Global Offering for the 150-0 B ter scheme of the French General Tax Code (reinvestment of capital
gains) and for the PEA and SME-ISE PEA
The Company is eligible for the provisions of Article 150-0 B ter of the French General Tax Code (reinvestment of
proceeds from sale). Investors who may benefit from this regime should consult their usual tax adviser in order to
assess their personal situation with regard to the specific applicable regulations.
Finally, the Company reiterates that it complies with the eligibility criteria for the SME-ISE PEA as specified by the
provisions of Articles L. 221-32-2 and D.221-113-5 et seq. of the French Monetary and Financial Code. As a result,
2CRSi shares can be fully integrated into equity savings plans (PEAs) and PME-ISE PEA accounts, which enjoy the same
tax benefits as a traditional PEA.
Intermediaries
Portzamparc - BNP Paribas Group and Gilbert Dupont - Societe Generale Group act as Global Coordinators & Joint
Bookrunners.
Jeantet acts as legal advisor and SEITOSEI.ACTIFIN Financial & Corporate Communication as financial communication
advisor.
Subscription to the PrimaryBid
As part of the PrimaryBid Offering, investors may only subscribe through the PrimaryBid partners mentioned on the
===
(MORE TO FOLLOW) Dow Jones Newswires

March 13, 2024 13:04 ET (17:04 GMT)