LETT assisted the Danish online fashion shop Stylepit A/S in capital increase earlier this year.
Stylepit is the largest Danish online fashion shop, and the company was listed in 2012. Since its listing, Stylepit has seen fluctuating and, over recent years, severely negative results and continuous management changes. This spring, LETT assisted Stylepit in solving the challenges facing it.
In line with this, N.E. Nielsen was, on 23 June 2015, elected Chairman of the Board of Directors of the company, and, at the same time, the General Meeting authorised the Board of Directors to carry out a capital increase by a pre-emption issue.
On Monday 10 August 2015, Stylepit published its prospectus in order to carry out the capital increase. The prospectus was prepared according to the "fast-track" model referred to in LETT's publication (in Danish) "IPOs in Denmark" from 2014. The subscription period ended on 26 August 2015, and, on 28 August 2015, Stylepit announced that the capital increase was fully subscribed.
LETT assisted Stylepit in implementing the total financial solution, preparing the prospect and, in that process, in the coordination between the other advisors, banks, Nasdaq, the Danish Financial Supervisory Authority and Stylepit.