Draper Esprit PLC UiPath Inc, announces pricing of IPO (1852W)
21 Abril 2021 - 05:35AM
UK Regulatory
TIDMGROW
RNS Number : 1852W
Draper Esprit PLC
21 April 2021
Draper Esprit Plc
("Draper Esprit", the "Group" or the "Company")
UiPath Inc, announces pricing of IPO
Draper Esprit (LSE: GROW, Euronext Growth: GRW), a leading
venture capital firm investing in and developing high growth
digital technology businesses, today notes that UiPath has
announced the pricing in relation to its $29bn initial public
offering. The shares are expected to begin trading on the New York
Stock Exchange under the ticker symbol "PATH" on 21 April 2021, and
the offering is expected to close on 23 April 2021, subject to
customary closing conditions.
The Company last provided an update on the gross fair valuation
of its holding in UiPath on 2 February. Based on the IPO price,
Draper Esprit's gross fair value (before carry deductions) is
approximately GBP100 million (using a GBP/USD 1.3767 year-end 31
March 2021 exchange rate). This is an uplift of GBP63 million to
the September 2020 fair value of GBP37 million.
As previously notified, the Company will release a trading
update for the full year on Monday, 26 April 2021.
-ENDs-
Enquiries
Draper Esprit plc
Martin Davis (Chief Executive
Officer)
Ben Wilkinson (Chief Financial
Officer) +44 (0)20 7931 8800
Numis Securities
Nominated Adviser & Joint Broker
Simon Willis
Richard Thomas
Jamie Loughborough +44 (0)20 7260 1000
Goodbody Stockbrokers
Euronext Growth Adviser & Joint
Broker
Don Harrington
Charlotte Craigie
Linda Clarke +44 (0) 20 3841 6202
Powerscourt
Public relations
Elly Williamson +44 (0)7970 246 725 /
Donjeta Miftari +44 (0)7961 628 862
About Draper Esprit
Draper Esprit is one of the most active venture capital firms in
Europe, investing in disruptive, high
growth technology companies. We believe the best entrepreneurs
in Europe are capable of building
the global businesses of the future. We fuel their growth with
long-term capital, access to
international networks and decades of experience building
businesses.
Currently, Draper Esprit is a shareholder in a diverse portfolio
of 67 companies with 15 of those part
of our core portfolio which accounts for over 60% of our
holdings. Our core companies include
UiPath, Aircall, Graphcore and Revolut. We invest across four
sectors: Consumer Technology,
Enterprise Technology, Hardware and Deeptech, and Digital Health
and Wellness, with highly
experienced partners constantly looking for new opportunities in
each. We look for high-growth
companies with strong IP, powerful technology, and the
management teams to deliver success.
They operate in new markets, with serious potential for global
expansion. We also look for
businesses with the potential to generate strong margins to
ensure rapid, sustainable growth in
substantial addressable markets.
Draper Esprit provides an opportunity for public market
investors to access these fast-growing tech
businesses, without having to commit to long term investments
with limited liquidity. Since IPO in
June 2016, we have deployed circa GBP500m+ capital into fast
growing technology companies and
have realised over GBP300m. In October 2020 we raised gross
proceeds of circa GBP110m to help us
capitalise on a European VC market which is expanding rapidly
but is still less than one quarter of
the combined size of the US and European market by value. It
will also allow us to capitalise on the transition to a digital
future that has been given added impetus as a result of the recent
pandemic.
For more information, go to https://draperesprit.com/
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April 21, 2021 06:35 ET (10:35 GMT)
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