OÜ Notorious to sell 11M shares in Wise
Wise plc (LON:WISE) today announced that OÜ Notorious, the private investment company of Taavet Hinrikus (co-founder and Chairman of Wise), intends to sell up to 11 million class A ordinary shares in Wise.
The Sale Shares under the Proposed Transaction represent approximately 1.1% of the issued A Shares in Wise. If the Sale Shares are sold in their entirety, OÜ Notorious will hold 92.6 million A Shares in Wise. The 54.0 million class B ordinary shares held by OÜ Notorious will not change as a result of the Proposed Transaction.
The Proposed Transaction is expected to be launched immediately, with the price to be set by way of an accelerated bookbuilding process, led by Goldman Sachs International.
In addition, Wise understands that OÜ Notorious intends to enter into a loan agreement with Goldman Sachs International Bank pursuant to which up to 49.6 million A Shares (with such final figure to be 49.6 million A Shares less the final amount sold by way of the Proposed Transaction), will be pledged under a security agreement between OÜ Notorious and Goldman Sachs International Bank.
Taavet is a successful Investor with a track record of over 100 European early stage investments. Wise understands that proceeds from the Proposed Transaction and loan will be invested in the next generation of global technology companies coming from Europe.