Proposed secondary placing and loan of A shares
Wise plc
21 October 2021
Proposed secondary placing and loan of Director's class A ordinary shares in Wise plc
Wise plc ("Wise") announces that it has been advised by OÜ Notorious, the private investment company of Taavet Hinrikus (co-founder and Chairman of Wise), of its intention to sell up to 11 million class A ordinary shares ("A Shares") in Wise (the "Sale Shares" and the "Proposed Transaction").
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.
ENDS
Enquiries
Martin Adams - Head of Owner Relations
martin.adams@wise.com
Abigail Daniels - Global Head of Public Relations
press@wise.com
Brunswick Group
Charles Pretzlik / Sarah West / Samantha Chiene
Wise@brunswickgroup.com
+44 (0) 20 7404 5959
About Wise
Wise is a global technology company, building the best way to move money around the world. With the Wise account people and businesses can hold over 50 currencies, move money between countries and spend money abroad. Large companies and banks use Wise technology too; an entirely new cross-border payments network that will one day power money without borders for everyone, everywhere. However you use the platform, Wise is on a mission to make your life easier and save you money.
Co-founded by Kristo Kärmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise. It is one of the world's fastest growing tech companies and is listed on the London Stock Exchange under the ticker, WISE.
11 million people and businesses use Wise, which processes over £5.5 billion in cross-border transactions every month, saving customers over £1 billion a year.
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