Netherlands-based CM.com, cloud software for conversational commerce, announced that it has raised €100M through an offering of unsecured convertible bonds due 2026.
The bonds can be converted into ordinary shares in the capital of the company and will carry an annual coupon of 2.0 per cent. It will be payable semi-annually in arrears and in equal installments on 9 March and on 9 September, commencing on 9 March 2022.
It will have an initial conversion price of €53.30 representing a premium of 30 per cent over the clearing price of a share in the concurrent placement.
The bonds of €100,000 each were issued under the company’s current shareholder authorisation provided at an annual general meeting held on 30 April 2021.
CM.com will apply for the bonds to be admitted to trading on the open market (Freiverkehr) of the Frankfurt Stock Exchange no later than 30 days after the issue date (9 September 2021).
Use of the capital
With the proceeds from the bond offerings, the company will be able to enhance its organic growth and have the financial flexibility to act on strategic opportunities that may arise to further accelerate growth.
The principal shareholders have also informed the company that they have organised, concurrently with the placement of the bonds, a simultaneous sale of 250,000 existing shares representing approx 0.9 per cent of the share capital of the company.
The principal shareholders will use the proceeds to purchase real estate in Breda, The Netherlands, and develop these buildings to facilitate possible future expansion of CM.com’s headquarters.
About CM.com
Founded in 1999 by Jeroen van Glabbeek and Gilbert Gooijer, the company connects people and businesses via telecom operators, worldwide payment providers, and messaging channels. It is a listed company (Euronext Amsterdam: CMCOM) and provides conversational commerce services from its cloud platform.
CM.com provides messaging and voice channels such as SMS, Over The Top (OTT) (e.g. WhatsApp Business, Apple Business Chat, Google RCS, Facebook Messenger, and Viber), Voice API, and SIP. These messaging channels can be combined with cloud platform features, like Ticketing, eSignature, Customer Contact, identity services, and a Customer Data Platform.
The company currently employs about 550 people in 20 countries.
Recent developments
Last month, CM.com announced a strategic partnership with UK-based fintech company Phos Services Limited (Phos). The Dutch company also invested €2M in Phos to help expand its services in the US as well as grow its development team.
Prior to that in July, CM.com acquired TraceDock, a privacy-friendly first-party data collection service. With this acquisition, the company wants its customers to further optimise their contact with unknown website visitors.
And in March 2021, the Netherlands-based company acquired Amsterdam-based PayPlaza, a point of sale (POS) payment acceptance platform. According to CM.com, this acquisition forms the next step for it to offer omnichannel communications and payments solutions from one single platform.
