RE: We shop IPO could be worth huge $$$ to WCAP23 Jun 2025 19:34
Post period end, on 25 November 2024, WeCap announced that it had converted all CLNs it held in WeShop into 3,208,333 new ordinary shares (“Conversion Shares”). Following the conversion of these CLNs, WeShop now has 31,937,969 ordinary shares in issue. The WeCap equity interest therefore represents approximately 10.05% of the WeShop issued share capital.
In addition to the equity holding outlined above, should CSIL make a distribution in specie of its WeShop shares to CSIL’s shareholders, the Directors believe that WeCap would receive up to a further 1,958,333 new ordinary shares in WeShop, increasing WeCap’s equity interest in WeShop to a total of 5,179,090 ordinary shares representing approximately 16.2% of WeShop’s issued share capital.
Based on the issue price of WeShop’s ordinary shares in the last equity raise completed by WeShop at £4.76 per share, the see through value of WeCap exposure in WeShop would be approximately £24.6m.