Energica signed an investment agreement with Ideanomics, Inc., a company incorporated under the law of Nevada, listed on the Nasdaq, for the subscription of Euro 10,909,091 equal to 64.17% of the share capital increase, with the exclusion of the option right pursuant to article 2441, paragraph 5, of the civ. code, approved by the Board of Directors on March 2, 2021 (please refer to the relevant press release) against the issue of no. 6,128,703 Energica ordinary shares. Upon completion of the subscription of the capital increase, the investor will hold a stake of at least 20% of the Company’s share capital. The subscription price was determined at Euro 1.78 per share, as a result of the weighted average of the official price of Energica shares recorded in the six months prior to the execution of the transaction.

Ideanomics is a global company that facilitates the adoption of commercial electric vehicles and supports next-generation financial services and fintech products. The company was founded in 2014 and is traded on NASDAQ. Ideanomics is building a new paradigm on emerging technology companies growth providing them a unified platform aimed at accelerate their growth while facilitating the global adoption of innovative technologies with significant economic or environmental benefits.

The settlement of the transaction will take place in the next few days and will be communicated in accordance with the law.

“We are proud to be part of this unified platform of which we fully share the vision”, says Livia Cevolini, CEO of Energica Motor Company S.p.A.
“The creation of a network of innovative companies can only accelerate the growth and adoption of new technologies such as sustainable mobility that sees us among the leaders. We are confident to make our contribution derived from decades of experience in the field of high-performing electric motorcycles “.
“The investment will give further strength to the Energica growth already underway in recent years thanks to the innovations brought to our products within the racing experience in MotoE.”

”Energica has combined zero emission EV technology with the pedigree of high-performance mobility synonymous with Italy’s Motor Valley to create a range of exceptional products for the high-performance motorcycle market. To support its products, it has developed proprietary EV battery and DC fast-charging in-house that has applications and synergies with our broader interests in the global EV sector. We were very impressed with Livia and her team throughout our discussions, and we are very pleased to support them through their next phase of growth” said Alf Poor, CEO of Ideanomics.

The agreement provides for a 90-day lock-up for the investor and a right of first refusal with respect to any further injections of risk capital into the Company in order to limit the dilution of the investors. In addition, an observer appointed by the investor may attend the meeting of the board of directors. If the assembly approves the proposal to introduce the right to convert ordinary shares into multiple voting shares, the investor will not proceed with the request for registration in the appropriate list.

First Europe assisted Energica as financial advisor. Nctm for the Company and by Venable LLP for Ideanomics, Inc acted as legal counsel. The bookrunner is Bestinver Securities.