Well at last. Seedrs have some good news for investors. We dont wish to damage the deal so wont be going into detail but shareholders in both rounds of Oppo will see a good if not spectacular return. Prefs not quite so much.
Seedrs have now put out their own PR claiming this as some massive success -so the figures are free to go -
Investors in Round one will get just over 4X return and investors in Round 2 ~2.5X. This is without S/EIS.
The buyer is HP Wild Holdings AG. The UK loses out.
According to the accompanying letter to SHs from the CEO of Oppo, the company was about to go under and this sales is a deal that no sensible person could refuse. Seedrs fail to mention this.
As returns go, it's ok but it aint Carling, as Seedrs would have the Press believe. More reasons for an independent platform giving out the real information as opposed to PR.
We will report back on the numbers once the deal is public (see above). Oppo in our opinion, have taken the sensible option and off loaded at a time when they required large new investment to maximise potential. The CEO's letter makes it clear that borrowing has rocketed just in order to stand still and that the offer for the business presents an excellent life line. I suppose it doesnt matter how SH's get their return so long as they get one. As in the Crowdcube case with Camden Brewery, where they chose to sell because they couldnt make progress alone, so this sale is the best option on offer. In fact the CEO is quite plain, in a May sort of way; it's this deal or curtains. No offence to the late Prime Minister or for that matter the CEO, who may well be very good looking.
Shareholders can opt to stay with the company which is good to see after all the dragging along that has been going on.
Good news for crowdfunding investors, the greater fool theory has worked for once. Bad news for whoever owns HP Wild Holdings AG as it sounds like they're buying a crock of vanilla flavoured junk.
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