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Bulgaria’s ImPulse I Plans Cap Hike, Rebrand

Bulgarian investment firm ImPulse I [BUL:IMP] said on Friday that it will seek approval from its shareholders to increase its capital to 50 million levs ($27.1 million/25.6 million euro) by issuing warranties within five years, and to change its name.

Shareholders will vote on authorising the board to raise capital through warranty issuances and to approve the change of the company’s name to ImPulse Growth, the investment firm said in a bourse filing.

The extraordinary general meeting is scheduled for November 21.

The current registered capital of ImPulse I is about 5.92 million levs, distributed among 5,924,264 Class A shares, one Class B share, and one Class C share, all with a par value of 1 lev each.

To be eligible to vote, investors must have obtained shares in the company before November 7.

ImPulse I, which trades on the BEAM growth segment of the Bulgarian Stock Exchange, has made investments in US-based Storied Data, Bulgarian-controlled Excitel, IoT products maker Shelly Group [BUL:SLYG], logistics company Discordia, cybersecurity firm SoCyber and biometric identification technology developer Biodit [BUL:BDT].

Revenues from investments in startups in Impulse I and Impetus Capital’s portfolio booked 124% growth in the past 12 months, while revenue from large growth companies rose 38%, the company said in June.

Earlier in October, the firm’s ImVenture II fund invested 100,000 euro ($105,912) in Germany-based financial services platform Tapline UG.

Shares in ImPulse I last traded at 1.25 levs on the Bulgarian Stock Exchange on Thursday.

(1 euro = 1.95583 levs)

Source : Seenews