NFON AG receives EUR 26 million from a capital increase to finance its growth

1,505,555 new shares successfully placed with institutional investors
Gross issue proceeds of EUR 26.3 million to finance growth
Investments planned in the areas of product development, partner management and marketing, in particular

Munich, 26 March 2021 – #nfon AG (together with its subsidiaries "NFON" or "the Company"), the only pan-European cloud PBX provider (telephone system from the cloud), has placed 1,505,555 shares with institutional investors via an accelerated bookbuilding process at a placement price of 17.50 EUR per share. This equates to gross issue proceeds of 26,347,212.50 EUR. The shares were made available to Berenberg as the transaction bank by an anchor shareholder by way of a securities loan for the purpose of efficient execution of the placement. This will be repaid after registration of an increase of the share capital of the Company by 1,505,555 new shares, which represents approximately 10% of the current share capital, by a partial use of its authorized capital. Shareholders' subscription rights were excluded in the process. The net proceeds from the issue of the new shares are to be invested in the further growth of the Company, in particular in the further development of the product portfolio through internal development projects or technology investments, the expansion of the pan-European partner network as well as in marketing activities.

The market for cloud communications is undergoing structural change. 2020 was a catalyst for this development. #nfon is benefiting from the increasing digitalization of business communication with Cloudya, the telephone system from the cloud. The Company intends to take advantage of the opportunities this presents for #nfon throughout Europe in order to grow much more strongly. Dr. Klaus von Rottkay, Chief Executive Officer of #nfon AG: "The market for cloud telephone systems in Europe is growing at an average rate of around 12%. We want to exceed this target very clearly. That is why we will again invest significantly more in 2021 and set the course for further growth. In concrete terms, this means we will continue to optimize the partner management of our more than 2,700 partners in order to further expand our base of already more than 500,000 customer-installed extensions. In the future, we will increasingly sell premium solutions to this strong customer base. So we will not only continue to grow quantitatively, but also qualitatively."

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