Icosium Investment Acquires 33.43% Stake In Holaluz.

ICOSIUM Investment has completed its investment in Holaluz. The fund thus becomes the largest shareholder of the Catalan energy company with a 33.43% stake and will be able to appoint a third member to the board of directors.

The company notified BME Growth this Friday that the fund has already disbursed the full amount of the agreed convertible loan (amounting to €15.5 million, at a price of €2.10 per share) and, consequently, the second phase of the investment has been completed. The loan is granted with the aim of stabilizing existing debt obligations with suppliers, strengthening the company’s cash position to finance daily working capital, and improving the company’s operational platform for natural gas and other “green” energy sources.

The first phase consisted of a capital increase of €6.48 million—through the issuance of 3.6 million new ordinary shares at an effective price of €1.80 per share. Icosium and Holaluz agreed on a €22 million capital increase to bring the fund into the company. The transaction values the company at more than €45 million.

As a result, following the capitalization of the loan, the full subscription of the new shares, and the completion of the capital increase, shareholders holding a direct or indirect stake of more than 5% of the company’s share capital are: Icosium Investment (33.43%), Axon (11.19%), Ferrán Nogué (9.77%), Carlota Pi (9.77%), and Oriol Vila (9.76%).

Currently, Icosium is represented on the company’s board by Lotfi Bellahcene and Enrique Palau, both serving as proprietary directors for the statutory term of six years. Bellahcene is CEO of Icosium, the strategic partner that has provided the capital needed to “convince” the banks that Holaluz has a future with a debt restructuring—extended until 2028—while Llopis has served as CFO in companies such as eDreams, Goldcar, and Healthcare Activos.