SPARK-TECHNOLOGIES
6.1.2022 14:53:04 CET | Business Wire | Press release
SPARK Technologies, a top European electric car sharing company, announced that it has signed an agreement with GEM Global Yield LLC SCS, a Luxembourg-based private, alternative investment group, for a EUR 30 million capital commitment.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220105005630/en/
Under the agreement, GEM commits to providing SPARK with a share subscription facility of up to EUR 30 million for a 36-month term following public listing of SPARK Technologies shares. SPARK will remain in control of the timing and, within certain limits, the maximum amount of each individual drawdown under this facility and has no minimum drawdown obligation.
In connection with the share subscription facility, on public listing, SPARK will issue warrants to GEM to purchase, for a period of three years after a public listing of SPARK’s common stock, up to 4% of the total equity interests of SPARK as of such public listing date at an exercise price equal to the Share Price at the time of SPARK’s public listing. The exercise of these warrants will act as another funding exercise for SPARK.
Subject to the listing occurring, the proceeds from this financing will be used towards entry of new EU markets, massive scale-up of SPARK’s customer base and fleet size, and further advancement of the proprietary software systems.
"The agreement with GEM helps secure funding to continue our doubling annual growth as we expand our electric car fleet and enter new cities. With certainty of capital upon listing on a major European public stock exchange, SPARK is now well-positioned as the company is about to scale up its development.” added Nerijus Dagilis, CEO and Chairman of SPARK Technologies.
About SPARK
SPARK Technologies is an electric car sharing company focused on improving everyday life by providing zero-emission, easily available and affordable commuting in major European cities. The platform provides 1,500 cars fleet and is accessible for sharing on SPARK mobile application in cities of European Union countries: Bucharest, Sofia, Plovdiv and Vilnius. As of today, the company has reached a customer base in excess of 250,000. SPARK is a privately owned company incorporated in Lithuania. For more information: www.espark.lt/en , www.spark.bg/en/ , www.espark.ro/en/ .
About GEM
Global Emerging Markets (“GEM”) is a $3.4 billion, alternative investment group with offices in Paris, New York and Nassau (Bahamas). GEM manages a diverse set of investment vehicles focused on emerging markets and has completed over 480 transactions in 70 countries. Each investment vehicle has a different degree of operational control, risk-adjusted return, and liquidity profile. The family of funds and investment vehicles provide GEM and its partners with exposure to: Small-Mid Cap Management Buyouts, Private Investments in Public Equities and select venture investments. For more information: http://www.gemny.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20220105005630/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
AGC Pharma Chemicals Validates Facilities for CDMO Services via Scientist.com’s VERIF.i® Program1.7.2026 13:55:00 CEST | Press release
Scientist.com, the life sciences industry’s leading AI-enabled R&D orchestration platform and digital marketplace, and AGC Pharma Chemicals, a leading global Contract Development and Manufacturing Organization (CDMO) for small molecule API and HPAPI, announced today that AGC has successfully completed an onsite assessment of its new Barcelona facility using the VERIF.i® supplier pre-assessment program. The newly expanded Barcelona site strengthens AGC’s position as a global leader in the development and commercialization of complex small molecule Active Pharmaceutical Ingredients (APIs) and highly potent APIs (HPAPIs). Designed for maximum flexibility, safety, and energy efficiency, the facility expands AGC’s end-to-end capabilities from gram-scale to ton-scale production under the highest quality and sustainability standards. “At AGC Pharma Chemicals, we place the highest priority on the integrity of our operational processes and the expertise of our frontline teams,” said Jun Kurihar
Introducing Arbex: a New Global Leader in Tissue and Hygiene1.7.2026 13:37:00 CEST | Press release
$3.4 billion joint venture between Suzano and Kimberly-Clark launches independent operations and reveals key corporate details Upon launch, Arbex becomes one of the world’s largest tissue and hygiene businesses, operating across more than 70 markets on five continents, with its headquarters in the Netherlands and an operational office in London. The company will produce and sell leading global and regional brands including Kleenex®, Scott®, Cottonelle®, Andrex®, and Viva®, with 22 manufacturing sites in 14 countries. Ehab Abou-Oaf, previously President of International Family Care & Professional at Kimberly-Clark, will directly transition in as Arbex’s CEO, with the role to be based in the United Kingdom alongside the majority of the global executive team. Arbex, a new global leader in tissue and hygiene, today commences operations as an independent business and unveils details of its brand, leadership team, and company structure. Announced in June 2025 as a $3.4 billion joint venture
Klarna has received a favorable ruling in PriceRunner litigation, awarding damages of $1.97 billion1.7.2026 13:19:00 CEST | Press release
Klarna Group plc (NYSE: KLAR) today announces that the court has ruled in PriceRunner’s favor, awarding $1.97 billion in damages in an antitrust case brought by PriceRunner against Google. The award compensates for lost revenue caused by Google's preferential treatment of its own comparison-shopping service over independent price-comparison services, conduct that also drives up costs for consumers. "When markets work well, everyone benefits. Consumers get higher quality at lower cost, companies stay focused on serving customers rather than defending position, and society is better off for it. This ruling supports a healthier, more competitive market for the way people compare products and services — and that is good for everyone who shops," said Dan Greaves, Head of Communications and Policy, Klarna. Klarna acquired PriceRunner in 2022 to add rich product discovery, price comparisons, and product reviews to the Klarna app, and drive high-intent traffic to retail partners. Klarna has si
Objectway Acquires Swiss Private Banking Technology Business From FNZ to Strengthen Its Pan-European Positioning1.7.2026 13:10:00 CEST | Press release
The acquisition consolidates its pan-European footprint, by expanding in Switzerland and Liechtenstein, as well as creating opportunities to expand in other international wealth centres. The investment enhances Objectway’s core-to-digital banking capabilities and strengthens its end-to-end offering for private banks and their cross-border wealth business.Key takeaways Objectway strengthens its positioning in Switzerland and in key international cross-border wealth management hubs. The acquisition enhances Objectway’s end-to-end private banking proposition for mid-sized to large institutions, leveraging core banking expertise and scalable digital solutions. Objectway extends international operational footprint across Switzerland, Singapore and Tunisia, accelerating its growth strategy and reinforcing its ability to support banks facing cross-border expansion, consolidation, regulatory pressure and increasing operational complexity. Objectway, a global wealthtech partner for banking, wea
NIQ Completes Acquisition of Flywheel’s China and Southeast Asia eCommerce Data & Insights Business, Expanding Digital Commerce Intelligence Capabilities1.7.2026 13:00:00 CEST | Press release
NielsenIQ (NYSE: NIQ), a leading consumer intelligence company, today announced that it has completed the acquisition of Flywheel’s China and Southeast Asia eCommerce Data & Insights business. The acquired business operates in China under the YiMian (“一面”) brand and is a leading provider of eCommerce, social commerce, and digital shelf solutions. The acquisition expands NIQ’s capabilities across China and Southeast Asia and strengthens its ability to measure and understand consumer behavior across retail, eCommerce, social commerce, and digital environments — advancing NIQ’s mission to deliver The Full View™, the most complete understanding of consumer behavior across online and offline channels. It also enhances NIQ’s data and analytics foundation by expanding access to rich digital commerce signals that support the development of more advanced analytics and AI-powered solutions. By bringing together NIQ’s global intelligence, analytics, and retail measurement capabilities with the ac
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom