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Ravenna, 8 August 2022 – Itway S.p.A., the parent company active in the IT, Cyber Security, AI and Big Data sector, listed on the Euronext Milan market, announces that the subsidiary 4Science S.p.A. (“4Science” or the “Company”)  – active in Italy and abroad in Data Science, Data Management and Data Repository for the market of scientific research, cultural heritage and Big Data – has successfully closed a funding operation for a total of Euro 5.8 million.

The transaction was carried out, in part, through the signing of a loan with Banca Progetto S.p.A. of Euro 3 million with repayment for 5 years, assisted by the guarantee for Euro 2.5 million provided by Medio Credito Centrale in favor of innovative SMEs and, in large part, through the subscription of a capital increase reserved for professional and institutional investors with the collection of Euro 2.8 million.

The resources will be allocated to finance the 2022-2026 business plan, to meet both the Company’s working capital needs and growth through internal and external lines.

Following the completion of the aforementioned equity transaction (for which,  as a result of the funding closed today, the issuance of the securities is underway), Itway will hold a stake in 4Science equal to 71.43% of the share capital.

“We are very pleased to have closed this double financing transaction in 4Science” comments G. Andrea Farina, Chairman and CEO of Itway.   “The  investments that Itway  has made in the last  5 years in this innovative SME are thus rewarded, with results of continuous growth, so as to make it a point of reference in the big data digital repository market” Farina adds: ”  This important injection of financial resources will allow us to better govern the circulating amount necessary for internal growth, which also includes the opening of offices abroad and to finance the acquisitions we plan to make in the coming months.”

4science has archived 2021 with the following data (which are also subject to voluntary audit review):

Value of production                         Euro 2,442,000 (growth of about +35% on 2020)

EBITDA                                               Euro 727,000 (growth of +76% on 2020)

EBITDA margin of approximately  30%

NFP positive (net cash)                     Euro    182.000

70% of turnover is produced abroad.

The plan for 2022 envisages a Production Value of approximately Euro 3 Million and an EBITDA of approximately Euro 1 million.

In these transactions, the company was assisted by a pool of highly complementary  advisors: Equity Factory and Classis Capital SIM regarding debt raising, and Fomarte as Sole Financial Advisor regarding equity raising.

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This press release is available at the Company’s headquarters and website at www.itway.com, at Borsa Italiana and at the authorized centralized storage mechanism called “Emarket Storage” managed by Spafid Connect S.p.A., and can be consulted   at    www.emarketstorage.com.

 Itway – www.itway.com

Founded in Ravenna on 4 July 1996 by G. Andrea Farina, Itway S.p.A.  he is the head of a group that operates in the IT sector for the design, production and distribution of technologies and solutions in the field of cybersecurity, artificial intelligence cloud computing (AI) and big data. For over 25 years the group has been a point of reference in the field of Digital Transformation solutions and services. Since 2001 Itway has been listed on the Mercato Telematico Azionario (MTA) of Borsa Italiana.

CONTACTS:

ITWAY Spa                                                             Mirella Villa Communication

Tel. 0544 288710                                                   Mirella Villa 335 7592701

investor.relation@itway.com                            mirella.villa@villacomunicazione.it