Pomvom (TASE: PMVM) is moving toward fulfilling its vision of becoming the leading technological player in the market for digital experiential documentation in amusement parks by completing a private placement, raising NIS 19.7 million (about $5.3 million) through an allocation to institutional investors. The offering was led by the provident and mutual funds of Mor Investment House and the mutual and hedge funds of IBI, alongside existing shareholders and additional classified investors.
Other investors in this round included Pontifax Venture Capital, Sigma Mutual Funds, Creative Value Hedge Fund, Unique Hedge Fund, and Eran Mordechai. Among the participating existing shareholders were Yitzhak Cohen, Marcus George, Sharon Zaworbach (who also serves as a director in the Company), and others, along with the Company's Chairman of the Board, Mr. Yoav Nahir.
The transaction was priced at NIS 1.35 per share, reflecting a 10.6% discount on the company’s closing stock price of NIS 1.51 on January 1, 2025, when the board approved the offering. Following the allocation, the newly issued shares will represent 50.56% of the company's issued and outstanding share capital and voting rights, and 35.97% on a fully diluted basis. The placement also included two series of warrants, which, if fully exercised, could generate over NIS 24 million in additional capital for the company.
Established in 2015, Pomvom held its TASE IPO in 2021. The company has developed a digital platform leveraging cutting-edge technologies for capturing, generating, distributing, and selling personalized digital content. This content, hosted on the cloud, allows end-users to preserve and share their experiences via social media.
Pomvom currently provides its solutions to dozens of amusement parks and attractions across the US, Europe, and Japan, offering potential access to tens of millions of visitors annually. Its notable clients include Merlin Entertainments (operator of Legoland and Madame Tussauds), Warner Bros., and the Six Flags Group.
Pomvom’s growth potential is fueled by evolving market trends and increased demand for innovation in the global amusement park industry. With rising urbanization and international tourism, amusement parks are embracing advanced technologies to enhance visitor experiences, drive operational efficiency, and boost revenue. Key priorities include offering personalized and authentic content, seamless delivery of services, and maximizing marketing exposure through digital platforms. As competition intensifies, parks are focusing on creating unique, value-driven customer experiences. This shift has amplified the need for Pomvom’s experiential documentation solutions, positioning the company as a leader in providing advanced, data-driven tools that meet the demands of today’s dynamic market.
Pomvom’s Acting CEO and Head of US Operations Matan Mandelbaum said, "This capital raising, the first since our IPO on TASE nearly four years ago, represents a significant vote of confidence in Pomvom’s leadership and strategy. The strong participation of leading institutional and classified investors, alongside our dedicated existing shareholders, underscores this trust.
"In recent months, the Company’s management and board have focused on implementing an aggressive efficiency plan to optimize our expense structure. The results of these efforts began to materialize in the second half of 2024 and are expected to be fully realized throughout 2025.
"The funds raised in this offering mark a critical milestone in executing our 2025 strategic initiatives, fostering growth and expansion, and reinforcing Pomvom’s leadership in the global amusement park and attractions market, particularly in the U.S. The primary objective of this capital infusion is to fund essential capital investments tied to existing and new agreements with leading industry groups. We are committed to delivering value to our shareholders and are grateful to our investors for their continued confidence in Pomvom’s vision."
Published by Globes, Israel business news - en.globes.co.il - on January 6, 2025.
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