Talenthouse AG: Progress with the Series B fundraising

Baar (pta013/17.03.2023/09:30) - Talenthouse AG

* announces progress with its Series B fundraising, having received commitments in the amount of CHF 25m, and
* updates on its ongoing strategic review.

(Baar/Switzerland) The Board of Talenthouse AG ("Talenthouse" or the "Company") has received cash commitments in the amount of CHF 16m and commitments of shareholder loan conversions in the amount of CHF 9m for new Series B shares, supporting the capital restructuring measures (ordinary capital increase to create new Series B shares with a nominal value of CHF 0.10 each, combined with a reduction of the nominal value of the existing Series A shares to CHF 0.05 each), as approved at the Company's Extraordinary General Meeting ("EGM") on January 13th, 2023. The implementation of the capital restructuring measures requires another EGM, which the Board convocates soon.

The Company expects receipt of the new money from the fundraising round to begin in the coming days.

The receipt of the funding commitments confirms the support of investors for Talenthouse's broad strategy while facilitating the Company's previously stated desire to review the platform business of the group.

To that end, the board is considering a broader restructuring of the business lines of the Talenthouse group with the aim of

* investing in support of the growth of those parts of the Company that are demonstrably EBITDA positive and cash generative, such as the Coolabi business,
* investing in building the "Creator Services" propositions the Company has been developing, and
* reorganising its creator platform business line, potentially in co-operation with a dedicated partner.

Decisions concerning such restructuring steps will be made shortly and may lead to further announcements in the short-term.

These events require the withdrawal of the current outlook for the years 2022 and 2023. Talenthouse will provide guidance for the financial year ending December 31st, 2023, when it publishes its preliminary results for the financial year ending December 31st, 2022. The above will also delay Talenthouse's year-end audit, requiring the Company to request an extension to the SIX Swiss Exchange publication deadline of the audited financial statements.

As previously announced, Talenthouse will confirm new executive appointments following the conclusion of the strategic review.

Roman Scharf, Talenthouse's chairman: "Despite the challenging market conditions, Talenthouse has received commitments from both existing and new equity investors. This is a very important precondition to finalise the strategic review and to appoint a new Management."

(Ende)