Pomvom (TSE: PMVM) is moving towards realizing its vision of becoming the leading technology player in the digital experiential documentation market at theme 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 Mor Investment House’s provident funds and mutual funds and IBI’s mutual funds and hedge funds, along with existing shareholders and additional classified investors.
Other investors in this round include Pontifax Venture Capital, Sigma Mutual Funds, Creative Value Hedge Fund, Unique Hedge Fund, and Eran Mordechai. Current participating shareholders include Yitzhak Cohen, Marcus George, Sharon Zurbach (who also serves as a director in the company), and others, in addition to the company’s Chairman of the Board of Directors, Mr. Yoav Naher.
The deal was priced at NIS 1.35 per share, reflecting a 10.6% discount to the company’s closing share price of NIS 1.51 on January 1, 2025, when the board approved the offer. Post allotment, 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 offering also included two series of warrants, which, if fully exercised, could generate more than NIS 24 million in additional capital for the company.
Founded in 2015, Pomvom held its IPO on TASE in 2021. The company has developed a digital platform that leverages cutting-edge technologies to capture, create, distribute and sell personalized digital content. Hosted on the cloud, this content allows end users to preserve and share their experiences via social media.
Pomvom currently provides its solutions to dozens of theme parks and attractions across the United States, Europe and Japan, providing access to tens of millions of visitors annually. Its notable clients include Merlin Entertainments (operator of Legoland and Madame Tussauds), Warner Bros. and Six Flags Group.
Pomvom’s growth potential is enhanced by evolving market trends and increasing demand for innovation in the global theme park industry. With increasing urbanization and international tourism, theme parks are adopting advanced technologies to enhance visitor experiences, increase operational efficiency, and increase revenues. Key priorities include delivering personalized and original content, seamless service delivery, and maximizing marketing exposure through digital platforms. As competition intensifies, aggregators are focusing on creating unique, value-based customer experiences. This shift has amplified the need for Pomvom’s experiential documentation solutions, positioning the company as a leading provider of advanced data-driven tools that meet the demands of today’s dynamic market.
“This capital raise, our first since our IPO on the TASE exchange nearly four years ago, represents a significant vote of confidence in Pomvom’s leadership and strategy,” said Matan Mandelbaum, Pomvom’s acting CEO and head of U.S. operations. Share Our strong presence from leading institutional and rated investors, along with our dedicated existing shareholders, underscores this confidence.
“In recent months, the Company’s management and Board of Directors have focused on implementing a robust efficiency plan to improve our expense structure. The results of these efforts began to be evident in the second half of 2024 and are expected to be fully realized throughout 2025.
“The funds raised in this offering represent a critical milestone in executing our 2025 strategic initiatives, driving growth and expansion, and strengthening Pomvom’s leadership in the global theme parks and attractions market, particularly in the U.S. The primary objective of this capital injection is to fund Core capital investments associated with existing and new agreements with leading industry groups, we are committed to delivering value for our shareholders and are grateful to our investors for their continued confidence in Boomfum’s vision.
Published by Globes, Israel Business News – en.globes.co.il – on January 6, 2025.
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