Case Studies
Turbo Energy, S.A. (NASDAQ: TURB)
Industry: Renewable Energy Technology
Transaction: IPO
Boustead Role: Lead Underwriter
Turbo Energy is a leading photovoltaic energy storage technology company based in Valencia, Spain, focused on innovative solar energy solutions for end consumers. Through their combination of artificial intelligence and advanced technology, they're creating a more sustainable, energy-efficient future.
Key Products:
All-in-One Sunbox: An integrated solution incorporating inverters, batteries, and protective components for photovoltaic installations, saving installation time and reducing technical errors.
Inverters: Critical components that convert DC power from solar panels to usable AC power while regulating battery charging
Lithium-Ion Batteries: Home energy storage solutions with capacities ranging from 2.24 kWh to 5.1 kWh in 24V and 48V configurations
IPO Details
Date: September 22, 2023
Price: $5.00 per share
Gross Proceeds: $5,000,000
Flora Growth Corp. (NASDAQ: FLGC)
Industry: Cannabis
Transaction: IPO
Boustead Role: Lead Underwriter
Flora Growth is a global cannabis company building a connected ecosystem of innovative brands and products. They focus on advancing technology to deliver personalized wellness experiences, from first-class formulations to next-generation cannabis hardware, while expanding their global footprint.
Key Brands & Operations:
JustCBD: Established CPG wellness brand with over 300 products, 300,000 direct customers, and 14,000+ distribution points across the US and internationally.
Flora Beauty: Wholly owned subsidiary founded in partnership with former Miss Universe Paulina Vega.
Cultivation: Operations in Colombia include the 361-hectare Cosechemos Farm and 1,900-hectare Palagua Farms.
Colombian Subsidiaries: Diversified product lines through majority-owned subsidiaries (Cosechemos, Cronomed, Breeze, and Kasa).
IPO Details
Date: May 10, 2021
Price: $5.00 per share
Gross Proceeds: $16,667,000
SuperFood Acquisition Co
Industry: Agriculture
Transaction: Private Equity/M&A
Boustead Role: Principal
SuperFood Acquisition Co is a specialized fund dedicated to acquiring, improving, and operating legacy farming assets in Mexico. The fund has acquired over 300 hectares from small, multi-generational farms and significantly improved their production capacity and efficiency.
Key Strategy:
Targeting small, operator-owned farms without capital for implementing modern practices
Improving production through technology implementation, soil condition monitoring, and HR optimization
Focusing 90% of production on a single, economy-resistant, high-margin crop
Leveraging combined scale to secure better prices and larger contracts
Achieving an average 70% improvement in EBITDA on acquired assets
Fund Details:
Current Capital: $20 million
Maximum Fund Size: $150 million
Target Wind-up Date: 2028
Projected IRR: 17.5%
Remote Learning Co
Industry: Education Technology
Transaction: Advisory
Boustead Role: Advisor to Parent Corporation
Remote Learning Co is a worldwide leader in online education spanning more than 20 countries. During the pandemic, they experienced significant growth, penetrating previously untapped markets, many of which lacked the necessary technology infrastructure for remote learning.
Solution Provided:
Identified a leading-edge, cost-effective technology company facing capital constraints
Facilitated acquisition of the technology provider
Arranged substantial trade finance facility to defer technology deployment costs
Coordinated allocation of units across public and private entities in Latin America
Transaction Details:
Total Capital Placed: $400 million
Investor Type: Institutional Equity and Credit
Number of Countries Deployed: 29
New User Additions: 3.4 million
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