The HIFILORD 1A compartment of Spreds Finance would participate in the financing of HIFILORD BV/SRL planned between €25,000 and €125,000 (the "Capital Increase").
 
Of the total amount raised during the period of the offering, Spreds Finance will use an amount of € 500 per Participatory Notes for these purposes, subject to the fulfilment of the conditions for such placement.

 

 

The minimum subscription amount per investor is €500.
The minimum offering amount is €25,000.
 
The Notes will only be issued if, within 6 months from the Closing Date, the following listed cumulative and conditions precedent to the subscription of shares of HIFILORD by Spreds Finance (see below) are met:
 
 - The total amount of commitments to subscribe to this Capital Increase is at least €25,000 and not more than €125,000.
 
 - The Capital increase is based on a maximum pre-money valuation of €300,000.

- One or more investors invest an amount of at least €25,000, together with Spreds Finance.
 
 - The HIFILORD 1A compartment of Spreds Finance participates in the Capital Increase in an amount equal to the result of the subscription of Notes of the HIFILORD 1A compartment. This amount must be a minimum of €25,000.
 
Spreds Finance verifies that such conditions precedent are met no later than 6 months after the Closing Date ("Effective Date"), i.e. 07/11/2024. In the event that one or more of these conditions are not met by the Effective Date, the Notes will not be issued and the Subscription Amount paid by the Investors respectively will be refunded no later than 15 business days after the Effective Date.

 

 

The subscription period begins on 08/02/2024 and ends on the Closing Date, which is in principle 08/05/2024.
 
It may be decided to extend the subscription period by 3 months (until 08/08/2024 at the latest), if the total amount of subscriptions on 08/05/2024 is at least €20,000.
 
The offering may be closed early once the minimum offering amount, of €25,000, has been reached. In particular, it is possible that the offer is closed early once a total amount of €100,000 is raised through the present offer and other sources.

Early closure of the offer may also be decided if the total amount of orders contained in the subscription forms signed and transferred to Spreds Finance reaches the maximum amount of the offer. 

Investors who have subscribed to the Participatory Notes before any extension of the subscription period will be notified by e-mail and will have the right to withdraw their investment for 4 calendar days, starting from the day of sending this e-mail.
 
The Participatory Notes will be issued on the date of the capital increase, if the conditions for issuing these Participatory Notes are met. That is, at the latest on 08/11/2024 if the subscription period ends on 08/05/2024. This may be earlier (if the offering closes early) or later (if the subscription period is extended).

 

This investment is eligible for a tax reduction for Belgian investors under the tax incentive on tax shelter for start-ups. 
 
The reduction of up to 45% of the total nominal amount of the Participatory Notes invested will be applicable since the Underlying Assets are shares in a scale-up. 
 
The total tax benefit is therefore a maximum of €225 per Participatory Note. The available tax shelter budget is €100,000.

When the company is set up, the entrepreneur, Tim Van Vynckt, will invest €15,000 through a contribution in kind. This amount will be contributed before the capital increase in which Spreds Finance's HIFILORD 1A compartment would participate and is therefore not taken into account as a new contribution in the Capital Increase. 

HIFILORD is also raising funds from other sources. There are already several conditional investments meaning the investments will be dependent on certain conditions, notably having other sources of financing secured. As such, if €75,000 is raised through the present offer, it is most likely (although not a certainty) that the following financing is also confirmed: