Oddbox - Highly Anticipated: The Confirmation of the B Series

Exciting news from one of my larger positions: My position in Oddbox is through the Seedrs Bought on the secondary market and paid a significant premium for it. I have only owned a large part of my shares since February 2021. Today are for Oddbox Companies House (see "Statement of Capital", 08/16/2021) information on a new share issue has been published. It appears to be the Oddbox B-Series. At first I overlooked the share price because it seemed too high to me. £459.26. Previous share price was GBP 40.31. That would be an increase by a factor of 10. 8709 shares were issued. The share price multiplied by the number of shares results in a capital round of GBP 3,999,633. So a round number, almost to the pound GBP 4MM raised for 4.1% of shares. This in turn would result in a new company valuation of GBP 96.5MM - still a reasonable sales multiple according to quarterly reports.

Oddbox would then have sold well to the investor and received a fair price, not cheap. But it would also not be an exaggeratedly high company valuation based on annual sales. I still can't quite believe that the above new share price is so correct. A Tenbagger, more than a 10x in such a short time on one of my larger investments would be the absolute dream. I am happily excited and eagerly awaiting final confirmation of the above details, all of which are already publicly available on Companies House and should therefore be correct.

Philip

I have been investing in startups since 2014. In recent years, my portfolio has grown to over 150 investments of various sizes. On my blog I regularly report about crowd investing and my investments.

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