03, Sep. 2012
News
FFA
Private Bank held a press conference for the launch of the W Motors
private placement on Tuesday, September 3rd at 12:00 at the bank
premises.
W
Motors, the first Arab developer of high performance luxury sports
cars, has mandated FFA Private Bank’s Investment Banking division in
order to advise on funding the company’s growth.
Headquartered
in Dubai, W Motors is producing the Lykan Hypersport, one of the most
luxurious, exclusive and technologically advanced vehicles on the
market. W Motors has partnered with major players and suppliers in the
automotive industry and design sector such as Magna Steyr (publicly
listed leading global diversified automotive supplier with $30B in
sales) and RUF Automobile (German manufacturer of high-performance
vehicles famous for tuning Porsche cars).
The
Lykan Hypersport’s twin turbocharger generates 750hp with a maximum
torque of 1,000Nm (0-100 km/h in 2.8 sec. and max. speed of 395 km/h).
As the most exclusive car in the world, limited to 7 cars per design,
the Lykan will be the first car in the world to integrate an interactive
floating hologram multimedia interface and the first car with
reverse-opening scissor doors. The car will also include ultra luxurious
elements such as diamond incrusted LED headlights, gold-stitched
leather seats, 24h concierge services and a limited edition Swiss Cyrus
watch.
The first production car will be ready in November and launched at the Dubai Motor Show.
To
finance its growth, W Motors is seeking to raise $6M from new
investors: the cash injection will be structured as a combination of a
capital increase and a secured loan with priority return. Each investor
will participate in both the shares and secured debt on a 50/50 basis.