Auction Technology Group PLC (ATG) is set to undergo a proposed placing of ordinary shares, representing approximately 5.0% of the company's issued share capital. The shares will be sold by TA Associates through its sub-funds, with J.P. Morgan Securities plc acting as the sole global coordinator and bookrunner for the placing. The price per placing share will be determined through an accelerated bookbuilding process to institutional investors, with the final number of placing shares to be agreed upon at the close of the bookbuilding process.

TA Associates currently owns approximately 17.6% of the company's issued share capital, corresponding to around 21.4 million shares. The sellers will be locked up in respect of their residual holdings until 60 days post-settlement of the placing, subject to customary exceptions. It's important to note that ATG will not receive any proceeds from the placing.

The announcement emphasizes that the distribution of this announcement may be restricted by law in certain jurisdictions and that no prospectus or offering document has been or will be prepared in connection with the placing. The announcement also outlines the restrictions and regulations regarding the offering of the placing shares in various jurisdictions, including the United States, Canada, Australia, South Africa, and Japan.

The announcement concludes with a list of contacts for further inquiries regarding the placing.